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June 02, 2023Slightly weaker but mostly flat: EUR/USD is currently trading at 1.0762 as it maintains an active range between 1.0762 and 1.0782.
- Average Hourly Earnings data from United States will be released today at 12:30 UTC with analysts expecting a decline to 0.4%. Potentially significant price fluctuations in the Euro are expected to follow.
Earlier data releases related to Euro-Dollar – Euro Zone Consumer Price Index released yesterday at 09:00 UTC with a figure of 6.1%, while the previous figure was 7%. Data for Spain Unemployment Change released today at 07:00 UTC is better than expected with -49,300, but worse than previous figure of -73,900.
Here is the technical analysis of the Euro before macro data is released:
Coming up for the Euro — Euro Zone CFTC EUR speculative net positions will be released today at 20:30 UTC. Today at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 180,000 from the preceding figure of 253,000.
As the markets get ready for more data to be released — EUR/AUD drops 0.73% to trade around 1.6249. Having closed the previous session at 0.6577, AUD/USD is up 0.7% today to currently trade at around 0.6623. After ending yesterday's session at 2.0629, GBP/NZD lost 69 pips and is trading around 2.056.
The currency pair has been trending lower for about 30 days. Having set a peak of 1.1073 around 30 days ago, Euro-Dollar is now trading 2.78% below this level.
