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April 24, 2023Tentatively higher from an earlier low of 1.097, EUR/USD is up to 1.1046 today, adding 54 pips, or 0.5%, to Friday's closing price of 1.0991.
On the flip side, Germany Business Climate Index released earlier showed a marked improvement to 93.6 from the preceding data of 93.2, but fell short of the 94 figure forecast by a consensus of market analysts.
Meanwhile, Germany Current Assessment (Apr) released today at 08:00 UTC with a figure of 95, while the previous figure was 95.4. Germany Business Expectations came out at 92.2, better than analyst estimates of 91.5 and improving upon the previous reading of 91.
Other currencies are also rising as EUR/JPY goes up 0.51% to trade around 148.14. EUR/CAD improves 0.52% to trade around 1.495.
While the Euro is up today, these currencies are lagging behind: USD/CHF closed at 0.8875 (down 0.5%).
The market is looking forward to the release of new data: Euro Zone ECB's Enria speech set for tomorrow at 08:00 UTC. United States Building Permits is scheduled for tomorrow at 13:30 UTC. United States New Home Sales (Mar) scheduled to come out tomorrow at 14:00 UTC.
The currency pair has been trending positively for about a month. After setting a supportive marker at 0.9596 around 6 months ago, Euro-Dollar is now trading 14.54% higher.
