ไทม์ไลน์ข่าวสาร forex

12:27 Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Friday, according to FXStreet data.

12:10 India Gold price today: Gold gains, according to MCX data
Gold prices rose in India on Friday, according to data from India's Multi Commodity Exchange (MCX).

12:05 GBP/JPY extends winning spell to 196.00 after BoJ keeps interest rates unchanged
The GBP/JPY pair extends its winning streak for the fourth trading session on Friday and rises to a historic high of 196.00.

GBP/JPY advances to 196.00 amid uncertainty over BoJ’s interest rate outlook.The BoJ sees inflation rising in the coming years but has projected weak economic growth.UK’s firm Services PMI has deepened fears of persistent inflationary pressures.The GBP/JPY pair extends its winning streak for the fourth trading session on Friday and rises to a historic high of 196.00. The cross strengthens after the interest rate decision from the Bank of Japan (BoJ) came in-line with market expectations. The BoJ kept interest rates steady in the range of 0%- 0.01%. The monetary policy statement indicated that the central bank remains on track for policy normalization. The BoJ said, “It will adjust the degree of monetary easing if the underlying inflation rate rises,” instead of currently buying about 6 trillion JPY worth of Japanese Government Bonds per month. For the economic and inflation outlook, the BoJ has forecasted weak growth and sees inflation rising in coming years. This has raised doubts among investors, as higher inflation could not be achieved by weak growth. It has also deepened uncertainty over the scope of policy tightening. Meanwhile, softer than expected, Tokyo’s annual Consumer Price Index (CPI) data for April has deepened doubts over Japan’s inflation, which remains above the 2% target. The annual CPI rose at a slower pace of 1.8% from expectations and the prior reading of 2.6%. Tokyo CPI excluding Fresh Food softened to 1.6% from the consensus of 2.2% and the former reading of 2.4%. On the United Kingdom front, the Pound Sterling performs strongly as strong Services PMI figures have deepened fears of persistent inflation. Higher Services PMI boosts employment and wage growth, which could stall progress in price pressures easing to the desired rate of 2%. This will prompt fears of UK interest rates remaining higher. GBP/JPY Overview Today last price 196.13 Today Daily Change 1.35 Today Daily Change % 0.69 Today daily open 194.78 Trends Daily SMA20 191.97 Daily SMA50 190.98 Daily SMA100 187.84 Daily SMA200 185.8 Levels Previous Daily High 194.95 Previous Daily Low 193.36 Previous Weekly High 192.84 Previous Weekly Low 190.3 Previous Monthly High 193.54 Previous Monthly Low 187.96 Daily Fibonacci 38.2% 194.34 Daily Fibonacci 61.8% 193.97 Daily Pivot Point S1 193.77 Daily Pivot Point S2 192.77 Daily Pivot Point S3 192.18 Daily Pivot Point R1 195.37 Daily Pivot Point R2 195.96 Daily Pivot Point R3 196.96

11:55 WTI edges lower to near $83.50 amid a weaker demand outlook following US GDP
West Texas Intermediate (WTI) crude Oil price trades near $83.40 per barrel, showing a slight decrease of 0.10% during the European hours on Friday.

The WTI price depreciates on a weaker demand outlook following US GDP data released on Thursday.US Treasury Secretary Janet Yellen said that US GDP growth for Q1 could be revised higher as more data becomes available.Israel intensifies air strikes on Rafah, disregarding cautions from allies regarding the risk of significant civilian casualties.West Texas Intermediate (WTI) crude Oil price trades near $83.40 per barrel, showing a slight decrease of 0.10% during the European hours on Friday. The US Gross Domestic Product Annualized (Q1) expanded at a slower pace of 1.6% compared to the previous reading of 3.4%, falling short of market expectations of 2.5%. This slowdown suggests potential headwinds or slowdowns in various sectors of the US economy, which could lead to reduced demand for Oil as economic activity moderates. In contrast, US consumer prices have shown resilience, with the Personal Consumption Expenditures (QoQ) Price Index for Q1 increasing at a 3.7% annual rate. This exceeded both market expectations of 3.4% and the previous reading of 2.0%. The WTI Oil price received support from remarks made by US Treasury Secretary Janet Yellen. Yellen stated in an interview with Reuters on Thursday that US GDP growth for the first quarter could potentially be revised higher as more data becomes available. Additionally, Yellen mentioned that inflation is expected to return to more normal levels after certain "peculiar" factors disrupt the economy. However, the price of black Gold was supported by potential supply risks related to the conflict in the Middle East, particularly stemming from the possibility of an Israeli invasion of the southern Gaza city of Rafah. As per a Reuters report, recent developments indicate heightened tensions in the region, with Israel intensifying air strikes on Rafah following its announcement to evacuate civilians from the southern Gazan city and proceed with an all-out assault, despite warnings from allies about the potential for mass casualties. WTI US OIL Overview Today last price 83.41 Today Daily Change -0.15 Today Daily Change % -0.18 Today daily open 83.56 Trends Daily SMA20 84.16 Daily SMA50 81.13 Daily SMA100 77.34 Daily SMA200 79.75 Levels Previous Daily High 83.58 Previous Daily Low 81.79 Previous Weekly High 85.67 Previous Weekly Low 81.05 Previous Monthly High 83.05 Previous Monthly Low 76.5 Daily Fibonacci 38.2% 82.9 Daily Fibonacci 61.8% 82.48 Daily Pivot Point S1 82.37 Daily Pivot Point S2 81.18 Daily Pivot Point S3 80.58 Daily Pivot Point R1 84.17 Daily Pivot Point R2 84.77 Daily Pivot Point R3 85.96

11:54 SNB’s Jordan: SNB will monitor inflation closely and adjust policy again when necessary
Swiss National Bank (SNB) Chairman Thomas J. Jordan speaks at the SNB’s General Meeting of Shareholders.

Swiss National Bank (SNB) Chairman Thomas J. Jordan speaks at the SNB’s General Meeting of Shareholders. Key Quotes SNB has been successful in fight against inflation. Uncertainty remains elevated, shocks can occur at any time. We should not be sidetracked from focus on price stability. Demands of critics for SNB to broaden mandate are dangerous. Market ReactionUSD/CHF falls to 0.9100, weighed down by subdued US Dollar. The US Dollar remains under pressure as weaker US Q1 Gross Domestic Product (GDP) growth has raised doubts for the economic outlook. The pair is expected to face sheer volatility after the release of the US core Personal Consumption Expenditure Price Index (PCE) data for March, which will be published at 12:30 GMT.

11:33 EUR/USD continues slogging higher prior to March US core PCE
EUR/USD trades in the 1.0740s on Friday, ahead of key data out of the US in the form of the March core Personal Consumption Expenditures Price Index (PCE), the US Federal Reserve’s (Fed) preferred gauge of inflation.

EUR/USD steadily climbs back above 1.0700 again despite weakness following inflationary US GDP data. Further volatility is possible once the core Personal Expenditures Price Index for March is released on Friday. The report could further tone the outlook for US interest rates, impacting the value of USD. EUR/USD trades in the 1.0740s on Friday, ahead of key data out of the US in the form of the March core Personal Consumption Expenditures Price Index (PCE), the US Federal Reserve’s (Fed) preferred gauge of inflation. The pair lost ground on Thursday after the release of the Q1 US GDP report but has since recovered and resumed its short-term uptrend. The core PCE data, which is released by the US Bureau of Economic Analysis (BEA) at 12:30 GMT, could alter market perceptions about the timing of Fed interest-rate cuts with implications for EUR/USD. EUR/USD recovers from post-GDP data decline EUR/USD has recovered back up to the 1.0730s after declining sharply to a low of 1.0678 on Thursday following the release of US first-quarter GDP data. Although annualized GDP growth missed consensus expectations and fell below the previous quarter’s growth rate, the Personal Consumption Expenditures Prices component, which measures the change in prices of goods, came in way higher compared with previous quarter and supported the US Dollar (USD). The inflationary data meant that markets dialed back their expectation of when the Federal Reserve (Fed) will start cutting interest rates, with the chance of a rate cut by the July meeting falling from 50% on the previous day to 34% afterwards, according to analysts at Deutsche Bank. The expectation of interest rates staying higher for longer temporarily strengthened the Greenback – but weighed on EUR/USD – because higher interest rates attract more foreign capital inflows. EUR/USD at risk of more volatility EUR/USD may now be vulnerable to more volatility when the monthly core PCE is released at 12:30 GMT. Although the market has already been alerted to a likely upside surprise by the data in the GDP report for the quarter, the core PCE for March out on Friday will provide more detail. EUR/USD is likely to decline if core PCE shows a reading that is higher than the 2.6% expected by economists (0.3% MoM), particularly if it is above the 2.8% reading from the previous month. A higher-than-forecast reading would indicate persistent price pressures and encourage the Fed to maintain interest rates at their current level for longer. A lower-than-forecast reading would bring forward the time the Fed is expected to make its first interest-rate cut, weakening USD and lifting the EUR/USD exchange rate. The CME FedWatch Tool, a market-based gauge of when the Fed is likely to alter interest rates, places the first rate cut as happening in September, with a 59% probability. Beyond the US PCE data, the calendar shows little in the way of hard data that is likely to impact the Euro (EUR) side of the pair, although commentary from European Central Bank (ECB) officials could still cause some turbulence. Technical Analysis: EUR/USD continues slowly correcting higher EUR/USD continues correcting higher despite experiencing a pullback down below the 1.0700 level after the release of US GDP data on Thursday. It has broken out of the rectangular range it was trading in on the 4-hour chart after piercing above the rectangle’s ceiling at 1.0700. The Bear Flag price pattern which was unfolding between April 16-22 looks deformed by the persistent price action above 1.0700 and is less credible. EUR/USD 4-hour ChartThe establishment of a rising sequence of peaks and troughs on the 4-hour chart strengthens the argument that the short-term trend has turned bullish and therefore suggestive of more gains. If it continues marching higher, resistance from a previous lower high on April 11 gives an initial target at 1.0757. Then the 50-day and 200-day Simple Moving Averages (SMA) on the daily chart (not shown) are likely to resist at 1.0807. On the other hand, a break below the 1.0601 April 16 low would revive the Bear Flag hypothesis. According to technical lore, the expected move down from a Bear Flag equals the length of the preceding “pole” or a Fibonacci ratio of the pole. The Fibonacci 0.618 ratio of the pole extrapolated lower gives a conservative target at 1.0503. The next concrete target is at 1.0448 – the October 2023 low. A fall of equal length to the pole would take EUR/USD to 1.0403.

