The Euro retreats 32 pips from 4 months high

Published: November 25 2022, 11:55 GMT+0

The Euro retreats 32 pips from 4 months high

After hitting its highest point in 4 months at 1.0433, EUR/USD dropped by 32 pips and is now trading at 1.04.

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 beat analyst expectations of 0.3 and the previous reading of 0.1 with new data of 0.4. 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, data for Germany GDP released today at 07:00 UTC is better than expected with 1.2%, but worse than previous figure of 1.7%.

Though the Euro has been dropping, other pairs have been performing better: USD/JPY leaps up 0.62% to trade around 139.44. EUR/JPY is up 0.47%. GBP/JPY gained 0.42% and is now trading at 168.59.

Furthermore, Euro Zone ECB's De Guindos speech is scheduled 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, Euro-Dollar is trading 8.5% higher.