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May 31, 2023EUR/USD drops 38 pips early on and steadies around the 1.07 level.
Germany Unemployment Change data will be released today at 07:55 UTC, with an expected improvement to 14,000. the Euro reaction to indicator information will follow.
Highly important Consumer Confidence data from United States beat analyst expectations of 99 with a reading of 102.3.
Amid the market gloom, Italy 10-Year BTP Auction released yesterday at 09:25 UTC with a figure of 3.79, while the previous figure was 3.77. Spain HICP (YoY) (May) came out at 2.9, while a consensus of analysts was expecting 4.1.
In the meantime, negative performances are also seen in other pairs as NZD/USD closed at 0.6 (down 0.78%). EUR/JPY decreases 0.42% to trade around 149.4.
Positive performances can be seen by looking at other currencies as having closed the previous session at 2.0524, GBP/NZD is up 0.62% today to currently trade at around 2.0652.
Some optimism can drawn from the fact that Germany Unemployment Change is projected to outperform its last figure with 14,000. It previously stood at 24,000; data will be released today at 07:55 UTC.
Furthermore, Euro Zone ECB President Lagarde speech is expected today at 12:30 UTC. Euro Zone ECB Publishes Account of Monetary Policy Meeting scheduled to come out tomorrow at 11:30 UTC.
Having set a peak of 1.1073 around 28 days ago, Euro-Dollar is now trading 3.02% below this level.
