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May 09, 2023After closing at 1.0967 yesterday, EUR/USD opened today at 1.0963, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, EUR/USD retains a distinct 1.0945 to 1.1008 daily range.
Germany Consumer Price Index is next tomorrow at 06:00 UTC.
While price action maintains a negative bias, Germany Industrial Production published yesterday at 06:00 UTC came out at -3.4%, falling short of the -1.3% projections and continuing its decline from the previous 2.1% figure. United States API Weekly Crude Oil Stock came out at 3.62 million, while a consensus of analysts was expecting -1.6 million. United States 3-Year Note Auction released today at 17:00 UTC with a figure of 3.695, while the previous figure was 3.81.
Mixed performances are seen by currencies as USD/JPY trades close to 135.28, with no major change. GBP/JPY trades with no major change, around 170.75. EUR/CAD moves 0.05% to trade around 1.4665.
Furthermore, Germany Consumer Price Index is expected tomorrow at 06:00 UTC. Germany Consumer Price Index figure is projected at 7.2%. It previously stood at 7.4%; data will be released tomorrow at 06:00 UTC. Germany Buba Balz speech is scheduled tomorrow at 11:35 UTC.
The currency pair has been trending positively for about 2 months. Having set a peak of 1.1073 around 6 days ago, Euro-Dollar is now trading 0.96% below this level.
