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

Published: March 19 2023, 16:36 GMT+0

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

Friday at a glance: 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 after ending Friday's session at 133.59, USD/JPY lost 178 pips and is trading around 131.8. USD/SGD is down to 1.3397, losing 59 pips, after ending the previous session around 1.3456.

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

Furthermore, as things stand, upcoming Germany Producer Price Index data is projected to fall short of market expectations with newly published data of -1.6%, following on from the preceding figure of -1%. New data is set to be published 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.