11:32 Pound sterling holds gains ahead of US core PCE Inflation
The Pound Sterling (GBP) clings to gains near 1.2500 against US Dollar (USD) in Friday’s London session.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Pound Sterling remains upbeat against the US Dollar ahead of the US core PCE Price Index data.Weak US Q1 GDP data has kept the US Dollar on the back foot.The UK service sector’s upbeat outlook has increased fears of persistent inflation.The Pound Sterling (GBP) clings to gains near 1.2500 against US Dollar (USD) in Friday’s London session. The GBP/USD pair shows strength as recent survey data has shown an improved economic outlook for the United Kingdom even though the Bank of England (BoE) is maintaining interest rates higher. The preliminary PMI report from S&P Global/CIPS for April released on Tuesday showed that activity in the services sector remains robust, pushing overall activity higher despite a lagging Manufacturing PMI. The data also showed that new business inflows in the service sector remain strong. Higher demand for services tends to boost employment and wages in the sector, contributing to inflation pressures. This could stall progress in inflation easing to the desired rate of 2%. Also, BoE policymakers have remained worried about high service inflation. Currently, the UK annual service inflation is at 6%, higher than what is required to be consistent for bringing down inflation to the 2% target. A few BoE policymakers see inflation receding sharply in upcoming months but still refrain from providing a concrete time frame for interest-rate cuts. In the press conference after the last monetary policy meeting, BoE Governor Andrew Bailey said market expectations for two or three rate cuts this year are not “unreasonable”. Daily digest market movers: Pound Sterling trades close to 10-day high of 1.2500 The Pound Sterling holds strength near a ten-day high at around the psychological figure of 1.2500 against the US Dollar. The Cable remains upbeat as the US Dollar has come under pressure after the preliminary United States Gross Domestic Product (GDP) growth in the first quarter turned out weaker than expected. The US Bureau of Economic Analysis (BEA) reported on Thursday that the economy expanded at a slower pace of 1.6% in Q1, below expectations of 2.5% and the prior reading of 3.4%. Despite the data miss, traders maintain strong bets for the Federal Reserve to start reducing interest rates from September or in the fourth quarter as the GDP Price Index was significantly higher. The inflation measure rose to 3.1% from the prior reading of 1.7%. Meanwhile, investors shift focus to the core Personal Consumption Expenditures (PCE) Price Index data for March, which will be published at 12:30 GMT. Core PCE inflation is expected to have grown steadily by 0.3% on a month-on-month basis, with annual figures softening to 2.6% from the 2.8% recorded in February. Stubborn inflation data could allow the Fed to maintain a hawkish rhetoric. Fed policymakers have been reiterating that interest-rate cuts are only appropriate when they are convinced that inflation will return sustainably to the 2% target. After the underlying inflation data, investors will focus on the Fed’s monetary policy decision, which will be announced on Wednesday. The Fed is widely anticipated to keep interest rates unchanged in the range of 5.25%-5.50%. Investors will keenly focus on the Fed’s guidance for interest rates. Technical Analysis: Pound Sterling hovers near 1.2500 The Pound Sterling trades near Thursday’s high at around 1.2500 against the US Dollar. The GBP/USD pair struggles to extend the upside above the 20-day Exponential Moving Average (EMA), which trades around 1.2510. The 14-period Relative Strength Index (RSI) rebounds above 40.00, suggesting that a bearish momentum might have concluded for now. However, the long-term bearish bias remains intact. A sustainable move above the psychological resistance of 1.2500 will drive the pair towards the 200-day EMA, which hovers around 1.2550. On the other side, a downside move below Wednesday’s low at around 1.2430 will expose GBP/USD to a five-month low at around 1.2300. Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, aka ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE). How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects. How does economic data influence the value of the Pound? Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall. How does the Trade Balance impact the Pound? Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

11:01 Eurozone M3 Money Supply (3m) increased to 0.4% in March from previous 0.2%
Eurozone M3 Money Supply (3m) increased to 0.4% in March from previous 0.2%

11:01 Eurozone Private Loans (YoY) came in at 0.2%, below expectations (0.3%) in March
Eurozone Private Loans (YoY) came in at 0.2%, below expectations (0.3%) in March

11:00 Eurozone M3 Money Supply (YoY) above forecasts (0.5%) in March: Actual (0.9%)
Eurozone M3 Money Supply (YoY) above forecasts (0.5%) in March: Actual (0.9%)

11:00 Austria Purchasing Manager Index increased to 43.5 in April from previous 42.2
Austria Purchasing Manager Index increased to 43.5 in April from previous 42.2

10:36 Forex Today: Japanese Yen falls on BoJ inaction, focus shifts to US PCE inflation
Here is what you need to know on Friday, April 26: The Japanese Yen (JPY) stays under bearish pressure and trades at its weakest level in over three decades against the US Dollar following the Bank of Japan's (BoJ) decision to leave the monetary policy settings unchanged.

10:25 FX option expiries for Apr 26 NY cut
FX option expiries for Apr 26 NY cut at 10:00 Eastern Time, via DTCC, can be found below EUR/USD: EUR amounts 1.0600 1.6b 1.0610 800m 1.0645 2.2b 1.0680 814m 1.0700 987m 1.0750 1.6b 1.0780 1.1b GBP/USD: GBP amounts 1.2365 685m 1.2430 1.1b 1.2500 726m USD/JPY: USD amounts 153.50 672m 154.00 712m 155.00 1.5b 156.50 531m USD/CHF: USD amounts 0.9100 565m AUD/USD: AUD amounts 0.6400 469m 0.6500 462m USD/CAD: USD amounts 1.3560 400m 1.3775 396m NZD/USD: NZD amounts 0.5940 386m 0.6100 605m .

FX option expiries for Apr 26 NY cut at 10:00 Eastern Time, via DTCC, can be found below EUR/USD: EUR amounts 1.0600 1.6b 1.0610 800m 1.0645 2.2b 1.0680 814m 1.0700 987m 1.0750 1.6b 1.0780 1.1b GBP/USD: GBP amounts 1.2365 685m 1.2430 1.1b 1.2500 726m USD/JPY: USD amounts 153.50 672m 154.00 712m 155.00 1.5b 156.50 531m USD/CHF: USD amounts 0.9100 565m AUD/USD: AUD amounts 0.6400 469m 0.6500 462m USD/CAD: USD amounts 1.3560 400m 1.3775 396m NZD/USD: NZD amounts 0.5940 386m 0.6100 605m

10:00 Spain Retail Sales (YoY) fell from previous 1.9% to 0.6% in March
Spain Retail Sales (YoY) fell from previous 1.9% to 0.6% in March

10:00 Spain Unemployment Survey above expectations (11.7%) in 1Q: Actual (12.29%)
Spain Unemployment Survey above expectations (11.7%) in 1Q: Actual (12.29%)

09:46 USD/CHF gains ground above 0.9100, US PCE data looms
The USD/CHF pair trades on a stronger note around 0.9130 during the early European session on Friday.

USD/CHF trades in positive territory near 0.9130 on Friday. The US economy expanded at the slowest pace in two years, below the consensus. The escalating Middle East tensions might boost the safe-haven CHF. The USD/CHF pair trades on a stronger note around 0.9130 during the early European session on Friday. The modest rebound of the US Dollar (USD) provides some support to the pair. Traders prefer to wait on the sideline ahead of the Swiss National Bank’s (SNB) Chairman Jordan speech, followed by the final reading of the US March Personal Consumption Expenditures Price Index (PCE) on Friday.

The US advance estimate of Gross Domestic Product (GDP) number grew far less than estimated in the first quarter of 2024, according to the Bureau of Economic Analysis on Thursday. The US economy grew at an annualized pace of 1.6% during the period, missing the expectation of 2.5% growth and coming in lower than fourth quarter GDP, which was revised up to 3.4%. The Greenback attracted some sellers after the data was released.

Nonetheless, a surprising upside in the quarterly Personal Consumption Expenditure (PCE) inflation measure suggested that the US Federal Reserve (Fed) would not cut interest rates before September. The PCE figure rose at an annualized rate of 3.4% in Q1, compared to the 1.8% pace recorded in Q4 2023. The recent inflation data dampened the hope for June rate cuts, and investors forecast one cut this year, down from three cuts just a few weeks ago. This, in turn, might cap the downside for the Greenback in the near term.

On the Swiss front, Switzerland’s ZEW Survey Expectations rose to 17.6 in April from the previous reading of 11.5, the Centre for European Economic Research revealed on Wednesday. Furthermore, the rising geopolitical tensions in the Middle East, particularly in Israel and Iran, might boost safe-haven asset flows, benefiting the Swiss Franc (CHF). USD/CHF Overview Today last price 0.9125 Today Daily Change 0.0003 Today Daily Change % 0.03 Today daily open 0.9122 Trends Daily SMA20 0.9088 Daily SMA50 0.8948 Daily SMA100 0.8788 Daily SMA200 0.8844 Levels Previous Daily High 0.9157 Previous Daily Low 0.9118 Previous Weekly High 0.9152 Previous Weekly Low 0.9012 Previous Monthly High 0.9072 Previous Monthly Low 0.873 Daily Fibonacci 38.2% 0.9133 Daily Fibonacci 61.8% 0.9142 Daily Pivot Point S1 0.9108 Daily Pivot Point S2 0.9093 Daily Pivot Point S3 0.9068 Daily Pivot Point R1 0.9147 Daily Pivot Point R2 0.9172 Daily Pivot Point R3 0.9187

09:45 France Consumer Confidence came in at 90, below expectations (92) in April
France Consumer Confidence came in at 90, below expectations (92) in April

09:37 BoJ's Ueda: Easy financial conditions will be maintained for the time being
Speaking at the post-policy meeting press conference on Friday, Bank of Japan (BoJ) Governor Kazuo Ueda said that the Bank “will adjust the degree of monetary easing if underlying inflation rate rises,” adding that “easy financial conditions will be maintained for the time being.” The BoJ kept the interest rate on hold at 0% following the April meeting.

09:22 USD/CAD depreciates to near 1.3650 due to higher crude prices, US PCE eyed
USD/CAD extends its losses for the second consecutive day, trading around 1.3640 during the Asian session on Friday.

USD/CAD loses ground due to higher crude Oil prices on Friday.WTI Oil price appreciates due to geopolitical risks associated with a potential Israeli invasion of the Rafah city.The lower US labor data has offset concerns regarding the sluggish GDP (Q1).USD/CAD extends its losses for the second consecutive day, trading around 1.3640 during the Asian session on Friday. The Canadian Dollar (CAD) receives support from higher US crude Oil prices, contributing to the weakening of the USD/CAD pair. West Texas Intermediate (WTI) crude Oil price edges higher to near $83.80 per barrel, supported by potential geopolitical risks stemming from a possible Israeli invasion of the southern Gaza city of Rafah. On the data front, recent Canadian Retail Sales data for February highlighted economic deceleration. Additionally, domestic annual inflation in Canada stood at 2.9% in March, below expectations, indicating the potential for lower underlying inflation. This scenario may lead the Bank of Canada to consider interest rate cuts, which could limit the gains of the Canadian Dollar. In contrast, US labor data offset sluggish GDP growth, dampening expectations for Federal Reserve interest rate cuts. The US Gross Domestic Product Annualized (Q1) expanded at a slower pace of 1.6% compared to the previous reading of 3.4%, falling short of market expectations of 2.5%. The slowdown in the US economy suggests potential challenges or deceleration in various sectors. Looking ahead, market attention is now focused on the US Personal Consumption Expenditures (PCE) Price Index data for March, scheduled for release on Friday. Additionally, the US Initial Jobless Claims for the week ending on April 19 saw a significant decrease, dropping by 5,000 to 207,000. This figure marks the lowest level seen in two months and exceeds both market expectations of 214,000 and the previous reading of 212,000. The unexpected decline in jobless claims indicates a strengthening labor market, implying reduced layoffs and potentially increased hiring activity. USD/CAD Overview Today last price 1.3641 Today Daily Change -0.0016 Today Daily Change % -0.12 Today daily open 1.3657 Trends Daily SMA20 1.3663 Daily SMA50 1.3583 Daily SMA100 1.3499 Daily SMA200 1.3539 Levels Previous Daily High 1.3731 Previous Daily Low 1.365 Previous Weekly High 1.3846 Previous Weekly Low 1.3724 Previous Monthly High 1.3614 Previous Monthly Low 1.342 Daily Fibonacci 38.2% 1.3681 Daily Fibonacci 61.8% 1.37 Daily Pivot Point S1 1.3628 Daily Pivot Point S2 1.3599 Daily Pivot Point S3 1.3547 Daily Pivot Point R1 1.3709 Daily Pivot Point R2 1.3761 Daily Pivot Point R3 1.379

09:00 Sweden Trade Balance (MoM) down to 4.8B in March from previous 9.3B
Sweden Trade Balance (MoM) down to 4.8B in March from previous 9.3B

09:00 US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core Personal Consumption Expenditures (PCE) Price Index, the US Federal Reserve’s (Fed) preferred inflation measure, will be published on Friday by the US Bureau of Economic Analysis (BEA) at 12:30 GMT.

