Tough start for EUR/NZD this morning following 0.16% decline; now at 1.6815

Published: January 26 2023, 04:26 GMT+0

Tough start for EUR/NZD this morning following 0.16% decline; now at 1.6815

Struggling to find upward momentum, EUR/NZD has shed 26 pips to currently trade at 1.6815 as it ranges between 1.68 and 1.6859 so far today.

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 came out at 86.4, better than analyst estimates of 85 and improving upon the previous reading of 83.2.

In the meantime, negative performances are also seen in other pairs as EUR/JPY is down to 140.88, losing 47 pips, after closing at 141.36 in the preceding trading session. USD/JPY slips 0.36% to trade around 129.04. GBP/JPY is trading around 160 (down 59 pips).

Furthermore, Euro Zone ECB President Lagarde speech is scheduled 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) 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.

Back