Forex News Timeline

23:34 AUD/JPY Price Analysis: Gains capped near key resistance as bearish backdrop persists
The AUD/JPY pair posted a mild advance on Friday’s session, moving toward the 90.30 zone after notching a gain of over 0.30%.

AUD/JPY trades near the 90.30 zone after modest gains on FridayMomentum remains weak as indicators lean neutral-to-bearishResistance at 90.86 and bearish pressure from key moving averages limit upsideThe AUD/JPY pair posted a mild advance on Friday’s session, moving toward the 90.30 zone after notching a gain of over 0.30%. Despite the intraday rise, the overall technical picture remains bearish, with the pair still struggling beneath several key resistance levels and longer-term moving averages.While price action approached the top of the daily range (88.287–90.516), momentum indicators reveal limited conviction behind the move. The Relative Strength Index (RSI) remains neutral at 42.156, while the MACD continues to flash a sell signal. Similarly, both the Bull Bear Power (-3.748) and Commodity Channel Index (CCI) at -92.800 offer neutral reads, pointing to a potential loss of bullish traction.Trend-based indicators continue to favor sellers. The 20-day simple moving average (SMA) at 92.780, along with the 100-day SMA at 95.861 and the 200-day SMA at 97.903, all tilt downward. Bearish signals are further confirmed by the 10-day exponential moving average (EMA) at 90.867 and 10-day SMA at 90.985.Looking ahead, support is seen at 89.341, with resistance levels aligned at 90.867, 90.899, and 90.985. A sustained break above this confluence would be needed to weaken the current bearish bias, though the broader trend remains under pressure.
Daily chart

23:21 Canadian Dollar gains further ground as market flows continue to reverse
The Canadian Dollar (CAD) rose on Friday, jumping two-thirds of a percent against the US Dollar as global market flows continue to reverse out of the safe haven Greenback.

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Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive. How does the price of Oil impact the Canadian Dollar? The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD. How does inflation data impact the value of the Canadian Dollar? While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. How does economic data influence the value of the Canadian Dollar? Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.

23:11 Argentina Consumer Price Index (MoM): 3.7% (March) vs 2.4%
Argentina Consumer Price Index (MoM): 3.7% (March) vs 2.4%

23:09 Eurozone CFTC EUR NC Net Positions remains unchanged at €51.8K
Eurozone CFTC EUR NC Net Positions remains unchanged at €51.8K

23:09 United Kingdom CFTC GBP NC Net Positions remains unchanged at £34.6K
United Kingdom CFTC GBP NC Net Positions remains unchanged at £34.6K

23:08 United States CFTC Gold NC Net Positions remains at $238.4K
United States CFTC Gold NC Net Positions remains at $238.4K

23:08 United States CFTC S&P 500 NC Net Positions remains unchanged at $-19K
United States CFTC S&P 500 NC Net Positions remains unchanged at $-19K

23:08 United States CFTC Oil NC Net Positions remains unchanged at 167.7K
United States CFTC Oil NC Net Positions remains unchanged at 167.7K

23:08 Japan CFTC JPY NC Net Positions remains at ¥121.8K
Japan CFTC JPY NC Net Positions remains at ¥121.8K

23:07 Australia CFTC AUD NC Net Positions: $-75.9K
Australia CFTC AUD NC Net Positions: $-75.9K

22:25 Gold soars to record high as trade war erupts, USD crashes to 35-month low
Gold's price rally extended for the third straight day on Friday with the yellow metal hitting a new all-time high of $3,245. Gains of over 2% were posted amid the escalation of the trade war between the US and China and its impact on the global economy.

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Gains of over 2% were posted amid the escalation of the trade war between the US and China and its impact on the global economy. At the time of writing, XAU/USD trades at $3,233.During the North American session, China applied 125% tariffs on the US as retaliation forUS President Donald Trump's decision to increase its duties to 145% on Chinese products. Therefore, investors seeking safety drove Bullion prices higher, boosted by a weaker Greenback, which plunged to a near three-year low, as depicted by the US Dollar Index (DXY) reaching 99.01.The economic docket featured some Federal Reserve (Fed) officials crossing the wires. Inflation on the producer side edged lower for both headline and core readings, though the latter remains in the 3% threshold. After that, the University of Michigan Consumer Sentiment poll revealed that American households turned pessimistic about the economic situation and grew worried about inflation expectations.Although the data was mixed, this could prevent the Fed from easing policy due to the trade tariffs, which are considered inflation-prone. Hence, as the Fed most likely remains in the wait-and-see mode, traders are now fully pricing in three interest rate cuts in 2025.Daily digest market movers: Gold price rallies, unfazed by high US real yieldsThe US 10-year Treasury yield rises seven basis points to 4.495%. US real yields surged seven and a half bps to 2.307%, as shown by the US 10-year Treasury Inflation-Protected Securities yields failing to cap Gold prices.The University of Michigan’s Consumer Sentiment Index showed a notable decline in April, dropping from 57.0 to 50.8, signaling rising pessimism among households. Inflation expectations surged, with the one-year outlook jumping from 5% to 6.7% and the five-year forecast rising from 4.1% to 4.4%.The US Producer Price Index (PPI) for March fell to 2.7% YoY, down from 3.2% and below the 3.3% forecast, suggesting easing input cost pressures. However, core PPI — which excludes food and energy — remained above the 3% threshold, coming in at 3.3% YoY, down from 3.5% in February and slightly under the 3.6% estimate.On Friday, some US banks expressed that the probability of a recession had increased. Among them are Wells Fargo and Morgan Stanley CEO Ted Pick.JPMorgan CEO Jamie Dimon said that US recession odds are at 50%.Recession fears had increased, according to Goldman Sachs, which said the chances of a recession rose from 35% to 45% in 12 months.XAU/USD technical outlook: Gold price clears the $3,100 and $3,200 levels as it reaches record highGold price uptrend remains intact with buyers eyeing the $3,250 mark. A breach of the current all-time high (ATH) of $3,245 could pave the way toward the latter. If those two ceiling levels are cleared, the next stop would be $3,300.Conversely, if XAU/USD drops below $3,200, the first support would be the April 10 high of $3,176. Once cleared, the next stop would be the $3,100 mark. 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.

