The Euro continued its five days losing streak, dropping by 54 pips, closing at 1.0546

A quick look at yesterday: the Euro dipped as low as 1.054 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session (1.0593) with EUR/USD closing the day at 1.0546.

Following a previous reading of 0.5, GDP in Germany released yesterday at 06:00 UTC fell short of the -0.2 figure expected by analysts with an actual reading of -0.4.

While price action maintains a negative bias, Euro Zone CFTC EUR speculative net positions released yesterday at 20:30 UTC with a figure of 150,500, while the previous figure was 134,300. United States New Home Sales (Jan) came out at 670,000, while a consensus of analysts was expecting 620,000.

Euro-Dollar's value drop coincided with the fact that AUD/USD lost 1.23% yesterday and closed at 0.681.

Though the Euro has been dropping, other pairs have been performing better: USD/JPY went up by 1.37% yesterday, and closed at 136.49. USD/SGD is trading around 1.3505 after ending yesterday's session at 1.3421 (up 0.63% today).

As things stand, Euro-Dollar is 10.45% away from a significant low of 0.9596 first set 4 months ago.