After four days of declines, EUR/NZD is up 40 pips today

Published: November 25 2022, 12:46 GMT+0

After four days of declines, EUR/NZD is up 40 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 1.666.

Nevertheless, Germany GDP beat analyst expectations of 0.3 and the previous reading of 0.1 with new data 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, Germany GDP released today at 07:00 UTC is better than expected at 1.2% but down from preceding data of 1.7% according to new data.

A look at other currencies also shows bullish price action as having closed the previous session at 138.59, USD/JPY is up 0.52% today to currently trade at around 139.31. Having closed the previous session at 0.943, USD/CHF is up 0.34% today to currently trade at around 0.9462. EUR/JPY improves 0.31% to trade around 144.7.

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 scheduled to come out today at 19:30 UTC.

EUR/NZD is now trading 4.94% away from its significant high of 1.7482 first tested a month ago.

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