Weak sentiment sees Euro-Yen posting 0.16% loss

Published: January 25 2023, 21:35 GMT+0

Weak sentiment sees Euro-Yen posting 0.16% loss

Trading lower, EUR/JPY is currently down 22 pips as it ranges between 140.75 and 142.29 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.

While price action maintains a negative bias, France Jobseekers Total released today at 11:00 UTC is better than expected at 2.82 million but down from preceding data of 2.81 million according to new data. 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 seen in other pairs, USD/SGD closed at 1.3129 (down 0.5%).

Though Euro-Yen has been dropping, other pairs have been performing better: GBP/NZD is up 0.85%. Having closed the previous session at 1.6479, GBP/CAD is up 0.75% today to currently trade at around 1.6602.

Furthermore, Japan Tokyo Core CPI (YoY) (Jan) is expected tomorrow at 23:30 UTC. Japan CPI Tokyo Ex Food and Energy (MoM) (Jan) is scheduled for tomorrow at 23:30 UTC.

Euro-Yen has managed to gain 1.59% so far this year despite trading at lows around 125.05 previously.