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.