Is it the end of Euro-Aussie dollar's rally? After three days of gains, it is down by 0.13% today

Published: May 26 2023, 23:35 GMT+0

Is it the end of Euro-Aussie dollar's rally? After three days of gains, it is down by 0.13% today

Trading lower, EUR/AUD is currently down 21 pips as it ranges between 1.642 and 1.6516 so far today.

Highly important Retail Sales data from Australia beat analyst expectations of 0.3% with a reading of 0%.

On the flip side, highly important GDP data from Germany beat analyst expectations of -0.1 with a reading of -0.3.

Amid the market gloom, Australia CFTC AUD speculative net positions released today at 20:30 UTC with a figure of -49,100, while the previous figure was -53,600.

Though Euro-Aussie dollar has been dropping, other pairs have been performing better: GBP/NZD soars 0.52% to trade around 2.0417. GBP/JPY is up 0.66% to 173.67. USD/JPY gained 0.41% and is currently trading at 140.62.

The past 3 months have been positive for Euro-Aussie dollar as it added 5.28% compared to its 3-month low of 1.4289.

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