EUR/USD Live News

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Feb. 22, 2024

Mixed sentiment sees Euro-Dollar currency pair ending the session broadly flat; establishes tight 1.0788 to 1.0834 range

Live - Updated 7 minutes ago.

After closing the previous trading day at 1.0822, Euro-Dollar is up to 1.0833, which makes for a move of 0.1%/10 pips today.

At the same time, Germany 10-Year Bund Auction released yesterday at 10:30 UTC with a figure of 2.38, while the previous figure was 2.23. United States API Weekly Crude Oil Stock came out at 7.17 million, while a consensus of analysts was expecting 4.30 million. United States 20-Year Bond Auction came out at 4.595.

Bollinger Band® analysis indicates that current price action is approaching the upper band at 1.0853, thereby suggesting that EUR/USD is becoming overvalued.

After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Euro-Dollar is set for a reversal in the coming days.

A look at other currencies also shows bullish price action as NZD/USD gained 0.29% and is now trading at 0.62. EUR/JPY gained 0.17% and is currently trading at 162.89.

At the same time, GBP/NZD closed at 2.0403 (down 0.19%).

Furthermore, the market is looking at tomorrow at 07:00 UTC data for Germany GDP will be released, with an expected decline to -0.3 from the preceding figure of -0.1.

Elsewhere, Euro Zone Consumer Price Index is expected today at 10:00 UTC. Euro Zone Consumer Price Index is expected today at 10:00 UTC.

Trading mostly sideways for a month. The current year has not been the best for Euro-Dollar as it lost 64.4% from its highest point of 1.1239.

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Week to date

The Euro is trading around 1.0833 after ending the previous session at zero (up 0%) .

As the trading week gets on its way, EUR/USD is up to 1.0833, after closing yesterday at zero. Overall, a 0% move or 10,833 pips this week. (Start trading Euro-Dollar at FXTM today).

Nevertheless, highly important Producer Price Index data from United States beat analyst expectations of 0.1% with a reading of 0.3%.

Meanwhile, Germany 10-Year Bund Auction released yesterday at 10:30 UTC with a figure of 2.38, while the previous figure was 2.23. 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 came out at -0.3%, while a consensus of analysts was expecting -0.2%. France HICP (MoM) (Jan) released Friday with a figure of -0.2, while the previous figure was 0.1.

Furthermore, the market is looking at Germany GDP expected to decline to -0.3 while its preceding data was -0.1, data will be available tomorrow at 07:00 UTC.

The market is looking forward to the release of new data: Euro Zone Consumer Price Index figure is projected at 2.8%. It previously stood at 2.9%; data will be released today at 10:00 UTC. Germany GDP is projected to outperform its last figure with -0.2%. It previously stood at -0.4%; data will be released tomorrow at 07:00 UTC.