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50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The core Personal Consumption Expenditures Price Index is set to rise 0.3% MoM and 2.6% YoY in March.Markets see a strong chance of the Federal Reserve keeping the policy rate unchanged in June.The market reaction to the data could remain short-lived.The core Personal Consumption Expenditures (PCE) Price Index, the US Federal Reserve’s (Fed) preferred inflation measure, will be published on Friday by the US Bureau of Economic Analysis (BEA) at 12:30 GMT. What to expect in the Federal Reserve’s preferred PCE inflation report? The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase. March core PCE is also projected to grow at an annual pace of 2.6%, while the headline PCE inflation is forecast to tick up to 2.6% (YoY) from 2.5%. The Federal Reserve’s revised Summary of Economic Projections (SEP), also known as the dot plot – published alongside the policy statement after the March meeting – showed that policymakers expect the annual core PCE inflation to be at 2.6% at the end of 2024, up from the 2.4% forecast seen in the December’s SEP. On Thursday, the BEA reported that the core PCE Price Index rose 3.4% on a quarterly basis in the first quarter, at a much stronger pace than the 1.8% increase seen in the last quarter of 2023. The initial market reaction to this data helped the US Dollar (USD) gather strength against its rivals. Since the quarterly figures were already unveiled, markets are likely to pay little to no attention to the monthly PCE inflation numbers. Previewing the PCE Price Index data, “another firm increase in March CPI inflation will likely result in a still firm 0.25% m/m gain for the core PCE — though we flag that the risk to our forecast is to the upside,” said TD Securities analysts in a weekly report and added:
“The PCE's supercore likely rebounded to 0.30% m/m after a modest 0.18% gain in February. Separately, personal spending likely ended the quarter on a strong note, expanding again at a solid pace in March.” When will the PCE inflation report be released, and how could it affect EUR/USD? The PCE inflation data is slated for release at 12:30 GMT. The monthly core PCE Price Index gauge is the most-preferred inflation reading by the Fed, as it’s not distorted by base effects and provides a clear view of underlying inflation by excluding volatile items. Investors, therefore, pay close attention to the monthly core PCE figure. The CME Group FedWatch Tool shows that markets are currently pricing in a higher-than-80% probability that the Fed will leave the policy rate unchanged at 5.25%-5.5% in June. Monthly PCE data for March, however, are unlikely to influence the market expectation in a significant way, especially following the release of the quarterly data. Nevertheless, in case the monthly core PCE Price Index rises less than forecast, the immediate reaction could trigger a short-lasting USD weakness. On the other hand, the market positioning suggests that there isn’t a lot of room left for further USD strength if the data surprise to the upside.FXStreet Analyst Eren Sengezer offers a brief technical outlook for EUR/USD and explains: “The 200-day Simple Moving Average (SMA) and the 50-day SMA form a strong resistance for EUR/USD at 1.0800. As long as this level stays intact as resistance, technical sellers could look to retain control. On the downside, 1.0650 (static level) aligns as interim support before next support at 1.0600 (2024 low set on April 16). In case EUR/USD manages to stabilize above 1.0800, buyers could remain interested and open the door for an extended rebound toward 1.0900 (psychological level, static level) and 1.0950 (static level from March). Economic Indicator Personal Consumption Expenditures - Price Index (YoY) The Personal Consumption Expenditures (PCE), released by the US Bureau of Economic Analysis on a monthly basis, measures the changes in the prices of goods and services purchased by consumers in the United States (US). The YoY reading compares prices in the reference month to a year earlier. Price changes may cause consumers to switch from buying one good to another and the PCE Deflator can account for such substitutions. This makes it the preferred measure of inflation for the Federal Reserve. Generally, a high reading is bullish for the US Dollar (USD), while a low reading is bearish. Read more. Last release: Fri Mar 29, 2024 12:30 Frequency: MonthlyActual: 2.5%Consensus: 2.5%Previous: 2.4%Source: US Bureau of Economic Analysis US Dollar FAQs What is the US Dollar? The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away. How do the decisions of the Federal Reserve impact the US Dollar? The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback. What is Quantitative Easing and how does it influence the US Dollar? In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar. What is Quantitative Tightening and how does it influence the US Dollar? Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.

08:20 NZD/USD remains firmer around 0.5950 due to improved risk appetite
The NZD/USD pair showed positive movement, trading around 0.5960 during the Asian session on Friday.

NZD/USD remains steady due to risk appetite improvements for risk-sensitive currencies.The gains of the US Dollar could be limited due to the lower US Treasury yields.New Zealand’s ANZ-Roy Morgan Consumer Confidence decreased to 82.1 in April, reaching its lowest level since 2008.The NZD/USD pair showed positive movement, trading around 0.5960 during the Asian session on Friday. The New Zealand Dollar (NZD), known for its sensitivity to risk sentiment, gained momentum as risk appetite improved, supporting the NZD/USD pair. However, the pair trimmed some of its intraday gains due to a rebound in the US Dollar (USD).The US Dollar Index (DXY), which measures the USD against six major currencies, edges up to near 105.70, although its gains may be limited by a downward correction in US Treasury yields, contributing to the USD's weakness. On Thursday, mixed preliminary data from the United States (US) put pressure on the Greenback. The US Gross Domestic Product Annualized (Q1) expanded at a slower pace of 1.6% compared to the previous reading of 3.4%, falling short of market expectations of 2.5%. This slowdown suggests potential headwinds or slowdowns in various sectors of the economy. However, US consumer prices have shown resilience, with the Personal Consumption Expenditures (QoQ) Price Index for Q1 increasing at a 3.7% annual rate. This exceeded both market expectations of 3.4% and the previous reading of 2.0%, indicating prevailing inflationary pressures that could influence Federal Reserve (Fed) monetary policy decisions. On the Kiwi's side, Friday's ANZ-Roy Morgan Consumer Confidence slipped to 82.1 in April, from the previous reading of 86.4. This has marked its lowest level since 2008. Despite this decline, New Zealand's consumer confidence remains relatively elevated. Additionally, Stats NZ reported a trade surplus in March, driven by exports reaching a 10-month high while imports fell to a 2-month low. The decrease in imports reflects a sluggish economy, as both households and businesses grapple with the impact of high interest rates. Looking ahead, market attention is now focused on the US Personal Consumption Expenditures (PCE) Price Index data for March, slated for release on Friday. This data is expected to garner significant interest from investors as they assess its implications for inflationary pressures and potential effects on US monetary policy. NZD/USD Overview Today last price 0.596 Today Daily Change 0.0012 Today Daily Change % 0.20 Today daily open 0.5948 Trends Daily SMA20 0.596 Daily SMA50 0.6049 Daily SMA100 0.6115 Daily SMA200 0.6048 Levels Previous Daily High 0.5969 Previous Daily Low 0.5919 Previous Weekly High 0.5954 Previous Weekly Low 0.5851 Previous Monthly High 0.6218 Previous Monthly Low 0.5956 Daily Fibonacci 38.2% 0.595 Daily Fibonacci 61.8% 0.5938 Daily Pivot Point S1 0.5922 Daily Pivot Point S2 0.5895 Daily Pivot Point S3 0.5871 Daily Pivot Point R1 0.5972 Daily Pivot Point R2 0.5996 Daily Pivot Point R3 0.6023

08:16 EUR/USD trades with negative bias, holds above 1.0700 as traders await US PCE Price Index
The EUR/USD pair edges lower during the Asian session on Friday and moves away from a two-week high, around the 1.0740 area touched the previous day.

EUR/USD meets with some supply amid the emergence of some USD buying on Friday.Bets that the Fed will keep rates higher for longer amid sticky inflation underpin the USD.Traders, however, seem reluctant and look to the US PCE Price Index for a fresh impetus.The EUR/USD pair edges lower during the Asian session on Friday and moves away from a two-week high, around the 1.0740 area touched the previous day. Spot prices currently trade around the 1.0725-1.0720 region and remain at the mercy of the US Dollar (USD) price dynamics ahead of the crucial US data. The US Personal Consumption Expenditures (PCE) Price Index data is due for release later during the North American session and will be looked upon for cues about the Federal Reserve's (Fed) rate cut path. This, in turn, will play a key role in influencing the near-term USD price dynamics. In the meantime, growing acceptance that the US central bank will keep interest rates higher for longer lends some support to the Greenback and exerts some downward pressure on the EUR/USD pair. Investors have pushed back their expectations about the timing of the first rate cut by the Fed to September. The bets were reaffirmed by data released on Thursday, which showed that the underlying inflation rose more than expected in the first quarter. This helps offset a deceleration in the economic growth to a 1.6% annualized rate during the January-March quarter – marking the weakest reading since mid-2022 – and keeps the US Treasury bond yields elevated, underpinning the USD. Apart from this, bets that the European Central Bank (ECB) will start cutting interest rates in June, amid a faster-than-anticipated fall in the Eurozone inflation, suggests that the path of least resistance for the EUR/USD pair is to the downside. That said, it will still be prudent to wait for strong follow-through selling before confirming that the recent recovery from the 1.0600 mark, or the YTD low has run its course traders await the key US inflation data. EUR/USD Overview Today last price 1.0722 Today Daily Change -0.0008 Today Daily Change % -0.07 Today daily open 1.073 Trends Daily SMA20 1.0732 Daily SMA50 1.0807 Daily SMA100 1.0848 Daily SMA200 1.0808 Levels Previous Daily High 1.0741 Previous Daily Low 1.0678 Previous Weekly High 1.069 Previous Weekly Low 1.0601 Previous Monthly High 1.0981 Previous Monthly Low 1.0768 Daily Fibonacci 38.2% 1.0717 Daily Fibonacci 61.8% 1.0702 Daily Pivot Point S1 1.0692 Daily Pivot Point S2 1.0654 Daily Pivot Point S3 1.063 Daily Pivot Point R1 1.0754 Daily Pivot Point R2 1.0779 Daily Pivot Point R3 1.0816

08:00 Singapore Industrial Production (MoM) below forecasts (-8.8%) in March: Actual (-16%)
Singapore Industrial Production (MoM) below forecasts (-8.8%) in March: Actual (-16%)

08:00 Singapore Industrial Production (YoY) below expectations (-1.5%) in March: Actual (-9.2%)
Singapore Industrial Production (YoY) below expectations (-1.5%) in March: Actual (-9.2%)

07:12 EUR/JPY extends rally above 167.50 following BoJ rate decision
The EUR/JPY cross drifts higher to 167.20, its highest level since 2008, during the Asian trading hours on Friday.

EUR/JPY gains ground near 167.20 amid the weaker JPY on Friday. The BoJ kept interest rates steady around zero on Friday. ECB’s Nagel said he would be in favor of a rate cut in June. The EUR/JPY cross drifts higher to 167.20, its highest level since 2008, during the Asian trading hours on Friday. The uptick of the cross is supported by the weaker Japanese Yen (JPY) after the Bank of Japan (BoJ) announced its policy decision.

The Bank of Japan (BoJ) board members decided to leave the key interest rate unchanged at 0% at its April policy meeting on Friday, as widely expected. The Japanese central bank hiked rates for the first time since 2007 in its March meeting, ending Japan’s negative interest rate era that began in 2016. Furthermore, the BoJ provided new forecasts predicting that inflation would remain close to its 2% target over the next three years, indicating that it is prepared to raise borrowing rates later this year. The central bank added it would continue to purchase government bonds in accordance with guidance decided in March to acquire around 6 trillion yen ($38.45 billion) per month. Following the meeting, the Japanese Yen (JPY) attracts some sellers against the Euro (EUR).

The recent consumer inflation in Tokyo declined sharply in April. The Statistics Bureau of Japan reported on Friday that the headline Tokyo Consumer Price Index (CPI) for April rose 1.8% YoY, compared to the previous reading of a 2.6% rise. Meanwhile, the Tokyo CPI ex Fresh Food, Energy increased 1.8% YoY versus 2.7% expected and the previous reading of 2.9% rise. The softer inflation in Tokyo also weighs on the safe-haven JPY.

