EUR/NZD Live News

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Sep. 29, 2022

EUR/NZD reaches a new 7 months high at 1.7151

Live - Updated 15 minutes ago.

While yesterday ended at 1.6987, today, EUR/NZD rallied above 1.7151 for the first time in 7 months and gained 155 pips — now trading at 1.7143.

EUR/NZD is currently trading at 1.7143 following the release of RBNZ Gov Orr speech data from the New Zealand.

Meanwhile, Germany Consumer Price Index released today at 12:00 UTC with a figure of 10%, while the previous figure was 7.9%. Germany Consumer Price Index came out at 1.9%, while a consensus of analysts was expecting 1.3%. Fresh 10-Year BTP Auction data from Italy came out at 4.7.

EUR/NZD chart analysis: EUR/NZD broke through the 1.7 resistance and climbed 141 pips above it. Technical analysis trend indicators suggest that investors are seeking long positions as EUR/NZD price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Momentum evaluation shows that the Relative Strength Index indicates EUR/NZD is currently 'overbought' which suggests new gains will be harder to obtain. According to asset volatility analysis, Bollinger band analysis indicates that current price action is approaching the upper band at 1.7175, thereby suggesting that EUR/NZD is becoming overvalued.

Overall, while EUR/NZD has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Other currencies are also rising as GBP/NZD gained 1.71% and is now trading at 1.9311. GBP/CAD shoots up 1.43% to trade around 1.5033. Having closed the previous session at 156.87, GBP/JPY is up 1.08% today to currently trade at around 158.56.

Also worthy of note, Germany Unemployment Change is projected to outperform its last figure with 20,000. It previously stood at 28,000; data will be released tomorrow at 07:55 UTC.

Elsewhere, Euro Zone Consumer Price Index figure is projected at 9.7%. It previously stood at 9.1%; data will be released tomorrow at 09:00 UTC. Tomorrow at 06:00 UTC data for Germany Retail Sales will be released, with an expected decline to -1% from the preceding figure of 1.9%. France Consumer Price Index is expected tomorrow at 06:45 UTC.

The currency pair has been trending positively for about a month. Having set a significant high of 1.7308 5 months ago, EUR/NZD is trading 8.21% lower.

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Week to date

EUR/NZD is trading around 1.7143 after ending the previous session at zero (up 0%) .

Trading week at a glance - EUR/NZD is up to 1.7143, after closing yesterday at zero. Overall, a 0% move or 17,142 pips this week. (Start trading EUR/NZD at FXTM today).

Uptick comes while some more positive signs for EUR/NZD are out as following a previous reading of 88.6, Business Climate Index in Germany released Monday fell short of the 87 figure expected by analysts with an actual reading of 84.3.

Meanwhile, Germany Consumer Price Index released today at 12:00 UTC with a figure of 10%, while the previous figure was 7.9%. Germany Consumer Price Index came out at 1.9%, while a consensus of analysts was expecting 1.3%. Italy 10-Year BTP Auction came out at 4.7. Spain Consumer Price Index released today at 07:00 UTC with a figure of 9%, while the previous figure was 10.5%.

Also worthy of note, Germany Unemployment Change is projected to outperform its last figure with 20,000. It previously stood at 28,000; data will be released tomorrow at 07:55 UTC.

Furthermore, the market is looking at Euro Zone Consumer Price Index is expected tomorrow at 09:00 UTC. New Zealand Interest Rate is expected Wednesday.