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

A quick look at Friday: EUR/NZD falls 0.75% to close at 1.7009 Friday.

EUR/NZD's value drop coincided with the fact that USD/JPY is down to 131.8, losing 178 pips, after ending the previous session around 133.59. USD/SGD lost 0.44% Friday and closed at 1.3456.

Though EUR/NZD has been dropping, other pairs have been performing better: NZD/USD added 1.11% and closed around 0.6194 Friday.

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. EUR/NZD now trading 4.9% above its 3-month low of 1.57.