Mixed sentiment sees EUR/NZD currency pair ending the session broadly flat; establishes tight 1.6832 to 1.6854 range

Published: January 26 2023, 00:30 GMT+0

Mixed sentiment sees EUR/NZD currency pair ending the session broadly flat; establishes tight 1.6832 to 1.6854 range

After closing the previous trading day at 1.6842, EUR/NZD is up to 1.6848, which makes for a move of 0.03%/5 pips today.

Nevertheless, 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, 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. Germany Business Expectations beat analyst expectations of 85 and the previous reading of 83.2 with new data of 86.4.

Elsewhere, other currency pairs are also gaining ground as GBP/CAD added 0.21% to its value, now trading at 1.6626.

Meanwhile, USD/JPY is down 35 pips from the beginning of the session and now trades around 129.16. After ending yesterday's session at 141.36, EUR/JPY lost 28 pips and is trading around 141.07.

Furthermore, the market is looking at Euro Zone ECB President Lagarde speech is scheduled tomorrow at 10:30 UTC. Spain GDP is expected tomorrow at 08:00 UTC. New Zealand ANZ Business Confidence (Jan) is expected tomorrow at 00:00 UTC.

As things stand, EUR/NZD is 3.66% away from a significant high of 1.7482, first set 3 months ago.

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