EUR/NZD Live News

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Feb. 21, 2024

Losing streak continues, EUR/NZD lost 24 pips to 1.7507 adding to its five consecutive days of drops

Live - Updated 13 minutes ago.

EUR/NZD is down to 1.7507, after ending yesterday at 1.7531. Overall, a 0.14% loss or 24 pips today.

While price action maintains a negative bias, Germany 10-Year Bund Auction released today at 10:30 UTC with a figure of 2.38, while the previous figure was 2.23. New Zealand PPI Input (QoQ) (Q4) came out at 0.9, while a consensus of analysts was expecting 0.4.

Trend analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that EUR/NZD's lower Bollinger Band® is at 1.7475, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Overall, the technical outlook suggests EUR/NZD is likely to remain muted for the immediate future, with no clear-cut direction.

In the meantime, negative performances are also seen in other pairs as USD/CHF stumbles 0.24% to trade around 0.8794.

Positive performances can be seen by looking at other currencies as EUR/JPY climbs 0.27% to trade around 162.52. GBP/JPY increases 0.28% to trade around 189.76.

Furthermore, Euro Zone Consumer Price Index is expected tomorrow at 10:00 UTC. Euro Zone Consumer Price Index figure is projected at -0.4%. It previously stood at 0.2%; data will be released tomorrow at 10:00 UTC. New Zealand Core Retail Sales (QoQ) scheduled to come out tomorrow at 21:45 UTC.

Trading mostly sideways for 30 days. EUR/NZD has shed 64.21% over the past three months.

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Week to date

EUR/NZD ends yesterday stable around 1.7507 .

A good end to the trading week, EUR/NZD is up to 1.7507, after closing yesterday at zero. Overall, a 0% move or 17,507 pips this week. (Trade EUR/NZD with FXTM now).

At the same time, Germany 10-Year Bund Auction released today at 10:30 UTC with a figure of 2.38, while the previous figure was 2.23. New Zealand PPI Input (QoQ) (Q4) came out at 0.9, while a consensus of analysts was expecting 0.4. Euro Zone CFTC EUR speculative net positions released Friday with a figure of 52,800, while the previous figure was 62,200. France Consumer Price Index released Friday with a figure of -0.3%, while the previous figure was 0.1%. Fresh HICP (MoM) (Jan) data from France came out at -0.2.

Outlook for rest of the week: Positive indicators for EUR/NZD are expected going forward as Germany GDP projected to come out at -0.3 — worse than previous data of -0.1; data will be released Friday.

Furthermore, the market is looking at Euro Zone Consumer Price Index is expected tomorrow at 10:00 UTC. New Zealand Interest Rate is expected Wednesday.