After four days of declines, EUR/NZD is up 87 pips today

Published: January 25 2023, 21:20 GMT+0

After four days of declines, EUR/NZD is up 87 pips today

Tentatively higher from an earlier low of 1.674, EUR/NZD is up to 1.6842 today, adding 87 pips, or 0.52%, to yesterday's closing price of 1.6755.

On the flip side, new Business Climate Index data from Germany matched market expectations with a reading of 90.2 — a positive step in contrast to previous data of 88.6 from last month.

At the same time, New Zealand Consumer Price Index released yesterday at 21:45 UTC with a figure of 1.4, while the previous figure was 2.2. Data for France Jobseekers Total released today at 11:00 UTC is better than expected with 2.82 million, but worse than previous figure of 2.81 million.

Elsewhere, other currency pairs are also gaining ground as GBP/NZD leaps up 0.83% to trade around 1.9129. Having closed the previous session at 1.6479, GBP/CAD is up 0.73% today to currently trade at around 1.66.

While EUR/NZD is up today, these currencies are lagging behind: after ending yesterday's session at 1.3194, USD/SGD lost 64 pips and is trading around 1.3129.

Having set a peak of 1.7482 around 3 months ago, EUR/NZD is now trading 4.16% below this level.