On the Euro front, European Central Bank (ECB) policymaker Joachim Nagel said on Wednesday that he would be in favor of a rate cut in June, adding that such a step would not necessarily be followed by a series of rate cuts. The ECB’s Fabio Panetta said small interest rate cuts will stem the risk of prolonged economic stagnation in the euro area. EUR/JPY Overview Today last price 167.21 Today Daily Change 0.19 Today Daily Change % 0.11 Today daily open 167.02 Trends Daily SMA20 164.5 Daily SMA50 163.46 Daily SMA100 161.07 Daily SMA200 159.9 Levels Previous Daily High 167.09 Previous Daily Low 165.93 Previous Weekly High 165.03 Previous Weekly Low 162.67 Previous Monthly High 165.36 Previous Monthly Low 160.22 Daily Fibonacci 38.2% 166.65 Daily Fibonacci 61.8% 166.37 Daily Pivot Point S1 166.27 Daily Pivot Point S2 165.52 Daily Pivot Point S3 165.11 Daily Pivot Point R1 167.43 Daily Pivot Point R2 167.84 Daily Pivot Point R3 168.59

07:08 Gold price flatlines as traders look to US PCE Price Index for some meaningful impetus
Gold price (XAU/USD) struggles to capitalize on the previous day's modest gains and oscillates in a narrow range during the Asian session on Friday amid mixed fundamental cues.

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The US GDP report released on Thursday pointed to a significant loss of growth momentum at the start of 2024 and an unwelcome pickup in inflation. This, along with the subdued US Dollar (USD) price action, acts as a tailwind for the precious metal, which is considered as a hedge against inflation. The upside, however, remains capped in the wake of hawkish Federal Reserve (Fed) expectations. Investors seem convinced that the US central bank will keep interest rates higher for longer amid sticky inflation. This remains supportive of elevated US Treasury bond yields and lends support to the Greenback. Apart from this, a positive tone around the equity markets further contributes to keeping a lid on the safe-haven Gold price. Traders also seem reluctant and prefer to wait for the release of the US Personal Consumption Expenditures (PCE) Price Index for cues about the Fed's rate-cut path, which should determine the next leg of a directional move for the XAU/USD. Daily Digest Market Movers: Gold price traders await more cues about the Fed’s rate-cut path before placing directional bets The US GDP report released on Thursday showed a sharp deceleration in economic growth and stubborn inflation, which, in turn, is seen as a key factor lending support to the Gold price. According to the data published by the US Commerce Department, the world’s largest economy grew by 1.6% at an annualized rate in the first quarter, marking the weakest reading since mid-2022. Additional details of the report revealed that underlying inflation rose more than expected, by 3.7%, in the first quarter, reaffirming bets that the Federal Reserve will keep rates higher for longer. The yield on the benchmark 10-year US government bond shot to the highest level in more than five months in reaction to the mixed data and acts as a headwind for the non-yielding yellow metal. This, along with easing fears about a further escalation of geopolitical tensions in the Middle East, undermines the safe-haven precious metal and should contribute to capping the upside. The US Dollar bulls, meanwhile, prefer to wait for more cues about the Fed’s rate cut path, putting the focus squarely on the release of the Personal Consumption Expenditures (PCE) Price Index. The crucial inflation data will play a key role in influencing the Fed’s future policy decisions and driving the USD demand, which should help in determining the near-term trajectory for the commodity. Technical Analysis: Gold price consolidates in a range, $2,300 holds the key for bulls and should act as a strong base From a technical perspective, the XAU/USD, so far, has been struggling to make it through the 100-period Simple Moving Average (SMA) on the daily chart. The said barrier is currently pegged near the $2,345 region and should now act as a key pivotal point amid mixed oscillators on the daily chart. Meanwhile, a sustained strength beyond will be seen as a fresh trigger for bullish traders and lift the Gold price to the next relevant hurdle near the $2,371-2,372 region. The subsequent move up could extend further towards the $2,400 round figure en route to the all-time peak, around the $2,431-2,432 area touched earlier this month. On the flip side, bearish traders are likely to wait for some follow-through selling and acceptance below the $2,300 mark before placing fresh bets. The Gold price might then extend the corrective decline further towards the $2,260-2,255 intermediate support before eventually dropping to the $2,225 area and the $2,200-2,190 region, representing the 50-day Simple Moving Average (SMA). Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves. How is Gold correlated with other assets? Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal. What does the price of Gold depend on? The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

06:53 Australian Dollar pares gains amid improved US Dollar, awaits US PCE
The Australian Dollar (AUD) continues its upward trend for the fifth consecutive session on Friday.

.fxs-faq-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left;font-family:Roboto,sans-serif}.fxs-faq-module-title{color:#1b1c23;font-size:16px;font-style:italic;font-weight:700;line-height:22.4px;text-transform:uppercase;background:#f3f3f8;padding:8px 16px;margin:0}.fxs-faq-module-container{padding:16px;width:100%;box-sizing:border-box;display:flex;flex-direction:column;gap:12px}.fxs-faq-module-section{padding-bottom:16px;border-bottom:1px solid #ececf1;margin-bottom:0}.fxs-faq-module-section:last-child{border:none;margin-bottom:0}.fxs-faq-module-container input[type=checkbox]{display:none}.fxs-faq-module-header{padding:4px 0;background-color:#fff;border:none;position:relative;cursor:pointer;margin:0}.fxs-faq-module-header label{display:block;cursor:pointer}.fxs-faq-module-header label span{display:block;width:calc(100% - 50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Australian Dollar remains firmer due to the hawkish sentiment surrounding RBA’s rate trajectory.The Australian Dollar gains in response to the Aussie 10-year yield hitting a 21-week high of 4.59%.The rebound of the US Dollar could be attributed to a shift in market sentiment toward risk-off.The Australian Dollar (AUD) continues its upward trend for the fifth consecutive session on Friday. The Australian Dollar (AUD) gains momentum against the US Dollar (USD) amid growing support for a hawkish stance from the Reserve Bank of Australia (RBA). This sentiment is strengthened by the reassessment by TD Securities, pushing back the anticipated rate cut by the RBA to February 2025 from November. The Australian Dollar strengthened further on the back of rising yields in Australian government bonds, with the 10-year yield hitting a 21-week high of 4.59%. This surge is attributed to the recent release of Australia's Consumer Price Index (CPI) data on Wednesday, which surpassed expectations and triggered a hawkish sentiment surrounding the RBA.The US Dollar Index (DXY), which measures the performance of the US Dollar (USD) against six major currencies, rebounds, potentially influenced by a shift toward risk-off sentiment. However, this gain could be limited due to the downward correction in US Treasury yields, which contributed to the weakening of the Greenback. Despite mixed preliminary data released from the United States (US) on Thursday, including higher-than-expected Core Personal Consumption Expenditures and lower-than-expected Gross Domestic Product Annualized for the first quarter, the US Dollar remained subdued. Market attention now turns to the US Personal Consumption Expenditures (PCE) Price Index data for March, scheduled for release on Friday. This data is anticipated to draw significant focus as investors gauge its implications for inflationary pressures and potential impacts on US monetary policy. Daily Digest Market Movers: Australian Dollar appreciates due to the hawkish RBA In the first quarter, the US Gross Domestic Product Annualized (Q1) expanded at a slower pace, growing by 1.6% compared to the previous reading of 3.4%. This figure fell short of market expectations, which anticipated a growth rate of 2.5%. The deceleration in GDP growth suggests potential headwinds or slowdowns in various sectors of the economy. US consumer prices have demonstrated resilience, with the latest data indicating that the Personal Consumption Expenditures (QoQ) Price Index for Q1 increased at a 3.7% annual rate. This surpassed both market expectations of 3.4% and the previous reading of 2.0%. The persistent upward movement in consumer prices may indicate ongoing inflationary pressures, which could influence monetary policy decisions by the Federal Reserve. The US Initial Jobless Claims for the week ending on April 19 experienced a significant decrease, falling by 5,000 to 207,000. This figure marks the lowest level seen in two months and surpasses both market expectations of 214,000 and the previous reading of 212,000. This unexpected decline in jobless claims indicates a strengthening labor market, suggesting reduced layoffs and potentially increased hiring activity. According to the CME FedWatch Tool, the likelihood of the Federal Reserve's (Fed) interest rates remaining unchanged in the June meeting has risen to 85.2%, up from Wednesday’s 83.5%. Luci Ellis, the chief economist at Westpac and former Assistant Governor (Economic) at the Reserve Bank of Australia, notes that inflation slightly exceeded expectations in the March quarter. Westpac anticipates that the Board will keep interest rates unchanged in May and has adjusted their forecasted date for the first rate cut from September to November this year. In March, the Consumer Price Index (CPI) indicator in Australia rose to 3.5% YoY. While this figure exceeded expectations of 3.4%, it represented the highest level in four months. The uptick was primarily driven by faster increases in housing and transport prices. Excluding volatile items and travel, the monthly Australian CPI indicator climbed to 4.1% in March, up from a 3.9% gain in February. Despite this rise, inflation continues to remain outside the Reserve Bank of Australia's target range of 2-3%, indicating ongoing challenges in achieving the desired level of price stability. Technical Analysis: Australian Dollar holds position above 0.6500 The Australian Dollar trades around 0.6520 on Friday. The pair has breached into a symmetrical triangle pattern, with the 14-day Relative Strength Index (RSI) above the 50-level, supporting this bullish outlook.The AUD/USD pair could target the pullback resistance at the level of 0.6553. A breakthrough above the latter could lead the pair to approach the psychological level of 0.6600 and aim for the triangle's upper boundary near 0.6639. On the downside, immediate support is expected around the psychological level of 0.6500. A break below this level may lead to further downside momentum, with the next significant support region around 0.6443, following further support at April’s low of 0.6362. AUD/USD: Daily ChartAustralian Dollar price this week The table below shows the percentage change of the Australian Dollar (AUD) against listed major currencies this week. The Australian Dollar was the strongest against the Japanese Yen. USDEURGBPCADAUDJPYNZDCHFUSD -0.59% -0.99% -0.60% -1.47% 0.90% -0.93% 0.24%EUR0.59% -0.40% -0.01% -0.88% 1.48% -0.34% 0.83%GBP0.98% 0.40% 0.39% -0.49% 1.87% 0.05% 1.22%CAD0.60% 0.01% -0.38% -0.86% 1.49% -0.33% 0.84%AUD1.45% 0.88% 0.49% 0.88% 2.33% 0.53% 1.71%JPY-0.91% -1.49% -1.90% -1.51% -2.38% -1.84% -0.66%NZD0.91% 0.35% -0.06% 0.34% -0.54% 1.80% 1.18%CHF-0.24% -0.84% -1.24% -0.84% -1.73% 0.66% -1.18% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote). Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.

06:23 Japan BoJ Interest Rate Decision came in at 0%, below expectations (0.1%)
Japan BoJ Interest Rate Decision came in at 0%, below expectations (0.1%)

06:22 USD/INR halts its rally ahead of US PCE data
Indian Rupee (INR) extends the rally on Friday, bolstered by interbank US Dollar (USD) sales.

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Market players will keep an eye on the final reading of the US March Personal Consumption Expenditures Price Index (PCE), which might offer some hints about the inflation trajectory in the US and point to the Federal Reserve's (Fed) next move. Apart from this, India’s general election, which started on 19 April and will run until 1 June, will be closely watched. Daily Digest Market Movers: Indian Rupee remains firm amid global challengesThe Indian Rupee was the least volatile major currency among its emerging market peers and a few advanced economies in the financial year 2023–24, according to the Monthly Economic Review report of the Department of Economic Affairs under the Ministry of Finance. The report added that India’s foreign exchange reserves reached an all-time high in March 2024, sufficient to cover 11 months of projected imports and more than 100% of total external debt. The first estimate of US Gross Domestic Product (GDP) grew by 1.6% on an annualized basis in the first quarter (Q1) of 2024, compared to a 3.4% growth in Q4 2023, below the market consensus of 2.5%. The US Personal Consumption Expenditures Prices (PCE) rose at an annualized rate of 3.4% in Q1, nearly double the 1.8% pace recorded in Q4 2023. HSBC analysts expect the Fed to leave its policy rate unchanged in May and said that economic growth and core inflation data in the coming months will likely impact policy in June and beyond. Technical analysis: USD/INR maintains a constructive outlook in the longer termThe Indian Rupee trades stronger on the day. The positive outlook of USD/INR remains unchanged on the daily chart as the pair is above the key 100-day Exponential Moving Average (EMA). However, the 14-day Relative Strength Index (RSI) holds in bearish territory around 48.00, suggesting the potential decline cannot be ruled out.

