EUR/NZD Live News

This page provides live coverage and news analysis on the EUR/NZD currency pair

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Jan. 24, 2022

EUR/NZD is above 1.69 for the first time since August 2021.

Live - Updated 45 minutes ago.

EUR/NZD ended Friday at 1.6891, climbs to 1.69 today and is currently trading at 1.6903.

Data for Euro Zone Manufacturing PMI released today at 9:00 AM comes out at 59, beating projections of 57.5 and showing improvement over the preceding figure of 58. Euro Zone Services PMI fall short of the 52.2 projections, with 51.2 and continued its downward trajectory from previous figure of 53.1. Euro Zone Composite PMI fall short of the 52.6 projections, with 52.4 and continued its downward trajectory from previous figure of 53.3.

As the day reaches an end a chart visual study suggests EUR/NZD's nearest support level is at 1.6795. In terms of trend indicators, we can see that the CCI indicator is above 100. When the CCI (Commodity Channel Index) is at this level it means the price is above the average price as measured by the indicator, indicating a possible start of a new uptrend. EUR/NZD is hovering around the 1.6903 Fibonacci resistance level. Asset volatility analysis shows that EUR/NZD's upper Bollinger band is at 1.6883, this is a slight indication of a slowdown.

Overall, the technical analysis picture suggests EUR/NZD is neutral for the immediate future, with no clear-cut direction.

A look at other markets also suggest some upside GBP/NZD rallied above 2.0222 for the first time in 1 year (gaining 46 pips). It later dropped, erasing today's gains, and is currently trading lower at 2.0138. USD/CAD is up 0.46%.

Other assets are showing mixed performances as the 0.7106 support line failed to hold and Aussie/Dollar dropped 38 pips below it.

The market is looking forward to the release of new data: Germany Business Climate Index figure is projected at 94.7. It previously stood at 94.7; data will be released tomorrow at 9:00 AM. New Zealand Balance of Trade is projected to outperform its last figure with -700,000,%, having previously been at -864,000,%. The figure will be published tomorrow at 9:45 PM. Germany's new Current Assessment (Jan) data will be available tomorrow at 9:00 AM. Data is expected to decline to 96.1 from its previous value of 96.9. Germany Business Expectations is projected to outperform its last figure with 93. It previously stood at 92.6; data will be released tomorrow at 9:00 AM.

EUR/NZD has gone up 1.57% this year. The asset has been trading sideways for the past a 2 month.

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Week to date

EUR/NZD retreats 85 pips from 5 months and a half high .

A good end to the trading week, after ending the previous week at 1.6886, EUR/NZD went up to 1.6989 only to drop back to midpoint range and now trades at 1.6903. (Start trading EUR/NZD at FXTM today).

EUR/NZD's green move takes place amid mixed market indicators — Euro Zone Consumer Price Index matches expectations with new data release of 5%. This is also a step forward from the previous data of 4.9%.

At the same time, Euro Zone Manufacturing PMI comes out at 59, above the estimate of 57.5. This is also a step forward from the previous data of 58. Euro Zone Services PMI published today at 9:00 AM came out at 51.2, falling short of the 52.2 projections and continuing its decline from the previous 53.1 figure. Euro Zone Composite PMI fall short of the 52.6 projections, with 52.4 and continued its downward trajectory from previous figure of 53.3. Euro Zone CFTC EUR speculative net positions released Friday with a figure of 24,600, while the previous figure was 6,000.

Outlook for rest of the week: The market is looking forward to the release of new data: Germany Business Climate Index figure is projected at 94.7. It previously stood at 94.7; data will be released tomorrow at 9:00 AM. France Consumer Spending expected to decline to 0.2% while its preceding data was 0.8%, data will be available Friday. New Zealand Balance of Trade is projected to outperform its last figure with -700,000,%, having previously been at -864,000,%. The figure will be published tomorrow at 9:45 PM.