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Dec. 2, 2022

Euro-Aussie dollar trades at 1.5453 after Euro Zone ECB President Lagarde speech was released today at 02:40 UTC.

Live - Updated 17 minutes ago.

After closing at 1.5445 yesterday, Euro-Aussie dollar began today at 1.5445 with significant bullish sentiment driving Euro-Aussie dollar's price action higher. So far today, price action has drawn out a distinct 1.5437 to 1.5475 range.

  • Euro-Aussie dollar is currently trading at 1.5449 following the release of ECB President Lagarde speech data from the Euro Zone.

Fresh Retail Sales data released in Australia matched analyst forecasts with a reading of -0.2% — a backwards step from its previous reading of 0.6%. Australia Home Loans (MoM) released today at 00:30 UTC with a figure of -2.9, while the previous figure was -4.8.

After reaching the known resistance zone beginning at 1.5472, EUR/AUD price action retreated approximately 23 pips. Despite posting gains so far today, Euro-Aussie dollar slid below its 21 day Simple Moving Average at 1.5447 in earlier trade — an early indicator that a negative trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at 1.555, thereby suggesting that Euro-Aussie dollar is becoming overvalued.

Euro-Aussie dollar is likely to reverse course and start pointing downward in the short term.

Euro Zone ECB President Lagarde speech is scheduled for tomorrow at 02:30 UTC. Germany Trade Balance (Oct) scheduled to come out today at 07:00 UTC.

GBP/JPY is trading around 165.5 (down 34 pips). After ending yesterday's session at 142.39, EUR/JPY lost 22 pips and is trading around 142.16. After ending yesterday's session at 1.3539, USD/SGD lost 17 pips and is trading around 1.3521.

Having set a significant low of 1.4289 3 months ago, Euro-Aussie dollar is trading 8.09% higher.

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Week to date

After ending yesterday at 1.5449, Euro-Aussie dollar improves slightly to 1.5449 (down 15,449 pips) .

As the trading week gets on its way, EUR/AUD is up to 1.5449, after closing yesterday at zero. Overall, a 0% move or 15,449 pips this week. (Start trading Euro-Aussie dollar at FXTM today).

This move comes while some more positive signs for Euro-Aussie dollar are out as Unemployment Change in Germany fell short of market expectations (13,000) with a reading of 17,000, continuing the decline from the previous figure of 9,000.

On the flip side, fresh Retail Sales data released in Australia matched analyst forecasts with a reading of -0.2% -- a backwards step from its previous reading of 0.6%. Following a previous reading of 0.6%, Retail Sales in Australia released Monday fell short of the 0.5% figure expected by analysts with an actual reading of -0.2%.

At the same time, Euro Zone Consumer Price Index came out at 10%, while a consensus of analysts was expecting 10.4%. Australia Home Loans (MoM) released today at 00:30 UTC with a figure of -2.9, while the previous figure was -4.8.

Outlook for rest of the week: Positive indicators for Euro-Aussie dollar are expected going forward as Australia GDP is projected to outperform its last figure with one, having previously been at 0.9. The figure will be published Wednesday.

Also worthy of note, Australia Interest Rate is expected Tuesday. Euro Zone Retail Sales expected to decline to -1.7% while its preceding data was 0.4%, data will be available Monday.