While yesterday ended at 1.0408, today, EUR/USD rallied above 1.0452 for the first time in 5 months and a half and gained 38 pips — now trading at 1.0446.
Germany Manufacturing PMI is next today at 08:55 UTC.
This move comes while some more positive signs for the Euro are out as Crude Oil Inventories in United States fell short of market expectations (-2.76 million) with a reading of -12.58 million, continuing the decline from the previous figure of -3.69 million.
Nevertheless, highly important Unemployment Change data from Germany beat analyst expectations of 13,000 with a reading of 17,000.
At the same time, Euro Zone Consumer Price Index released yesterday at 10:00 UTC with a figure of 10%, while the previous figure was 10.6%.
Meanwhile, USD/JPY drops 1.05% to trade around 136.63. EUR/JPY is trading around 142.69 (down 98 pips). GBP/JPY is trading around 165.36 (down 110 pips).
The market is looking forward to the release of new data: Euro Zone ECB President Lagarde speech is scheduled for tomorrow at 02:40 UTC. Today at 07:00 UTC data for Germany Retail Sales will be released, with an expected decline to -0.6% from the preceding figure of 0.9%. Germany Trade Balance (Oct) is expected tomorrow at 07:00 UTC. Projections for Spain Unemployment Change are set for a continuation of decline with -20,300 while previous data was -27,000; data will be released tomorrow at 08:00 UTC.
After setting a supportive marker at 0.9596 around 2 months ago, Euro-Dollar is now trading 8.46% above this level.