Mixed sentiment sees EUR/NZD currency pair ending the session broadly flat; establishes tight 1.68 to 1.6859 range

Published: January 26 2023, 07:16 GMT+0

Mixed sentiment sees EUR/NZD currency pair ending the session broadly flat; establishes tight 1.68 to 1.6859 range

EUR/NZD remains range-bound within a 1.68 to 1.6859 range but falls to 1.6836 in choppy trade.

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.

Meanwhile, France Jobseekers Total released yesterday at 11:00 UTC is better than expected at 2.82 million but down from preceding data of 2.81 million according to new data. Germany Business Expectations beat analyst expectations of 85 and the previous reading of 83.2 with new data of 86.4.

Though EUR/NZD has been dropping, other pairs have been performing better: USD/CAD gained 0.2% and is currently trading at 1.3405. GBP/CAD goes up 0.11% to trade around 1.6609.

In the meantime, GBP/USD moves 0.08% to trade around 1.2393.

Furthermore, Euro Zone ECB President Lagarde speech is scheduled for tomorrow at 10:30 UTC. Spain GDP figure is projected at 0.1. It previously stood at 0.1; data will be released tomorrow at 08:00 UTC. New Zealand ANZ Business Confidence (Jan) will be released tomorrow at 00:00 UTC.

Having set a peak of 1.7482 around 3 months ago, EUR/NZD is now trading 3.66% below this level.

Back