Euro-Dollar retreats 32 pips from 4 months high

Published: November 25 2022, 10:06 GMT+0

Euro-Dollar retreats 32 pips from 4 months high

After hitting its highest point in 4 months at 1.0433, EUR/USD dropped by 32 pips and is now trading at 1.04.

New Germany GDP improved upon the previous 0.1 figure while also exceeding analyst expectations with a reading of 0.4.

On the flip side, positive data for Euro-Dollar 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.

Amid the market gloom, 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.

Though the Euro has been dropping, other pairs have been performing better: USD/JPY surges 0.62% to trade around 139.45. Having closed the previous session at 144.25, EUR/JPY is up 0.49% today to currently trade at around 144.96. GBP/JPY goes up 0.33% to trade around 168.45.

Furthermore, Euro Zone ECB's De Guindos speech set for today at 17:00 UTC. Euro Zone CFTC EUR speculative net positions scheduled to come out today at 19:30 UTC.

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

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