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February 22, 2023
Struggling to find upward momentum, EUR/USD has shed 5 pips to currently trade at 1.0647 as it ranges between 1.0628 and 1.07 so far today.
- The Euro is currently trading at 1.0647 following the release of Consumer Price Index data from the Germany.
- Euro-Dollar hasn't been as low as 1.0628 in 6 weeks.
Germany Business Climate Index released earlier showed a marked improvement to 91.1 from the preceding data of 90.1, but fell short of the 91.4 figure forecast by a consensus of market analysts. Germany Consumer Price Index released today at 07:00 UTC with a figure of 8.7%, while the previous figure was 8.1%.
Euro Zone Consumer Price Index figure is projected at 8.6%. It previously stood at 8.5%; data will be released tomorrow at 10:00 UTC. Euro Zone Consumer Price Index figure is projected at -0.2%. It previously stood at -0.4%; data will be released tomorrow at 10:00 UTC.
After ending yesterday's session at 143.67, EUR/JPY lost 46 pips and is trading around 143.2. GBP/NZD is down to 1.9414, losing 58 pips, after closing at 1.9472 in the preceding trading session. EUR/NZD is down to 1.7067, losing 61 pips, after closing at 1.7129 in the preceding trading session.
Having established significant support at 0.9596 approximately 4 months ago, the Euro's share price has bounced 11% higher.
