Euro-Dollar records flat yesterday on the back of 3rd straight day of declines

Published: May 27 2023, 09:41 GMT+0

Euro-Dollar records flat yesterday on the back of 3rd straight day of declines

A quick look at yesterday: EUR/USD closed at 1.0731 yesterday after ranging between 1.0705 and 1.076.

Euro-Dollar upside coincides with further encouraging market factors as data from United States concerning Core Durable Goods Orders was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 0.3% to -0.2% this month.

At the same time, Euro Zone CFTC EUR speculative net positions released yesterday 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 notably, GBP/NZD rose 0.52% yesterday and closed at 2.0311. GBP/JPY surges 0.64% yesterday and closed at 172.53. USD/JPY went up by 0.41% yesterday, and closed at 140.62.

Having set a peak of 1.1073 around 24 days ago, Euro-Dollar is now trading 3.09% below this level.

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