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June 23, 2023EUR/USD crashes after losing 64 pips, breaking down to 1.0895.
The Euro is currently trading at 1.0895 following the release of Services PMI data from the United States.
In contrast, positive data for the Euro reported earlier when United States Crude Oil Inventories published yesterday at 15:00 UTC came out at -3.83 million, falling short of the 329,000 projections and continuing its decline from the previous 7.92 million figure.
Amid the market gloom, United States Services PMI came out at 54.1, while a consensus of analysts was expecting 54. Spain GDP beat analyst expectations of 0.5 and the previous reading of 0.5 with new data of 0.6.
In the meantime, negative performances are seen in other pairs, after ending yesterday's session at 0.676, AUD/USD lost 75 pips and is trading around 0.6685.
Though Euro-Dollar has been dropping, other pairs have been performing better: USD/SGD gained 0.59% and is now trading at 1.3524. USD/JPY moves up 0.49% to trade around 143.78.
Furthermore, Euro Zone CFTC EUR speculative net positions scheduled to come out today at 20:30 UTC. Euro Zone ECB's Schnabel speech is expected tomorrow at 13:15 UTC.
The Euro is now trading 14.2% away from its significant low of 0.9596 first tested 8 months ago.
