Friday's lacklustre market sentiment sees EUR/NZD drop 0.75%

Published: March 19 2023, 08:16 GMT+0

Friday's lacklustre market sentiment sees EUR/NZD drop 0.75%

A quick look at Friday: EUR/NZD ended Friday at 1.7009 following from closing Thursday at 1.7137. Overall, this represents a loss of 127 pips or 0.75%.

EUR/NZD's value drop coincided with the fact that USD/JPY drops 1.33% Friday and closed at 133.59. After ending Friday's session at 1.3456, USD/SGD lost 59 pips and is trading around 1.3397.

Positive performances can be seen by looking at other currencies as NZD/USD soars 1.11% Friday and closed at 0.6194.

Furthermore, Germany Producer Price Index expected to decline to -1.6% while its preceding data was -1%, data will be available tomorrow at 07:00 UTC. Euro Zone Trade Balance (Jan) will be released tomorrow at 10:00 UTC. New Zealand Balance of Trade is expected tomorrow at 21:45 UTC.

The currency pair has been trending positively for about a month. The past 3 months have been positive for EUR/NZD as it added 4.9% compared to its 3-month low of 1.57.