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June 08, 2023EUR/USD rallies 49 pips (0.46%) deep into the session, trading at 1.075.
United States's Initial Jobless Claims new data released of 261,000 below its previous figure.
Uptick comes while some more positive signs for Euro-Dollar are out as Initial Jobless Claims in United States fell short of market expectations (235,000) with a reading of 261,000, continuing the decline from the previous figure of 233,000.
Meanwhile, new Euro Zone GDP data fell short of the zero projected by analysts with a reading of -0.1 while failing to improve upon the previous reading from last month (-0.1). Euro Zone GDP published today at 09:00 UTC came out at 1%, falling short of the 1.2% projections and continuing its decline from the previous 1.8% figure.
Elsewhere, other currency pairs are also gaining ground as GBP/USD moves up 0.43% to trade around 1.2494.
At the same time, USD/CHF dips 0.81% to trade around 0.9023. USD/JPY is down to 139.42, losing 64 pips, after closing at 140.06 in the preceding trading session.
Elsewhere, Euro Zone ECB's De Guindos speech set for tomorrow at 08:00 UTC. Euro Zone ECB's Enria speech is expected tomorrow at 08:30 UTC. Euro Zone CFTC EUR speculative net positions is scheduled for tomorrow at 20:30 UTC.
The currency pair has been trending lower for about a month. Euro-Dollar is now trading 3.36% away from its significant high of 1.1073 first tested a month ago.
