EUR/USD rallied to 1.0481, hitting its highest point in 4 months. It later lost 53 pips and is now trading at 1.0428.
The Euro is currently trading at 1.0428 following the release of Producer Price Index data from the United States.
Uptick comes while some more positive signs for the Euro are out as new United States Producer Price Index data fell short of the 0.4% projected by analysts with a reading of 0.2% while failing to improve upon the previous reading from last month (0.2%).
Meanwhile, Euro Zone ZEW Economic Sentiment Index released today at 10:00 UTC with a figure of -38.7, while the previous figure was -59.7. Euro Zone Trade Balance (Sep) came out at -34.4 billion, while a consensus of analysts was expecting -44.5 billion.
Other currencies are also rising as GBP/USD shoots up 1.72% to trade around 1.1959. GBP/CAD leaps up 1.39% to trade around 1.5867. GBP/NZD is up 0.73%.
Also worthy of note, Euro Zone ECB President Lagarde speech will be released tomorrow at 15:00 UTC. Italy Consumer Price Index figure is projected at 3.5%. It previously stood at 3.5%; data will be released tomorrow at 09:00 UTC. Germany 10-Year Bund Auction scheduled to come out tomorrow at 09:30 UTC. Euro Zone ECB's Elderson speech is scheduled for today at 17:30 UTC.
Euro-Dollar is now trading 7.63% away from its significant low of 0.9596 first tested a month ago.