Weak sentiment sees Euro-Yen posting 0.32% loss

Published: January 25 2023, 23:30 GMT+0

Weak sentiment sees Euro-Yen posting 0.32% loss

Trading lower, EUR/JPY is currently down 44 pips as it ranges between 141.22 and 141.38 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.

Amid the market gloom, 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. Germany Business Expectations beat analyst expectations of 85 and the previous reading of 83.2 with new data of 86.4.

In the meantime, negative performances are also seen in other pairs as USD/SGD is down 71 pips from the beginning of the session and now trades around 1.3122.

Though Euro-Yen has been dropping, other pairs have been performing better: having closed the previous session at 1.8972, GBP/NZD is up 0.91% today to currently trade at around 1.9145. GBP/CAD leaps up 0.83% to trade around 1.6615.

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.

This year has been a bright one for Euro-Yen after trading as low as 125.05 and going on to appreciate by 1.35% year to date.