The first downside target of USD/INR will emerge near the confluence of the 100-day EMA and a low of April 10 in the 83.10–83.15 region. A decisive break below this level will see a drop to a low of January 15 at 82.78, followed by a low of March 16 at 82.65. On the upside, the immediate resistance level is seen near a high of April 15 at 83.50. Further north, the next hurdle is located near an all-time high of 83.72, en route to the 84.00 psychological level.US Dollar price todayThe table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar. USDEURGBPCADAUDJPYNZDCHFUSD 0.04% 0.04% -0.03% -0.03% -0.04% -0.06% 0.02%EUR-0.02% -0.01% -0.05% -0.08% -0.06% -0.10% -0.01%GBP-0.04% 0.00% -0.05% -0.09% -0.08% -0.12% -0.01%CAD0.02% 0.05% 0.05% -0.04% 0.00% -0.07% 0.04%AUD0.03% 0.09% 0.09% 0.04% 0.04% -0.03% 0.08%JPY0.04% 0.07% 0.07% 0.02% 0.00% -0.03% 0.06%NZD0.06% 0.12% 0.12% 0.08% 0.03% 0.04% 0.11%CHF-0.01% 0.01% 0.01% -0.04% -0.07% -0.05% -0.09% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote). Indian Rupee FAQs What are the key factors driving the Indian Rupee? The Indian Rupee (INR) is one of the most sensitive currencies to external factors. The price of Crude Oil (the country is highly dependent on imported Oil), the value of the US Dollar – most trade is conducted in USD – and the level of foreign investment, are all influential. Direct intervention by the Reserve Bank of India (RBI) in FX markets to keep the exchange rate stable, as well as the level of interest rates set by the RBI, are further major influencing factors on the Rupee. How do the decisions of the Reserve Bank of India impact the Indian Rupee? The Reserve Bank of India (RBI) actively intervenes in forex markets to maintain a stable exchange rate, to help facilitate trade. In addition, the RBI tries to maintain the inflation rate at its 4% target by adjusting interest rates. Higher interest rates usually strengthen the Rupee. This is due to the role of the ‘carry trade’ in which investors borrow in countries with lower interest rates so as to place their money in countries’ offering relatively higher interest rates and profit from the difference. What macroeconomic factors influence the value of the Indian Rupee? Macroeconomic factors that influence the value of the Rupee include inflation, interest rates, the economic growth rate (GDP), the balance of trade, and inflows from foreign investment. A higher growth rate can lead to more overseas investment, pushing up demand for the Rupee. A less negative balance of trade will eventually lead to a stronger Rupee. Higher interest rates, especially real rates (interest rates less inflation) are also positive for the Rupee. A risk-on environment can lead to greater inflows of Foreign Direct and Indirect Investment (FDI and FII), which also benefit the Rupee. How does inflation impact the Indian Rupee? Higher inflation, particularly, if it is comparatively higher than India’s peers, is generally negative for the currency as it reflects devaluation through oversupply. Inflation also increases the cost of exports, leading to more Rupees being sold to purchase foreign imports, which is Rupee-negative. At the same time, higher inflation usually leads to the Reserve Bank of India (RBI) raising interest rates and this can be positive for the Rupee, due to increased demand from international investors. The opposite effect is true of lower inflation.

05:11 AUD/JPY hovers around five-month highs ahead of BoJ's policy decision
AUD/JPY extends its winning streak for the fifth consecutive session on Friday.

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The Australian Dollar (AUD) finds support from increasing bids for a hawkish stance for the Reserve Bank of Australia’s (RBA) monetary policy. The revision by TD Securities indicates a delay in the expected rate cut by the Reserve Bank of Australia (RBA) until February 2025 instead of November. This boosts the Australian Dollar (AUD) and consequently supports the AUD/JPY cross. Australia’s Consumer Price Index (CPI) data on Wednesday, surpassing expectations, is also playing a role in an increase in Australian government bond yields as traders price out expectations regarding interest rate cuts by the RBA in 2024. The Australian 10-year Government Bond Yield has reached a 21-week high of 4.59%, indicating a significant upward trend. The Japanese Yen (JPY) depreciated following the release of Japan's Tokyo Consumer Price Index (CPI), which came in well below expectations early Friday. This print marks the second time this year that inflation has fallen below the Bank of Japan's (BoJ) 2% target, reducing pressure on the central bank to raise interest rates again. As a result, market sentiment is shifting towards the expectation that the BoJ will abstain from implementing rate hikes during its meeting on Friday. Daily Digest Market Movers: AUD/JPY gains ground after weaker Tokyo’s CPI data Tokyo Consumer Price Index rose 1.8% YoY in April, well below the previous print of 2.6%. Markets were broadly expecting Tokyo inflation to hold steady over the period. The Core CPI fell sharply to 1.6% year-on-year, marking its lowest level since March 2022 and falling well below forecasts of 2.2%. SocGen's assessment of the potential for USD/JPY to test the Japanese Ministry of Finance's intervention limits due to persistent US rate expectations and recent market dynamics suggests a significant focus on the interplay between US economic data and currency movements. On Friday, a report from Reuters said that the Bank of Japan (BOJ) is expected to project that inflation will remain close to its 2% target in the coming years and signal its preparedness to raise interest rates from their near-zero levels. This stance by the BOJ is aimed at preventing yen depreciation and discouraging market participants from pushing the currency to fresh 34-year lows. Jiji news agency reported on Thursday that the Bank of Japan (BOJ) might reduce its bond purchases appears to be exerting a more significant influence on the market sentiment compared to the lower-than-expected Tokyo Consumer Price Index (CPI) data released today. According to Luci Ellis, Westpac's chief economist and former Assistant Governor (Economic) at the Reserve Bank of Australia, inflation slightly surpassed expectations in the March quarter. They anticipate the Board will maintain interest rates in May and have revised the projected date for the initial rate reduction from September to November this year. According to analysts at Barrenjoey Capital Partners, a leading Australian investment banking firm, advised to utilize the trimmed mean to rank Australia's inflation. Australia's six-month annualized rate of trimmed mean inflation, standing at 3.6%, is notably the highest worldwide, surpassing even the United States' 3.2% six-month annualized rate of trimmed mean inflation. Australia’s Consumer Price Index (CPI) rose by 1.0% QoQ in the first quarter of 2024, against the expected 0.8% and 0.6% prior. CPI (YoY) increased by 3.6% compared to the forecast of 3.4% for Q1 and 4.1% prior. Australia’s Monthly Consumer Price Index (YoY) rose by 3.5% in March, against the market expectations and the previous reading of 3.4%. According to the Japan Times, the proportion of Japanese companies intending to increase their pay scales reached 70.7%, marking a rise of 6.3 percentage points from the previous year. Additionally, the number of companies planning to implement pay-scale hikes and regular pay increases totaling 5% or more amounted to 36.5%, nearly doubling from the previous year. This could provide support for the Yen. Technical Analysis: AUD/JPY hovers around the major level of 101.50 The AUD/JPY trades around 101.50 on Friday, testing the upper boundary of the daily ascending channel, trading around a fresh five-month high of 101.66. Additionally, the 14-day Relative Strength Index (RSI) is trending above the 50-level, strengthening the bullish sentiment. The immediate resistance is seen at the psychological level of 102.00. On the downside, immediate support for the AUD/JPY pair could be found at the psychological level of 101.00. If the pair breaches below this level, it suggests a bearish sentiment may prevail and might lead the AUD/JPY cross to a further decline toward the psychological level of 100.00, followed by the 21-day Exponential Moving Average (EMA) at the level of 99.87. Further depreciation will likely test the lower boundary of the ascending channel around the level of 99.00. AUD/JPY: Daily ChartAustralian Dollar price today The table below shows the percentage change of the Australian Dollar (AUD) against listed major currencies today. The Australian Dollar was the strongest against the Swiss Franc. USDEURGBPCADAUDJPYNZDCHFUSD 0.00% 0.02% -0.04% -0.10% 0.01% -0.13% 0.05%EUR0.00% 0.01% -0.02% -0.10% 0.00% -0.13% 0.05%GBP-0.01% -0.02% -0.04% -0.12% 0.00% -0.17% 0.04%CAD0.03% 0.03% 0.03% -0.08% 0.03% -0.13% 0.06%AUD0.10% 0.10% 0.12% 0.08% 0.11% -0.05% 0.16%JPY-0.01% -0.01% -0.01% -0.04% -0.12% -0.15% 0.04%NZD0.13% 0.15% 0.16% 0.12% 0.04% 0.16% 0.21%CHF-0.06% -0.06% -0.03% -0.09% -0.15% -0.05% -0.19% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote). Australian Dollar FAQs What key factors drive the Australian Dollar? One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs. How does the price of Iron Ore impact the Australian Dollar? Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD. How does the Trade Balance impact the Australian Dollar? The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.

04:55 China’s Foreign Minister Wang: Relationship has stabilized with US but negative factors are building
Following his meeting with US Secretary of State Antony Blinken early Friday, China’s Foreign Minister Wang Yi said that the Sino-US “relationship has stabilized but negative factors are building.” Additional comments Sliding into conflict with the US would be a lose-lose situation.

04:48 WTI rebounds above $83.50 as market weighs disappointing US GDP data against geopolitical fears
Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $83.60 on Friday.

WTI recovers to $83.60 in Friday’s early Asian session.The expectation that the Fed might delay rate cuts weighs on the black gold. The concern over oil supply disruptions amid renewed geopolitical tensions lifts the black gold.Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $83.60 on Friday. The black gold edges higher as the market weighed the weaker-than-expected US economic growth data against a potential geopolitical risk from a looming Israeli invasion of the southern Gaza city of Rafah.

WTI prices face some sell-off following the GDP report from the Commerce Department on Thursday. The US economy expanded at its slowest pace in nearly two years in the first quarter (Q1) of 2024 as inflation rose at a faster pace. The advanced US GDP grew by 1.6% on an annualized basis in the first quarter (Q1) in 2024, compared to a 3.4% growth in Q4 2023. This reading came in below the market estimation of 2.5%. Additionally, the inflation in the United States remains elevated and it might trigger the speculation that the Federal Reserve will not cut interest rates before September.

However, WTI prices recover and hold positive ground after Treasury Secretary Janet Yellen said that US economic growth was likely stronger than suggested by weaker-than-expected quarterly data.

Apart from this, the concern over oil supply disruption amid the escalating geopolitical tensions boosts the black gold. Israel launched airstrikes on Rafah as the country made preparations to invade the city, per Reuters.

The worries about the largest drawdown in US commercial crude stockpiles since mid-January also lift the WTI prices. The Energy Information Administration (EIA) reported that crude inventories for the week ending April 19 fell by 6.368 million barrels from the previous reading of 2.735 million barrels built. WTI US OIL Overview Today last price 83.59 Today Daily Change 0.03 Today Daily Change % 0.04 Today daily open 83.56 Trends Daily SMA20 84.16 Daily SMA50 81.13 Daily SMA100 77.34 Daily SMA200 79.75 Levels Previous Daily High 83.58 Previous Daily Low 81.79 Previous Weekly High 85.67 Previous Weekly Low 81.05 Previous Monthly High 83.05 Previous Monthly Low 76.5 Daily Fibonacci 38.2% 82.9 Daily Fibonacci 61.8% 82.48 Daily Pivot Point S1 82.37 Daily Pivot Point S2 81.18 Daily Pivot Point S3 80.58 Daily Pivot Point R1 84.17 Daily Pivot Point R2 84.77 Daily Pivot Point R3 85.96

04:47 Japanese Yen hangs near multi-decade low against USD ahead of BoJ policy decision
The Japanese Yen (JPY) languishes near a multi-decade low against its American counterpart during the Asian session on Friday as traders keenly await the outcome of the highly-anticipated Bank of Japan (BoJ) policy meeting.

