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April 29, 2023Yesterday at a glance: the Euro dipped as low as 1.0969 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session (1.103) with EUR/USD closing the day at 1.1018.
Germany Unemployment Change published yesterday at 07:55 UTC came out at 24,000, falling short of the 10,000 projections and continuing its decline from the previous 16,000 figure.
While price action maintains a negative bias, Euro Zone CFTC EUR speculative net positions released yesterday at 20:30 UTC with a figure of 169,400, while the previous figure was 164,400. United States Core PCE Price Index (MoM) (Mar) came out at 0.3, while a consensus of analysts was expecting 0.3.
Though Euro-Dollar has been dropping, other pairs have been performing better: GBP/JPY went up by 2.39% yesterday, and closed at 171.14. USD/JPY went up by 1.8% yesterday, and closed at 136.31. EUR/JPY is trading around 150.08 after ending yesterday's session at 147.59 (up 1.69% today).
The currency pair has been trending positively for about a month. Having established significant support at 0.9596 approximately 7 months ago, Euro-Dollar's share price has bounced 14.94% higher.
