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

Published: January 26 2023, 01:06 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 1.6852, which makes for a move of 0.06%/9 pips today.

Nevertheless, highly important Business Climate Index data from Germany beat analyst expectations of 90.2 with a reading of 90.2.

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. Data for Germany Business Expectations published yesterday at 09:00 UTC came out at 86.4, beating projections of 85 and showing improvement over the preceding figure of 83.2.

At the same time, EUR/JPY is down 23 pips from the beginning of the session and now trades around 141.13. GBP/JPY is down to 160.37, losing 22 pips, after closing at 160.6 in the preceding trading session. After ending yesterday's session at 129.51, USD/JPY lost 18 pips and is trading around 129.32.

The market is looking forward to the release of new data: Euro Zone ECB President Lagarde speech set 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) scheduled to come out tomorrow at 00:00 UTC.

EUR/NZD is now trading 3.66% away from its significant high of 1.7482 first tested 3 months ago.

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