The EURUSD has gained more than 300 pips in less than 24 hours, as news about a possible Greek bailout agreement circulated through the financial markets, while Eurozone data continued to outperform expectations.
The EURUSD was trading at 1.1258 in New York’s morning session, up more than 100 pips on the day. The pair has witnessed unprecedented gains since opening at 1.0926 on Tuesday.
Below is a breakdown of Wednesday’s Eurozone data releases:
- Markit Services PMI (May): 53.8
- Markit PMI Composite (May): 53.6
- YoY Retail Sales (April): 2.2%
- Unemployment Rate (May): 11.1%
- ECB Interest Rate Decision: 0.05%