Weak sentiment sees Euro-Dollar posting 0.65% loss

EUR/USD crashes after losing 69 pips, breaking down to 1.0602.

New United States Initial Jobless Claims improved upon the previous 192,000 figure while also exceeding analyst expectations with a reading of 190,000.

Data for United States Initial Jobless Claims published today at 13:30 UTC came out at 190,000, beating projections of 195,000 and showing improvement over the preceding figure of 192,000.

Nonetheless, encouraging indicators for Euro-Dollar published earlier when Germany Unemployment Change released yesterday at 08:55 UTC is better than expected at 2,000 but down from preceding data of -15,000 according to new data.

Meanwhile, Germany Consumer Price Index released yesterday at 13:00 UTC with a figure of 8.7%, while the previous figure was 8.7%.

In the meantime, negative performances are seen in other pairs, GBP/USD is down to 1.1949, losing 77 pips, after closing at 1.2027 in the preceding trading session. EUR/CAD is down 79 pips from the beginning of the session and now trades around 1.4424.

Though Euro-Dollar has been dropping, other pairs have been performing better: USD/SGD surges 0.46% to trade around 1.3478.

Furthermore, Germany Trade Balance (Jan) will be released tomorrow at 07:00 UTC. Spain Services PMI figure is projected at 54.3. It previously stood at 52.7; data will be released tomorrow at 08:15 UTC. Euro Zone Composite PMI figure is projected at 52.3. It previously stood at 52.3; data will be released tomorrow at 09:00 UTC.

Having set a significant low of 0.9596 5 months ago, the Euro is trading 11.2% higher.