Euro-Dollar hits 1.093, highest rate in 9 months

Published: January 26 2023, 04:45 GMT+0

Euro-Dollar hits 1.093, highest rate in 9 months

While yesterday ended at 1.0919, today, EUR/USD rallied above 1.093 for the first time in 9 months and gained 1 pips — now trading at 1.0919.

United States Initial Jobless Claims data will be released today at 13:30 UTC, with an expected decline to 205,000.

This move comes while some more positive signs for Euro-Dollar are out as highly important Business Climate Index data from Germany beat analyst expectations of 90.2 with a reading of 90.2. Following a previous reading of 8.41 million, Crude Oil Inventories in United States released yesterday at 15:30 UTC fell short of the 971,000 figure expected by analysts with an actual reading of 533,000.

At the same time, data for France Jobseekers Total released yesterday at 11:00 UTC is better than expected with 2.82 million, but worse than previous figure of 2.81 million.

Meanwhile, after ending yesterday's session at 141.36, EUR/JPY lost 33 pips and is trading around 141.02. USD/JPY is down to 129.19, losing 31 pips, after closing at 129.51 in the preceding trading session. GBP/JPY withdraws 0.25% to trade around 160.21.

The market is looking forward to the release of new data: Euro Zone ECB President Lagarde speech will be released tomorrow at 10:30 UTC. Spain GDP figure is projected at 0.1. It previously stood at 0.1; data will be released tomorrow at 08:00 UTC. Germany Buba Balz speech is scheduled tomorrow at 17:00 UTC. Euro Zone CFTC EUR speculative net positions scheduled to come out tomorrow at 20:30 UTC.

Having set a significant low of 0.9596 3 months ago, the Euro is trading 13.79% higher.