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April 13, 2023While yesterday ended at 1.0994, today, EUR/USD rallied above 1.1059 for the first time in 1 year and gained 57 pips — now trading at 1.1051.
United States's Initial Jobless Claims new data released of 239,000 below its previous figure.
The Euro upside coincides with further encouraging market factors as Producer Price Index in United States fell short of market expectations (0.1%) with a reading of -0.5%, continuing the decline from the previous figure of 0%. United States Initial Jobless Claims published today at 12:30 UTC came out at 239,000, falling short of the 232,000 projections and continuing its decline from the previous 228,000 figure.
At the same time, Germany Consumer Price Index came out at 0.8%, while a consensus of analysts was expecting 0.8%.
Other currencies are also rising as NZD/USD is up 0.99%.
While the Euro is up today, these currencies are lagging behind: USD/CHF closed at 0.8874 (down 0.92%). GBP/NZD falls 0.6% to trade around 1.9944.
Furthermore, the market is looking at Spain HICP (YoY) (Mar) is scheduled for tomorrow at 07:00 UTC. Spain Consumer Price Index is expected tomorrow at 07:00 UTC. France Consumer Price Index figure is projected at 0.8%. It previously stood at 1.1%; data will be released tomorrow at 06:45 UTC. France HICP (MoM) (Mar) scheduled to come out tomorrow at 06:45 UTC.
The currency pair has been trending positively for about a month. As things stand, Euro-Dollar is 14.56% away from a significant low of 0.9596 first set 6 months ago.