04:31 Australia Export Price Index (QoQ) dipped from previous 5.6% to -2.1% in 1Q
Australia Export Price Index (QoQ) dipped from previous 5.6% to -2.1% in 1Q

04:31 Australia Import Price Index (QoQ) below forecasts (0.1%) in 1Q: Actual (-1.8%)
Australia Import Price Index (QoQ) below forecasts (0.1%) in 1Q: Actual (-1.8%)

04:30 Australia Producer Price Index (QoQ) remains unchanged at 0.9% in 1Q
Australia Producer Price Index (QoQ) remains unchanged at 0.9% in 1Q

04:30 Australia Producer Price Index (YoY) increased to 4.3% in 1Q from previous 4.1%
Australia Producer Price Index (YoY) increased to 4.3% in 1Q from previous 4.1%

04:19 PBoC sets USD/CNY reference rate at 7.1056 vs 7.1058 previous
On Friday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1056 as compared to the previous day's fix of 7.1058 and 7.2396 Reuters estimates.

On Friday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1056 as compared to the previous day's fix of 7.1058 and 7.2396 Reuters estimates.

03:47 Japan 5-year yields climb to the highest since April 2011 ahead of BoJ rate decision
Japan’s five-year bond yield rose to the highest level since April 2011 ahead of the Bank of Japan (BoJ) interest rate decision on Friday, per A Jiji.

03:31 GBP/USD trades on a softer note below 1.2530 ahead of US PCE data
The GBP/USD pair trades on a weaker note around 1.2502 during the early Asian trading hours on Friday.

GBP/USD snaps the three-day winning streak near 1.2502 in Friday’s early Asian session. The US economy grew at a slower pace of 1.6% in Q1 2024, compared to 3.4% in the previous reading. The expectation that the BoE will cut rates before the US Fed might exert some selling pressure on the GBP. The GBP/USD pair trades on a weaker note around 1.2502 during the early Asian trading hours on Friday. The modest rebound of the US Dollar (USD) weighs on the major pair despite weaker US GDP growth numbers. The US Personal Consumption Expenditures (PCE) Price Index data on Friday will be in the spotlight.

On Thursday, the US economy grew at a slower pace of 1.6% in the first quarter (Q1) of 2024, compared to 3.4% in the previous reading. This figure came in weaker than the market expectation of 2.5%. However, prices have remained sticky, with the data on Thursday revealing the Personal Consumption Expenditures Price Index in Q1 climbing at a 3.4% annual rate, above the Fed's 2% target. The Greenback has dropped to two-week lows near mid-105.00 after the release of weaker-than-expected Q1 GDP growth and a hotter-than-expected inflation reading.

According to the CME FedWatch tool, financial markets have priced in less than 10% odds that the US Federal Reserve (Fed) will cut interest rates in June, while the probability of a September rate cut dropping below 58%. Investors will take more cues from another inflation report on Friday. The US PCE is expected to show an increase of 0.3% MoM in both headline and core PCE figures. On an annual basis, the headline PCE and Core PCE figures are estimated to show a rise of 2.6% and 2.7% YoY, respectively.

On the GBP’s front, the Bank of England (BoE) Governor Andrew Bailey and other BoE policymakers stated that inflation in the United Kingdom dropped in line with the central bank's expectations and the risk of elevated inflation had reduced, paving the way for a rate cut. The market anticipates that the UK central bank will wait until next quarter to lower borrowing costs, and it will begin before the US Fed. This, in turn, might cap the upside of the Pound Sterling (GBP). GBP/USD Overview Today last price 1.2505 Today Daily Change -0.0009 Today Daily Change % -0.07 Today daily open 1.2514 Trends Daily SMA20 1.2524 Daily SMA50 1.2626 Daily SMA100 1.2651 Daily SMA200 1.2559 Levels Previous Daily High 1.2527 Previous Daily Low 1.2454 Previous Weekly High 1.2499 Previous Weekly Low 1.2367 Previous Monthly High 1.2894 Previous Monthly Low 1.2575 Daily Fibonacci 38.2% 1.2499 Daily Fibonacci 61.8% 1.2482 Daily Pivot Point S1 1.247 Daily Pivot Point S2 1.2426 Daily Pivot Point S3 1.2397 Daily Pivot Point R1 1.2542 Daily Pivot Point R2 1.2571 Daily Pivot Point R3 1.2614

03:07 Japan’s Suzuki prepares to take full steps on FX
Japanese Finance Minister Shunichi Suzuki said on Friday that he is closely monitoring foreign exchange (FX) fluctuations.

02:44 USD/JPY holds near 155.50 after Tokyo CPI inflation eases more than expected
Japan’s Tokyo Consumer Price Inflation (CPI) inflation printed well below expectations early Friday, which will complicate the Bank of Japan’s (BoJ) upcoming rate call and Monetary Policy Report, due during the Pacific market session.

Japan’s Tokyo CPI inflation fell below forecasts early Friday.US data confounded rate-hungry investors on Thursday.Markets await BoJ rate call, US PCE Price Index figures.Japan’s Tokyo Consumer Price Inflation (CPI) inflation printed well below expectations early Friday, which will complicate the Bank of Japan’s (BoJ) upcoming rate call and Monetary Policy Report, due during the Pacific market session. Tokyo CPI inflation rose only 1.8% on an annualized basis in April, well below the previous print of 2.6%. Markets were broadly expecting Tokyo inflation to hold steady over the period.Read more: Tokyo Consumer Price Index rises 1.8% YoY in April vs. 2.6% expectedUS Gross Domestic Product (GDP) also eased faster than expected, prompting discouragement in risk appetite on Thursday. Further complicating matters, US Personal Consumption Expenditure (PCE) inflation remained stubbornly higher in the first quarter than investors hoping for Federal Reserve (Fed) rate cuts were hoping for. US PCE Price Index inflation will deliver a fine-tuned look at US inflation later Friday. US MoM Core PCE Price Index numbers for March are forecast to hold steady at 0.3%. With the Japanese Yen (JPY) trading into multi-year lows across the board, the BoJ is expected to begin weighing market interventions. According to reporting by Nikkei, the Japanese central bank is expected to discuss intervention options to help bolster the battered Yen. USD/JPY technical outlook USD/JPY is trading tightly just below the 156.00 handle, hugging multi-year highs as the Yen continues to deflate. The pair is trading into 30-plus year highs, and bullish momentum is targeting all-time record bids beyond 160.00, a price level the pair hasn’t reached since 1990. The USD/JPY pair is on pace to close bullish for a fourth consecutive month, and is up 10.4% in 2024. USD/JPY hourly chart USD/JPY daily chart

02:36 Japan Inflation: Tokyo Consumer Price Index rises 1.8% YoY in April vs. 2.6% expected
The headline Tokyo Consumer Price Index (CPI) for April rose 1.8% YoY, compared to a 2.6% rise in the previous reading, the Statistics Bureau of Japan showed on Friday.

02:32 Japan Tokyo CPI ex Fresh Food (YoY) came in at 1.6%, below expectations (2.2%) in April
Japan Tokyo CPI ex Fresh Food (YoY) came in at 1.6%, below expectations (2.2%) in April

02:31 Japan Tokyo CPI ex Food, Energy (YoY) below expectations (2.7%) in April: Actual (1.8%)
Japan Tokyo CPI ex Food, Energy (YoY) below expectations (2.7%) in April: Actual (1.8%)

02:30 Japan Tokyo Consumer Price Index (YoY) registered at 1.8%, below expectations (2.6%) in April
Japan Tokyo Consumer Price Index (YoY) registered at 1.8%, below expectations (2.6%) in April

02:10 USD/CAD extends its downside below 1.3670, investors await US PCE data
The USD/CAD pair extends its downside near 1.3655 on Friday during the early Asian session.

USD/CAD remains on the defensive around 1.3655 on Friday amid the weaker USD. US GDP number expanded by 1.6% on an annualized basis in Q1 2024, compared to 3.4% growth in Q4 2023.The weaker Canadian Retail Sales data triggered speculation that the BoC might start cutting interest rates in June. The USD/CAD pair extends its downside near 1.3655 on Friday during the early Asian session. The decline of the US Dollar (USD) to the two-week lows around the mid-105.00s exerts some selling pressure on the pair. Investors now shift their focus to the release of US Personal Consumption Expenditures (PCE) Price Index data, due later on Friday.

The US economy grew at its slowest pace in nearly two years in the first quarter (Q1) of 2024 as prices rose at a faster pace, the Commerce Department revealed on Thursday. The first estimate of US Gross Domestic Product (GDP) grew by 1.6% on an annualized basis in the January-March period, compared to a 3.4% growth in Q4 2023. This reading came in below the market consensus of 2.5%. Additionally, US Personal Consumption Expenditures Prices rose at an annualized rate of 3.4% in Q1, nearly double the 1.8% pace recorded in Q4 2023.

The weaker-than-expected GDP growth and hotter-than-expected inflation weigh on the Greenback and create a headwind for USD/CAD. The markets expect the US Federal Reserve (Fed) to begin the first rate cuts in September, with traders now pointing to just one rate cut in 2024 following the GDP data, according to the CME FedWatch tool.

On the Loonie front, the weaker Canadian Retail Sales data on Wednesday triggered speculation that the Bank of Canada (BoC) might start cutting interest rates at its next meeting in June, which might drag the Canadian Dollar (CAD) lower. Nonetheless, the rebound of crude oil prices provides some support to the CAD, as Canada is the largest crude oil exporter to the United States (US). USD/CAD Overview Today last price 1.3657 Today Daily Change -0.0046 Today Daily Change % -0.34 Today daily open 1.3703 Trends Daily SMA20 1.3657 Daily SMA50 1.3579 Daily SMA100 1.3498 Daily SMA200 1.3537 Levels Previous Daily High 1.3729 Previous Daily Low 1.3655 Previous Weekly High 1.3846 Previous Weekly Low 1.3724 Previous Monthly High 1.3614 Previous Monthly Low 1.342 Daily Fibonacci 38.2% 1.3701 Daily Fibonacci 61.8% 1.3683 Daily Pivot Point S1 1.3662 Daily Pivot Point S2 1.3622 Daily Pivot Point S3 1.3588 Daily Pivot Point R1 1.3737 Daily Pivot Point R2 1.377 Daily Pivot Point R3 1.3811

02:01 United Kingdom GfK Consumer Confidence above expectations (-20) in April: Actual (-19)
United Kingdom GfK Consumer Confidence above expectations (-20) in April: Actual (-19)

02:01 Ireland Consumer Confidence down to 67.8 in April from previous 69.5
Ireland Consumer Confidence down to 67.8 in April from previous 69.5

02:00 Bank of Japan expected to keep interest rates on hold after landmark hike
The Bank of Japan (BoJ) is set to leave its short-term rate target unchanged in the range between 0% and 0.1% on Friday, following the conclusion of its two-day monetary policy review meeting for April.

