After closing at 1.0731 yesterday, EUR/USD began today at 1.0724 with significant bullish sentiment driving EUR/USD's price action higher. So far today, price action has drawn out a distinct 1.0719 to 1.0764 range.
United States's Crude Oil Inventories new data released of 2.42 million below its previous figure.
This move comes while some more positive signs for Euro-Dollar are out as Crude Oil Inventories in United States fell short of market expectations (2.46 million) with a reading of 2.42 million, continuing the decline from the previous figure of 4.14 million.
Meanwhile, France Non-Farm Payrolls (QoQ) (Q4) came out at zero, while a consensus of analysts was expecting 0.2. Industrial Production in Germany fell short of market expectations (-0.7%) with a reading of -3.1%, continuing the decline from the previous figure of 0.4%.
A look at other currencies also shows bullish price action as GBP/NZD leaps up 0.53% to trade around 1.9138. GBP/CAD is up 0.57%. Having closed the previous session at 157.93, GBP/JPY is up 0.4% today to currently trade at around 158.57.
The market is looking forward to the release of new data: Germany Consumer Price Index is expected tomorrow at 07:00 UTC. Euro Zone EU Leaders Summit scheduled to come out tomorrow at 10:00 UTC. Germany Consumer Price Index figure is projected at 0.8%. It previously stood at -0.8%; data will be released tomorrow at 07:00 UTC.
The Euro is now trading 11.82% away from its significant low of 0.9596 first tested 4 months ago.