After three days of going down, Euro-Dollar is flat today, hovering around 1.0731

Published: May 26 2023, 22:21 GMT+0

After three days of going down, Euro-Dollar is flat today, hovering around 1.0731

After closing at 1.0731 yesterday, EUR/USD began today at 1.0732 with significant bullish sentiment driving EUR/USD's price action higher. So far today, price action has drawn out a distinct 1.0705 to 1.076 range.

The Euro upside coincides with further encouraging market factors as highly important Core Durable Goods Orders data from United States beat analyst expectations of 0% with a reading of -0.2%.

At the same time, Euro Zone CFTC EUR speculative net positions released today at 20:30 UTC with a figure of 173,700, while the previous figure was 187,100. United States Core PCE Price Index (MoM) (Apr) came out at 0.4, while a consensus of analysts was expecting 0.3.

A look at other currencies also shows bullish price action as GBP/JPY gained 0.66% and is now trading at 173.67. GBP/NZD is up 0.47%. USD/JPY added 0.41% to its value, now trading at 140.62.

Euro-Dollar is now trading 3.09% away from its significant high of 1.1073 first tested 23 days ago.

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