After three days of declines, Euro-Aussie dollar is up 15 pips today

Published: November 25 2022, 15:05 GMT+0

After three days of declines, Euro-Aussie dollar is up 15 pips today

After closing at 1.5385 yesterday, EUR/AUD began today at 1.5382 with significant bullish sentiment driving EUR/AUD's price action higher. So far today, price action has drawn out a distinct 1.5374 to 1.5451 range.

Nevertheless, 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 came out at 86.3, better than analyst estimates of 85 and improving upon the previous reading of 84.5.

Meanwhile, 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.

Other currencies are also rising as having closed the previous session at 0.943, USD/CHF is up 0.6% today to currently trade at around 0.9487. USD/JPY is up 0.52%. USD/CAD is up 0.35%.

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

As things stand, Euro-Aussie dollar is 7.67% away from a significant low of 1.4289 first set 3 months ago.