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May 25, 2023EUR/USD dropped to 1.0712, hitting its lowest point in 2 months. Later, it recovered 12 pips and is now trading at 1.0725.
United States Pending Home Sales didn't cause a noticeable effect even though it falls short expectations with 0%.
Business Climate Index in Germany fell short of market expectations (93) with a reading of 91.7, continuing the decline from the previous figure of 93.4. Highly important GDP data from United States beat analyst expectations of 1.1 with a reading of 1.3.
On the flip side, highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of 0%.
Positive performances can be seen by looking at other currencies as USD/SGD soars 0.42% to trade around 1.3544. GBP/NZD is up 0.46%. Having closed the previous session at 139.36, USD/JPY is up 0.48% today to currently trade at around 140.03.
Furthermore, Germany Buba Mauderer speech is scheduled tomorrow at 07:05 UTC. Euro Zone ECB's Enria speech set for tomorrow at 07:15 UTC. Euro Zone ECB's Lane speech set for tomorrow at 07:40 UTC. Euro Zone CFTC EUR speculative net positions scheduled to come out tomorrow at 20:30 UTC.
As things stand, Euro-Dollar is 2.9% away from a significant high of 1.1073, first set 22 days ago.
