Weak sentiment sees Euro-Aussie dollar posting 0.52% loss

Published: January 25 2023, 20:05 GMT+0

Weak sentiment sees Euro-Aussie dollar posting 0.52% loss

EUR/AUD weakened earlier in the day, before moving away from its 1.5302 low and recovering back to 1.5365.

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

While price action maintains a negative bias, Australia Consumer Price Index came out at 1.9, while a consensus of analysts was expecting 1.6. Data for France Jobseekers Total released today at 11:00 UTC is better than expected with 2.82 million, but worse than previous figure of 2.81 million.

In the meantime, negative performances are seen in other pairs, USD/SGD falls 0.49% to trade around 1.3129.

Though Euro-Aussie dollar has been dropping, other pairs have been performing better: GBP/NZD is up 0.83%. GBP/CAD soars 0.64% to trade around 1.6585.

Trading mostly sideways for a month. This year has been a gloomy one for Euro-Aussie dollar after trading as high as 1.6175 and going on to lose 1.36% of its value.