Weak sentiment sees EUR/NZD posting 0.75% loss

Friday at a glance: EUR/NZD falls 0.75% to close at 1.7009 Friday.

EUR/NZD's value drop coincided with the fact that after ending Friday's session at 133.59, USD/JPY lost 178 pips and is trading around 131.8. USD/SGD dips 0.44% Friday and closed at 1.3456.

Though EUR/NZD has been dropping, other pairs have been performing better: NZD/USD is trading around 0.6263 after ending Friday's session at 0.6194 (up 1.11% today).

Furthermore, as things stand, upcoming Germany Producer Price Index data is projected to fall short of market expectations with newly published data of -1.6%, following on from the preceding figure of -1%. New data is set to be published tomorrow at 07:00 UTC. Euro Zone Trade Balance (Jan) is scheduled for tomorrow at 10:00 UTC. New Zealand Balance of Trade is expected tomorrow at 21:45 UTC.

The currency pair has been trending positively for about a month. EUR/NZD now trading 4.9% above its 3-month low of 1.57.