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May 18, 2023EUR/USD drops from 1.0845 to 1.0824, losing 21 pips (0.19%) today.
Euro Zone ECB President Lagarde speech is next today at 09:00 UTC.
Highly important Crude Oil Inventories data from United States beat analyst expectations of -920,000 with a reading of 5 million.
Meanwhile, Euro Zone Consumer Price Index released yesterday at 09:00 UTC with a figure of 7%, while the previous figure was 6.9%. United States Building Permits (Apr) came out at 1.42 million, while a consensus of analysts was expecting 1.44 million.
In the meantime, negative performances are seen in other pairs, GBP/NZD closed at 1.991 (down 0.41%). GBP/USD is down 35 pips from the beginning of the session and now trades around 1.2454.
Though Euro-Dollar has been dropping, other pairs have been performing better: having closed the previous session at 1.3417, USD/SGD is up 0.19% today to currently trade at around 1.3443.
Furthermore, Euro Zone ECB President Lagarde speech set for tomorrow at 19:00 UTC. Germany Producer Price Index is projected to outperform its last figure with -0.5%. It previously stood at -1.4%; data will be released tomorrow at 06:00 UTC. Euro Zone ECB Economic Bulletin is expected tomorrow at 08:00 UTC.
Having set a peak of 1.1073 around 15 days ago, the Euro is now trading 2.06% below this level.