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50px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{content:"";position:absolute;top:50%;right:16px;width:8px;height:2px;background-color:#49494f;transition:all .2s ease-in-out;transition-delay:0}.fxs-faq-module-header label:after{transform:rotate(45deg) translateX(-4px)}.fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(4px)}.fxs-faq-module-header label:after,.fxs-faq-module-header label:before{transition:transform .3s ease-in-out}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:after{transform:rotate(45deg) translateX(4px)}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-header label:before{transform:rotate(-45deg) translateX(-4px)}.fxs-faq-module-content{max-height:0;overflow:hidden;transition:all .3s ease-in-out;color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:0}input[type=checkbox]:checked+.fxs-faq-module-section .fxs-faq-module-content{max-height:1000px;margin-top:8px}@media (min-width:680px){.fxs-faq-module-title{font-size:19.2px;line-height:27.2px}.fxs-faq-module-header{font-size:19.2px;line-height:25.92px}.fxs-faq-module-content{font-size:16px;line-height:21.6px}}The Bank of Japan is set to hold interest rates after its first hike since 2007 in March.The focus will be on BoJ’s updated forecasts and Governor Kazuo Ueda’s press conference.The volatility around the Japanese Yen could spike on the BoJ policy announcements.The Bank of Japan (BoJ) is set to leave its short-term rate target unchanged in the range between 0% and 0.1% on Friday, following the conclusion of its two-day monetary policy review meeting for April. The BoJ will announce its decision on Friday at around 3:00 GMT. The BoJ hiked the interest rate for the first time in 17 years in March, lifting Japan out of the negative interest rate policy (NIRP) for the first time since 2016. What to expect from the BoJ interest rate decision? With a steady policy widely expected, the markets’ attention will remain on the BoJ’s quarterly inflation and growth forecasts and the probable changes in the policy statement for fresh hints on the timing of the Bank’s next rate increase. Markets are expecting the BoJ to hike rates again this year, with odds split between the chance of a lift-off in July, or sometime in the October-December quarter, according to Reuters. Kyodo News Agency reported on Friday, citing sources familiar with the BoJ thinking, that the Japanese central bank is mulling an upward revision to its inflation outlook for fiscal year 2024 from the current 2.4%. The bank is also seen raising its forecast for fiscal year 2025 from 1.8% to around 2.0% while forecasting Japan's core inflation to be around 2% in fiscal 2026, the sources added. These expectations hold even as Japan’s core Consumer Price Index (CPI) – a measure excluding fresh food and energy costs closely watched by the BoJ – moderated to 2.9% in March after increasing 3.2% in February. It was the first time since November 2022 that core inflation fell below 3%. Easing price pressures in Japan fail to deter the BoJ’s path forward on interest rates, as the recent depreciation of the Japanese Yen (JPY) is likely to significantly push up inflation. Further, the BoJ focus remains on the potential increases in the services inflation and wages to determine the appropriate time for the next rate hike. Japanese firms offered their biggest wage hikes in 33 years this year but the inflation-adjusted real wages have continued to decline for nearly two years. When asked about the possibility of further rate hikes this year, in an interview with the Asahi newspaper earlier this month, BoJ Governor Kazuo Ueda said that "it's dependent on data.” "We'll adjust interest rates according to the distance towards sustainably and stably hitting 2% inflation”, Ueda added. On Tuesday, Governor Ueda said that the BoJ will raise rates again if trend inflation accelerates toward its 2% target as expected. Japan's Weighted Median Inflation Index, a key measure of the country’s trend inflation, rose at its slowest pace in 11 months to 1.3% in March, the latest data published by the Bank of Japan (BoJ) showed on Tuesday. Governor Ueda’s remarks imply that the central bank is shifting to a more discretionary approach in setting policy. The BoJ could remain on track to deliver another rate hike this year as it gathers more confidence that Japan will sustainably achieve its 2% price target. Therefore, the country’s trend inflation, wage growth and consumption data will hold more importance than the central bank’s quarterly inflation projections in determining the Bank’s future interest rate decisions. Analysts at BBH preview the BoJ policy announcements, noting that “we are sticking to our view that the BoJ tightening cycle will remain very modest. The market agrees and is pricing in only 20 bp of tightening in 2024 and 50 bp over the next two years. Such a modest cycle would likely keep upward pressure on USD/JPY.” “Updated macro forecasts will be released. Reports emerged suggesting the BoJ may raise its inflation forecast for FY2024 from 2.4% currently at this meeting. However, March CPI data last week came in lower than expected and suggests falling price pressures, so the revision is likely to be minor,” the analysts explained. How could the Bank of Japan interest rate decision affect USD/JPY? If the BoJ policy statement delivers a hawkish tone, indicating that the next rate hike could be as early as July, the Japanese Yen is likely to see a fresh upswing against the US Dollar (USD). The USD/JPY pair would then initiate a corrective downtrend toward the 150.00 level. On the other hand, if the central bank suggests that they would cautiously monitor the likelihood of achieving 2% trend inflation to gauge the next rate increase, it could be read as dovish. In such a case, the Japanese Yen could crash to a new 34-year low against the US Dollar. It’s worth noting that the Japanese Yen tends to weaken on BoJ decision days. It has done so for eight straight and nine of the past ten meetings, per BBH Analysts. From a technical perspective, Dhwani, Senior Analyst at FXStreet, notes: “Amid extremely overbought Relative Strength Index (RSI) conditions on the daily chart, a USD/JPY correction seems long overdue. Should a hawkish BoJ guidance spark a Japanese Yen rally, the pair will pull back sharply toward the 21-day Simple Moving Average (SMA) at 153.19. Ahead of that level, the April 23 low of 154.55 could challenge bearish commitments. If the corrective decline gains traction, USD/JPY could accelerate toward the 50-day SMA at 151.28.” “On the flip side, the relentless vertical rise could extend toward 156.50, with buyers aiming for the 160.00 level predicted by a senior Liberal Democratic Party official to be a probable intervention point for the Japanese authorities,” Dhwani adds. Economic Indicator BoJ Interest Rate Decision The Bank of Japan (BoJ) announces its interest rate decision after each of the Bank’s eight scheduled annual meetings. Generally, if the BoJ is hawkish about the inflationary outlook of the economy and raises interest rates it is bullish for the Japanese Yen (JPY). Likewise, if the BoJ has a dovish view on the Japanese economy and keeps interest rates unchanged, or cuts them, it is usually bearish for JPY. Read more. Next release: Fri Apr 26, 2024 03:00 Frequency: IrregularConsensus: 0.1%Previous: 0%Source: Bank of Japan Bank of Japan FAQs What is the Bank of Japan? The Bank of Japan (BoJ) is the Japanese central bank, which sets monetary policy in the country. Its mandate is to issue banknotes and carry out currency and monetary control to ensure price stability, which means an inflation target of around 2%. What has been the Bank of Japan’s policy? The Bank of Japan has embarked in an ultra-loose monetary policy since 2013 in order to stimulate the economy and fuel inflation amid a low-inflationary environment. The bank’s policy is based on Quantitative and Qualitative Easing (QQE), or printing notes to buy assets such as government or corporate bonds to provide liquidity. In 2016, the bank doubled down on its strategy and further loosened policy by first introducing negative interest rates and then directly controlling the yield of its 10-year government bonds. How do Bank of Japan’s decisions influence the Japanese Yen? The Bank’s massive stimulus has caused the Yen to depreciate against its main currency peers. This process has exacerbated more recently due to an increasing policy divergence between the Bank of Japan and other main central banks, which have opted to increase interest rates sharply to fight decades-high levels of inflation. The BoJ’s policy of holding down rates has led to a widening differential with other currencies, dragging down the value of the Yen. Is the Bank of Japan’s ultra-loose policy likely to change soon? A weaker Yen and the spike in global energy prices have led to an increase in Japanese inflation, which has exceeded the BoJ’s 2% target. Still, the Bank judges that the sustainable and stable achievement of the 2% target has not yet come in sight, so any sudden change in the current policy looks unlikely.

01:46 EUR/USD mired near 1.0730 after choppy Thursday market session
EUR/USD whipsawed somewhat on Thursday, and the pair is heading into Friday's early session near 1.0730 after a back-and-forth session and complicated US data that vexed rate cut hopes.

EUR/USD whipped on Thursday after mixed US data plagued markets.US GDP slowed faster than expected, but PCE inflation measures warn of still-high prices.US PCE Price Index figures due during Friday's US market session.EUR/USD whipsawed somewhat on Thursday, and the pair is heading into Friday's early session near 1.0730 after a back-and-forth session and complicated US data that vexed rate cut hopes. US Gross Domestic Product (GDP) eased more than expected on Thursday, with annualized Q1 growth slowing to 1.6% compared to the previous 3.4%, and well below the forecast 2.5%. Easing growth is a boon for investors hoping for an accelerated pace of rate cuts from the Federal Reserve (Fed), but too much too fast could send negative knock-on effects throughout the US economy. Hopes for rate cuts were further eroded after US Personal Consumption Expenditure (PCE) inflation accelerated again in the first quarter, with Q1 PCE rising 3.4% compared to the previous quarter’s 1.7%. Still-high inflation is reducing market hopes for rate cuts, sending risk appetite into a tailspin during the US trading session before markets staged a determined but limited recovery. Friday brings mostly low-tier European data, and markets will be turning to face US PCE Price Index figures for March as investors look for a more fine-tuned look at the US’ inflation outlook. Core MoM PCE Price Index figures in March are expected to hold steady at 0.3%, with the annualized figure forecast to tick down slightly to 2.6% from 2.8%. EUR/USD technical outlook EUR/USD churns just north of the 200-hour Exponential Moving Average (EMA) at 1.0690, but Euro bidders are scrambling to keep the pair propped up beyond the 1.0700 handle. A near-term supply zone is priced in between 1.0880 and 1.0860, keeping interim bullish expectations pinned to the low side. A recent drop below the 200-day EMA at 1.0795 threatens to crimp bullish sentiment despite a technical floor priced in near 1.0600. EUR/USD hourly chart EUR/USD daily chart

01:12 AUD/USD stand firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday.

01:06 New Zealand's ANZ Consumer Confidence slides to 82.1 in April
ANZ's New Zealand Roy Morgan Consumer Confidence slipped another 4 points to 82.1 in April, declining to the indicator's lowest levels since 2008.

ANZ's New Zealand Roy Morgan Consumer Confidence slipped another 4 points to 82.1 in April, declining to the indicator's lowest levels since 2008. Despite the decline, New Zealand consumer confidence remains higher than it did at the height of the pandemic. Consumer inflation expectations eased to 4.4% from 4.5%, though housing price inflation expectations increased to 3.5% from 3.4%. Market reaction NZD/USD continues to trade in a tight but rough range as markets gear up for the early Friday session, stuck near the 0.5950 level. About the ANZ Roy Morgan Consumer Confidence The Consumer Confidence released by the ANZ is a leading index that measures the level of consumer confidence in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. A high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative (or bearish).

01:05 New Zealand ANZ – Roy Morgan Consumer Confidence declined to 82.1 in April from previous 86.4
New Zealand ANZ – Roy Morgan Consumer Confidence declined to 82.1 in April from previous 86.4

00:52 NZD/USD Price Analysis: Bears back off, potential trend reversal on cards tied to 20-day SMA recovery
The NZD/USD pair stands at 0.5949, registering daily gains on Thursday’s session.

The daily chart reveals a bearish bias for the NZD/USD pair underlined by its positioning below major SMAs.For bullish traction to take place, buyers must reclaim control over the 20-day SMA SMAs.Indicators on the daily chart recovered.The NZD/USD pair stands at 0.5949, registering daily gains on Thursday’s session. The prevailing outlook, as presented on the daily chart, shows a strong bearish control as the Kiwi continues to trade below the significant Simple Moving Averages (SMAs). Minor upticks visible in the short term do not suggest a meaningful trend reversal. For a bullish revival, bears must cede control to the buyers who would then need to gain the upper hand over the key 20-day SMA to start talking. On the daily chart, The Relative Strength Index (RSI) for the NZD/USD pair continues within a negative trend territory. However, some signals of possible market correction exist as the RSI values hint at upward momentum. Simultaneously, the Moving Average Convergence Divergence (MACD) shows rising green bars, indicating buyers are gradually edging in against the sellers, lending positive momentum to the market. NZD/USD daily chart Moving on to the hourly chart, the RSI also persists in a negative trend, but the latest hour displays an upswing, carrying the indicator above the 50 mark which, paired with decreasing red bars on the MACD histogram, might suggest a short-term trend reversal or correction. NZD/USD hourly chart Assessing the overall landscape, the NZD/USD is in a definitive downtrend, underpinned by its position below the 20, 100, and 200-day Simple Moving Averages (SMAs). This situation suggests a prolonged bearish momentum as both short-term and long-term traders are selling the pair. Thursday's price movement raises another red flag as an attempted recovery by buyers has been rejected at the 20-day SMA at the 0.5960 level, suggesting a lack of bullish conviction and the potential for further downside. With these considerations, the outlook remains tilted in favor of sellers. NZD/USD Overview Today last price 0.595 Today Daily Change 0.0015 Today Daily Change % 0.25 Today daily open 0.5935 Trends Daily SMA20 0.5961 Daily SMA50 0.6052 Daily SMA100 0.6117 Daily SMA200 0.605 Levels Previous Daily High 0.5958 Previous Daily Low 0.592 Previous Weekly High 0.5954 Previous Weekly Low 0.5851 Previous Monthly High 0.6218 Previous Monthly Low 0.5956 Daily Fibonacci 38.2% 0.5944 Daily Fibonacci 61.8% 0.5935 Daily Pivot Point S1 0.5917 Daily Pivot Point S2 0.5899 Daily Pivot Point S3 0.5879 Daily Pivot Point R1 0.5956 Daily Pivot Point R2 0.5976 Daily Pivot Point R3 0.5994

00:28 EUR/USD Price Analysis: Bulls are not out of the woods, despite reclaiming 1.0700
On Thursday, the Euro rose against the US Dollar after US economic data portrayed the economy as weaker than expected.

