After four days of declines, EUR/NZD is up 34 pips today

Published: November 25 2022, 12:56 GMT+0

After four days of declines, EUR/NZD is up 34 pips today

After closing the previous trading day at 1.6619, EUR/NZD went up to 1.6696 only to drop back; still positive overall today, now trading at 1.6653.

On the flip side, data for Germany GDP published today at 07:00 UTC came out at 0.4, beating projections of 0.3 and showing improvement over the preceding figure of 0.1. Germany Business Climate Index beat analyst expectations of 85 and the previous reading of 84.5 with new data of 86.3.

Meanwhile, 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%.

A look at other currencies also shows bullish price action as USD/JPY improves 0.45% to trade around 139.21. USD/CHF is up 0.33%. GBP/JPY added 0.31% to its value, now trading at 168.42.

Furthermore, the market is looking at Euro Zone ECB's De Guindos speech will be released today at 17:00 UTC. Euro Zone CFTC EUR speculative net positions is expected today at 19:30 UTC.

As things stand, EUR/NZD is 4.94% away from a significant high of 1.7482, first set a month ago.