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May 16, 2023Trading lower, EUR/USD is currently down 10 pips as it ranges between 1.0859 and 1.0908 so far today.
Euro-Dollar is currently trading at 1.0871 following the release of ECB President Lagarde speech data from the Euro Zone.
New Core Retail Sales data from United States matched market expectations with a reading of 0.4% — a positive step in contrast to previous data of -0.5% from last month.
In contrast, positive data for Euro-Dollar reported earlier when United States Retail Sales released earlier showed a marked improvement to 0.4% from the preceding data of -0.7%, but fell short of the 0.8% figure forecast by a consensus of market analysts.
Amid the market gloom, Euro Zone ZEW Economic Sentiment Index came out at -9.4, while a consensus of analysts was expecting -1.
In the meantime, negative performances are seen in other pairs, AUD/USD is down to 0.6659, losing 40 pips, after closing at 0.67 in the preceding trading session.
Though Euro-Dollar has been dropping, other pairs have been performing better: USD/SGD gained 0.3% and is now trading at 1.34. EUR/AUD added 0.55% to its value, now trading at 1.632.
Furthermore, Euro Zone Consumer Price Index is expected tomorrow at 09:00 UTC. Euro Zone Consumer Price Index is expected tomorrow at 09:00 UTC. Euro Zone Core Consumer Prices is expected tomorrow at 09:00 UTC.
Euro-Dollar is now trading 1.73% away from its significant high of 1.1073 first tested 13 days ago.
