Bearish sentiment sends Euro-Aussie dollar 0.11% lower

Published: March 19 2023, 12:02 GMT+0

Bearish sentiment sends Euro-Aussie dollar 0.11% lower

Friday at a glance: EUR/AUD ended Friday at 1.5923 following from closing Thursday at 1.594. Overall, this represents a loss of 16 pips or 0.11%.

Euro-Aussie dollar's value drop coincided with the fact that after ending Friday's session at 133.59, USD/JPY lost 178 pips and is trading around 131.8. After ending Friday's session at 1.3456, USD/SGD lost 59 pips and is trading around 1.3397. EUR/NZD is down to 1.7009, losing 127 pips, after ending the previous session around 1.7137.

Furthermore, projections for Germany Producer Price Index are set for a continuation of decline with -1.6% while previous data was -1%; data will be released tomorrow at 07:00 UTC. Euro Zone Trade Balance (Jan) is expected tomorrow at 10:00 UTC. Australia RBA Assist Gov Kent speech scheduled to come out today at 22:10 UTC.

The currency pair has been trending positively for about 28 days. Having set a peak of 1.619 around 7 days ago, Euro-Aussie dollar is now trading 1.54% below this level.