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May 02, 2023EUR/USD weakened earlier in the day, before moving away from its 1.0953 low and recovering back to 1.0954.
Euro-Dollar is currently trading at 1.0954 following the release of Consumer Price Index data from the Euro Zone.
Meanwhile, Euro Zone Consumer Price Index released today at 09:00 UTC with a figure of 7%, while the previous figure was 6.9%. Italy Consumer Price Index came out at 0.5%, while a consensus of analysts was expecting 0.3%. Euro Zone Consumer Price Index came out at 0.7%, while a consensus of analysts was expecting 0.9%.
In the meantime, negative performances are seen in other pairs, EUR/AUD closed at 1.6369 (down 1.12%). After ending yesterday's session at 2.0251, GBP/NZD lost 129 pips and is trading around 2.0122. EUR/NZD closed at 1.7682 (down 0.59%).
Furthermore, Euro Zone Unemployment Rate figure is projected at 6.6. It previously stood at 6.6; data will be released tomorrow at 09:00 UTC. Germany Buba Wuermeling speech scheduled to come out tomorrow at 09:00 UTC. Euro Zone ECB McCaul speech is expected tomorrow at 12:00 UTC.
The currency pair has been trending positively for about a month. Euro-Dollar is now trading 0.64% away from its significant high of 1.1049 first tested 8 days ago.
