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April 27, 2023
EUR/USD weakened earlier in the day, before moving away from its 1.0972 low and recovering back to 1.1027.
United States's Pending Home Sales new data released of -5.2% below its previous figure.
Highly important Initial Jobless Claims data from United States beat analyst expectations of 248,000 with a reading of 230,000.
On the flip side, United States Pending Home Sales published today at 14:00 UTC came out at -5.2%, falling short of the 0.5% projections and continuing its decline from the previous 0.8% figure. United States GDP published today at 12:30 UTC came out at 1.1, falling short of the two projections and continuing its decline from the previous 2.6 figure.
In the meantime, negative performances are seen in other pairs, EUR/NZD is trading around 1.7932 (down 108 pips). EUR/CAD is trading around 1.4981 (down 66 pips).
Though the Euro has been dropping, other pairs have been performing better: USD/CHF moves up 0.38% to trade around 0.8941.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as Germany GDP expected to decline to 0.3 while its preceding data was 0.9, data will be available tomorrow at 06:00 UTC.
In addition, Germany Unemployment Change is projected to outperform its last figure with 10,000. It previously stood at 16,000; data will be released tomorrow at 07:55 UTC.
Furthermore, Germany GDP is projected to outperform its last figure with 0.8%, having previously been at 0.3%. The figure will be published tomorrow at 08:00 UTC.
The currency pair has been trending positively for about a month. Having established significant support at 0.9596 approximately 6 months ago, the Euro's share price has bounced 15.14% higher.
