Weak sentiment sees EUR/NZD posting 0.17% loss

Published: January 26 2023, 04:55 GMT+0

Weak sentiment sees EUR/NZD posting 0.17% loss

Trading lower, EUR/NZD is currently down 27 pips as it ranges between 1.68 and 1.6859 so far today.

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

Amid the market gloom, 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.

In the meantime, negative performances are seen in other pairs, EUR/JPY closed at 141.09 (down 0.19%). GBP/JPY is down 31 pips from the beginning of the session and now trades around 160.29. USD/JPY closed at 129.27 (down 0.18%).

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

Having set a peak of 1.7482 around 3 months ago, EUR/NZD is now trading 3.66% below this level.