The Euro retracted 65 pips from 4 months high and trades at 1.0367

Published: November 25 2022, 14:15 GMT+0

The Euro retracted 65 pips from 4 months high and trades at 1.0367

After hitting its highest point in 4 months at 1.0433, EUR/USD dropped by 65 pips and is now trading at 1.0367.

New Germany GDP improved upon the previous 0.1 figure while also exceeding analyst expectations with a reading of 0.4.

On the flip side, Germany GDP came out at 0.4, better than analyst estimates of 0.3 and improving upon the previous reading of 0.1. Data for Germany Business Climate Index published yesterday at 09:00 UTC came out at 86.3, beating projections of 85 and showing improvement over the preceding figure of 84.5.

Meanwhile, Germany GDP released today at 07:00 UTC is better than expected at 1.2% but down from preceding data of 1.7% according to new data.

Though the Euro has been dropping, other pairs have been performing better: USD/CHF surges 0.68% to trade around 0.9494. USD/JPY gained 0.61% and is now trading at 139.44. USD/CAD added 0.41% to its value, now trading at 1.3389.

Furthermore, Euro Zone ECB's De Guindos speech set for today at 17:00 UTC. Euro Zone CFTC EUR speculative net positions is expected today at 19:30 UTC.

Having set a significant low of 0.9596 a month ago, the Euro is trading 8.5% higher.