Losing streak continues: Euro-Aussie dollar down 28 pips to 1.5328 adding to its four days of losses

Published: January 26 2023, 05:10 GMT+0

Losing streak continues: Euro-Aussie dollar down 28 pips to 1.5328 adding to its four days of losses

In a range-bound session favoring short positions, EUR/AUD remains constrained in a 1.5318 to 1.5381 range and is currently trading close to 1.5328.

New Business Climate Index data from Germany matched market expectations with a reading of 90.2 — a positive step in contrast to previous data of 88.6 from last month.

While price action maintains a negative bias, Australia Consumer Price Index came out at 1.9, while a consensus of analysts was expecting 1.6. Data for France Jobseekers Total released yesterday at 11:00 UTC is better than expected with 2.82 million, but worse than previous figure of 2.81 million.

In the meantime, negative performances are seen in other pairs, EUR/JPY closed at 141.06 (down 0.21%). GBP/JPY is trading around 160.23 (down 36 pips). GBP/NZD is down to 1.9095, losing 35 pips, after closing at 1.9131 in the preceding trading session.

Furthermore, Euro Zone ECB President Lagarde speech set for tomorrow at 10:30 UTC. Projections for Australia Producer Price Index are set for a continuation of decline with 1.7 while previous data was 1.9; data will be released tomorrow at 00:30 UTC. Spain GDP figure is projected at 0.1. It previously stood at 0.1; data will be released tomorrow at 08:00 UTC.

The currency pair has been trending lower for about a month. So far this year, Euro-Aussie dollar has declined 1.92% while touching highs around 1.6175 earlier this year.

Back