After 4 months hiatus, Euro-Dollar is back at the 1.0433 level

Published: November 25 2022, 08:41 GMT+0

After 4 months hiatus, Euro-Dollar is back at the 1.0433 level

While yesterday ended at 1.0412, today, EUR/USD rallied above 1.0433 for the first time in 4 months and gained 15 pips — now trading at 1.0428.

New Germany GDP improved upon the previous 0.1 figure while also exceeding analyst expectations with a reading of 0.4.

Uptick comes while some more positive signs for Euro-Dollar are out as highly important GDP data from Germany beat analyst expectations of 0.3 with a reading of 0.4. Data for Germany Business Climate Index published yesterday at 09:00 UTC came out at 86.3, beating projections of 85 and showing improvement over the preceding figure of 84.5.

At the same time, data for Germany GDP released today at 07:00 UTC is better than expected with 1.2%, but worse than previous figure of 1.7%.

Elsewhere, other currency pairs are also gaining ground as EUR/NZD is up 0.34% to 1.6676. EUR/AUD added 0.28% to its value, now trading at 1.5429.

Meanwhile, USD/SGD decreases 0.19% to trade around 1.3729.

Also worthy of note, Euro Zone ECB's De Guindos speech will be released today at 17:00 UTC. Euro Zone ECB's Supervisory Board Member Jochnick speech is scheduled for today at 08:50 UTC. Euro Zone CFTC EUR speculative net positions scheduled to come out today at 19:30 UTC.

Having set a significant low of 0.9596 a month ago, the Euro is trading 8.5% higher.