Euro-Dollar erases today's gains, loses 23 pips, and is trading lower at 1.0409 after 4 months high

Published: November 25 2022, 17:16 GMT+0

Euro-Dollar erases today's gains, loses 23 pips, and is trading lower at 1.0409 after 4 months high

After hitting its highest point in 4 months at 1.0433, EUR/USD dropped by 23 pips and is now trading at 1.0409.

On the flip side, positive data for the Euro released earlier when highly important GDP data from Germany beat analyst expectations of 0.3 with a reading of 0.4. Highly important Business Climate Index data from Germany beat analyst expectations of 85 with a reading of 86.3.

While price action maintains a negative bias, 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.

Positive performances can be seen by looking at other currencies as USD/JPY increases 0.37% to trade around 139.1. EUR/JPY gained 0.35% and is now trading at 144.75. GBP/JPY improves 0.32% to trade around 168.44.

Furthermore, Euro Zone CFTC EUR speculative net positions is scheduled for today at 19:30 UTC.

Having set a significant low of 0.9596 a month ago, Euro-Dollar is trading 8.5% higher.

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