EUR/USD rises due to US GDP shortfall and elevated inflation data.Technical resistance near 50 and 200-day MAs at 1.0805/07; 100-DMA at 1.0848 next hurdle.Downside below 1.0694 could retest year's low at 1.0601, possibly extending to 1.0516.On Thursday, the Euro rose against the US Dollar after US economic data portrayed the economy as weaker than expected. At the same time, the inflation figure prompted investors to price out the Federal Reserve's rate cuts in 2024. At the time of writing, the EUR/USD trades at 1.0729, up by 0.29%. EUR/USD Price Analysis: Technical outlook From a technical standpoint, the EUR/USD remains bearishly biased, but in the short term, it could test the confluence of the 50 and 200-day moving averages (DMAs) at 1.0805/07. If buyers clear that stir resistance, buyers must crack the 100-DMA at 1.0848. Subsequent gains are seen above that level, with the 1.0900 mark up next. On the flip side, if EUR/USD sellers drag the spot price below the February 14 low of 1.0694, that would pave the way toward the year-to-date (YTD) low of 1.0601, followed by the November 1, 2023, intermediate support at 1.0516. EUR/USD Price Action – Daily ChartEUR/USD Overview Today last price 1.0729 Today Daily Change 0.0030 Today Daily Change % 0.28 Today daily open 1.0699 Trends Daily SMA20 1.0735 Daily SMA50 1.0808 Daily SMA100 1.0849 Daily SMA200 1.081 Levels Previous Daily High 1.0714 Previous Daily Low 1.0678 Previous Weekly High 1.069 Previous Weekly Low 1.0601 Previous Monthly High 1.0981 Previous Monthly Low 1.0768 Daily Fibonacci 38.2% 1.0692 Daily Fibonacci 61.8% 1.07 Daily Pivot Point S1 1.068 Daily Pivot Point S2 1.0661 Daily Pivot Point S3 1.0643 Daily Pivot Point R1 1.0716 Daily Pivot Point R2 1.0733 Daily Pivot Point R3 1.0752

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12:27 Silver price today: Silver rises, according to FXStreet data Silver prices (XAG/USD) rose on Friday, according to FXStreet data.

12:10 India Gold price today: Gold gains, according to MCX data Gold prices rose in India on Friday, according to data from India's Multi Commodity Exchange (MCX).

12:05 GBP/JPY extends winning spell to 196.00 after BoJ keeps interest rates unchanged The GBP/JPY pair extends its winning streak for the fourth trading session on Friday and rises to a historic high of 196.00.

11:55 WTI edges lower to near $83.50 amid a weaker demand outlook following US GDP West Texas Intermediate (WTI) crude Oil price trades near $83.40 per barrel, showing a slight decrease of 0.10% during the European hours on Friday.

11:54 SNB’s Jordan: SNB will monitor inflation closely and adjust policy again when necessary Swiss National Bank (SNB) Chairman Thomas J. Jordan speaks at the SNB’s General Meeting of Shareholders.

11:33 EUR/USD continues slogging higher prior to March US core PCE EUR/USD trades in the 1.0740s on Friday, ahead of key data out of the US in the form of the March core Personal Consumption Expenditures Price Index (PCE), the US Federal Reserve’s (Fed) preferred gauge of inflation.

11:32 Pound sterling holds gains ahead of US core PCE Inflation The Pound Sterling (GBP) clings to gains near 1.2500 against US Dollar (USD) in Friday’s London session.

11:01 Eurozone M3 Money Supply (3m) increased to 0.4% in March from previous 0.2% Eurozone M3 Money Supply (3m) increased to 0.4% in March from previous 0.2%

11:01 Eurozone Private Loans (YoY) came in at 0.2%, below expectations (0.3%) in March Eurozone Private Loans (YoY) came in at 0.2%, below expectations (0.3%) in March

11:00 Eurozone M3 Money Supply (YoY) above forecasts (0.5%) in March: Actual (0.9%) Eurozone M3 Money Supply (YoY) above forecasts (0.5%) in March: Actual (0.9%)

11:00 Austria Purchasing Manager Index increased to 43.5 in April from previous 42.2 Austria Purchasing Manager Index increased to 43.5 in April from previous 42.2

10:00 Spain Retail Sales (YoY) fell from previous 1.9% to 0.6% in March Spain Retail Sales (YoY) fell from previous 1.9% to 0.6% in March

10:00 Spain Unemployment Survey above expectations (11.7%) in 1Q: Actual (12.29%) Spain Unemployment Survey above expectations (11.7%) in 1Q: Actual (12.29%)

09:46 USD/CHF gains ground above 0.9100, US PCE data looms The USD/CHF pair trades on a stronger note around 0.9130 during the early European session on Friday.

09:45 France Consumer Confidence came in at 90, below expectations (92) in April France Consumer Confidence came in at 90, below expectations (92) in April

09:22 USD/CAD depreciates to near 1.3650 due to higher crude prices, US PCE eyed USD/CAD extends its losses for the second consecutive day, trading around 1.3640 during the Asian session on Friday.

09:00 Sweden Trade Balance (MoM) down to 4.8B in March from previous 9.3B Sweden Trade Balance (MoM) down to 4.8B in March from previous 9.3B

08:20 NZD/USD remains firmer around 0.5950 due to improved risk appetite The NZD/USD pair showed positive movement, trading around 0.5960 during the Asian session on Friday.

08:16 EUR/USD trades with negative bias, holds above 1.0700 as traders await US PCE Price Index The EUR/USD pair edges lower during the Asian session on Friday and moves away from a two-week high, around the 1.0740 area touched the previous day.

08:00 Singapore Industrial Production (MoM) below forecasts (-8.8%) in March: Actual (-16%) Singapore Industrial Production (MoM) below forecasts (-8.8%) in March: Actual (-16%)

08:00 Singapore Industrial Production (YoY) below expectations (-1.5%) in March: Actual (-9.2%) Singapore Industrial Production (YoY) below expectations (-1.5%) in March: Actual (-9.2%)

07:12 EUR/JPY extends rally above 167.50 following BoJ rate decision The EUR/JPY cross drifts higher to 167.20, its highest level since 2008, during the Asian trading hours on Friday.

07:08 Gold price flatlines as traders look to US PCE Price Index for some meaningful impetus Gold price (XAU/USD) struggles to capitalize on the previous day's modest gains and oscillates in a narrow range during the Asian session on Friday amid mixed fundamental cues.

06:53 Australian Dollar pares gains amid improved US Dollar, awaits US PCE The Australian Dollar (AUD) continues its upward trend for the fifth consecutive session on Friday.

06:23 Japan BoJ Interest Rate Decision came in at 0%, below expectations (0.1%) Japan BoJ Interest Rate Decision came in at 0%, below expectations (0.1%)

06:22 USD/INR halts its rally ahead of US PCE data Indian Rupee (INR) extends the rally on Friday, bolstered by interbank US Dollar (USD) sales.

05:11 AUD/JPY hovers around five-month highs ahead of BoJ's policy decision AUD/JPY extends its winning streak for the fifth consecutive session on Friday.

04:48 WTI rebounds above $83.50 as market weighs disappointing US GDP data against geopolitical fears Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $83.60 on Friday.

04:31 Australia Export Price Index (QoQ) dipped from previous 5.6% to -2.1% in 1Q Australia Export Price Index (QoQ) dipped from previous 5.6% to -2.1% in 1Q

04:31 Australia Import Price Index (QoQ) below forecasts (0.1%) in 1Q: Actual (-1.8%) Australia Import Price Index (QoQ) below forecasts (0.1%) in 1Q: Actual (-1.8%)

04:30 Australia Producer Price Index (QoQ) remains unchanged at 0.9% in 1Q Australia Producer Price Index (QoQ) remains unchanged at 0.9% in 1Q

04:30 Australia Producer Price Index (YoY) increased to 4.3% in 1Q from previous 4.1% Australia Producer Price Index (YoY) increased to 4.3% in 1Q from previous 4.1%

04:19 PBoC sets USD/CNY reference rate at 7.1056 vs 7.1058 previous On Friday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1056 as compared to the previous day's fix of 7.1058 and 7.2396 Reuters estimates.

03:47 Japan 5-year yields climb to the highest since April 2011 ahead of BoJ rate decision Japan’s five-year bond yield rose to the highest level since April 2011 ahead of the Bank of Japan (BoJ) interest rate decision on Friday, per A Jiji.

03:31 GBP/USD trades on a softer note below 1.2530 ahead of US PCE data The GBP/USD pair trades on a weaker note around 1.2502 during the early Asian trading hours on Friday.

03:07 Japan’s Suzuki prepares to take full steps on FX Japanese Finance Minister Shunichi Suzuki said on Friday that he is closely monitoring foreign exchange (FX) fluctuations.

02:36 Japan Inflation: Tokyo Consumer Price Index rises 1.8% YoY in April vs. 2.6% expected The headline Tokyo Consumer Price Index (CPI) for April rose 1.8% YoY, compared to a 2.6% rise in the previous reading, the Statistics Bureau of Japan showed on Friday.

02:32 Japan Tokyo CPI ex Fresh Food (YoY) came in at 1.6%, below expectations (2.2%) in April Japan Tokyo CPI ex Fresh Food (YoY) came in at 1.6%, below expectations (2.2%) in April

02:31 Japan Tokyo CPI ex Food, Energy (YoY) below expectations (2.7%) in April: Actual (1.8%) Japan Tokyo CPI ex Food, Energy (YoY) below expectations (2.7%) in April: Actual (1.8%)

02:30 Japan Tokyo Consumer Price Index (YoY) registered at 1.8%, below expectations (2.6%) in April Japan Tokyo Consumer Price Index (YoY) registered at 1.8%, below expectations (2.6%) in April

02:10 USD/CAD extends its downside below 1.3670, investors await US PCE data The USD/CAD pair extends its downside near 1.3655 on Friday during the early Asian session.

02:01 United Kingdom GfK Consumer Confidence above expectations (-20) in April: Actual (-19) United Kingdom GfK Consumer Confidence above expectations (-20) in April: Actual (-19)

02:01 Ireland Consumer Confidence down to 67.8 in April from previous 69.5 Ireland Consumer Confidence down to 67.8 in April from previous 69.5

02:00 Bank of Japan expected to keep interest rates on hold after landmark hike The Bank of Japan (BoJ) is set to leave its short-term rate target unchanged in the range between 0% and 0.1% on Friday, following the conclusion of its two-day monetary policy review meeting for April.

01:46 EUR/USD mired near 1.0730 after choppy Thursday market session EUR/USD whipsawed somewhat on Thursday, and the pair is heading into Friday's early session near 1.0730 after a back-and-forth session and complicated US data that vexed rate cut hopes.

01:12 AUD/USD stand firm above 0.6500 with markets bracing for Aussie PPI, US inflation The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday.

01:06 New Zealand's ANZ Consumer Confidence slides to 82.1 in April ANZ's New Zealand Roy Morgan Consumer Confidence slipped another 4 points to 82.1 in April, declining to the indicator's lowest levels since 2008.

01:05 New Zealand ANZ – Roy Morgan Consumer Confidence declined to 82.1 in April from previous 86.4 New Zealand ANZ – Roy Morgan Consumer Confidence declined to 82.1 in April from previous 86.4

00:52 NZD/USD Price Analysis: Bears back off, potential trend reversal on cards tied to 20-day SMA recovery The NZD/USD pair stands at 0.5949, registering daily gains on Thursday’s session.

00:28 EUR/USD Price Analysis: Bulls are not out of the woods, despite reclaiming 1.0700 On Thursday, the Euro rose against the US Dollar after US economic data portrayed the economy as weaker than expected.

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