Weak sentiment sees Euro-Yen posting 0.26% loss

Published: January 25 2023, 23:06 GMT+0

Weak sentiment sees Euro-Yen posting 0.26% loss

In a range-bound session favoring short positions, EUR/JPY remains constrained in a 141.26 to 141.38 range and is currently trading close to 141.32.

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, 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. Data for Germany Business Expectations published today 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, USD/SGD falls 0.49% to trade around 1.3129.

Though Euro-Yen has been dropping, other pairs have been performing better: GBP/NZD gained 0.86% and is currently trading at 1.9135. GBP/CAD leaps up 0.75% to trade around 1.6604.

Furthermore, Japan Tokyo Core CPI (YoY) (Jan) scheduled to come out 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 1.35% so far this year despite trading at lows around 125.05 previously.