21:40 Dow Jones Industrial Average gains ground as investors try to shrug off new tariffs from China
The Dow Jones Industrial Average (DJIA) caught a late bid on Friday, rising back into the 40,000 major price handle after an early dip on rising tariffs between the US and China.

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Dow Jones FAQs What is the Dow Jones? The Dow Jones Industrial Average, one of the oldest stock market indices in the world, is compiled of the 30 most traded stocks in the US. The index is price-weighted rather than weighted by capitalization. It is calculated by summing the prices of the constituent stocks and dividing them by a factor, currently 0.152. The index was founded by Charles Dow, who also founded the Wall Street Journal. In later years it has been criticized for not being broadly representative enough because it only tracks 30 conglomerates, unlike broader indices such as the S&P 500. What factors impact the Dow Jones Industrial Average? Many different factors drive the Dow Jones Industrial Average (DJIA). The aggregate performance of the component companies revealed in quarterly company earnings reports is the main one. US and global macroeconomic data also contributes as it impacts on investor sentiment. The level of interest rates, set by the Federal Reserve (Fed), also influences the DJIA as it affects the cost of credit, on which many corporations are heavily reliant. Therefore, inflation can be a major driver as well as other metrics which impact the Fed decisions. What is Dow Theory? Dow Theory is a method for identifying the primary trend of the stock market developed by Charles Dow. A key step is to compare the direction of the Dow Jones Industrial Average (DJIA) and the Dow Jones Transportation Average (DJTA) and only follow trends where both are moving in the same direction. Volume is a confirmatory criteria. The theory uses elements of peak and trough analysis. Dow’s theory posits three trend phases: accumulation, when smart money starts buying or selling; public participation, when the wider public joins in; and distribution, when the smart money exits. How can I trade the DJIA? There are a number of ways to trade the DJIA. One is to use ETFs which allow investors to trade the DJIA as a single security, rather than having to buy shares in all 30 constituent companies. A leading example is the SPDR Dow Jones Industrial Average ETF (DIA). DJIA futures contracts enable traders to speculate on the future value of the index and Options provide the right, but not the obligation, to buy or sell the index at a predetermined price in the future. Mutual funds enable investors to buy a share of a diversified portfolio of DJIA stocks thus providing exposure to the overall index.

21:34 US Dollar sinks as confidence plunges and inflation outlook clouds
The US Dollar Index (DXY) continued to slide in Friday’s session, falling near the 100 area after setting a new three-year low earlier in the day.

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The US Dollar Index (DXY) continued to slide in Friday’s session, falling near the 100 area after setting a new three-year low earlier in the day. The downtrend reflects a broad deterioration in investor confidence as fresh data and central bank commentary paint a gloomy picture for the United States (US) economy. The University of Michigan’s sentiment index tumbled in April, while the Producer Price Index came in below forecasts, adding to the market’s disinflation concerns. Several Federal Reserve (Fed) officials flagged rising inflation expectations as a risk, even as short-term economic data hints at softening demand. Technically, momentum remains strongly bearish as the DXY extends its retreat.
Daily digest market movers: US Dollar drops on consumer gloom and tariff falloutThe University of Michigan’s sentiment gauge dropped to 50.8 in April, while inflation expectations surged to 6.7% for the one-year view.New York Fed’s Williams and Boston Fed’s Collins warned of rising trade-related inflation risks and a likely downturn in growth.US Producer Price Index rose 2.7% year-over-year in March, down from February’s 3.2%, while the core rate slowed to 3.3%.Unemployment claims edged up to 223K, with continuing claims falling to 1.85M, signaling mixed labor dynamics.China confirmed retaliatory tariffs on US imports, matching Washington’s hike to 125% and reviving recession concerns globally.
Technical analysis
The bearish tone remains dominant for the US Dollar Index, which is trading around the 100 area, near the session’s low. The Moving Average Convergence Divergence (MACD) continues to issue a sell signal, while the Relative Strength Index (RSI) sits at 29.37, reflecting weak but not oversold momentum. Momentum (10) reads -3.303, confirming continued downside risk. All major moving averages—including the 20-day Simple Moving Average at 103.52, the 100-day at 106.48, and the 200-day at 104.79—signal selling pressure. Resistance is expected at 102.29, 102.72, and 102.89, with no significant support identified below the current range. The technical backdrop suggests the DXY’s slump may not yet be over.
US-China Trade War FAQs What does “trade war” mean? Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living. What is the US-China trade war? An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies. Trade war 2.0 The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.

20:51 Fed's Collins: Fed is prepared to use tools as needed, but rate cuts may not be appropriate
Federal Reserve (Fed) Bank of Boston President Susan Collins noted that the Fed has multiple monetary policy tools available and at its disposal should market conditions require them, but the Fed policymaker used the opportunity to push against the idea of the Fed using rate cuts first.

Federal Reserve (Fed) Bank of Boston President Susan Collins noted that the Fed has multiple monetary policy tools available and at its disposal should market conditions require them, but the Fed policymaker used the opportunity to push against the idea of the Fed using rate cuts first.Key highlightsThe Fed would absolutely be prepared to stabilize financial markets should conditions become disorderly.

Markets are continuing to function well, we're not seeing liquidity concerns overall.

The Fed has tools to address concerns about market functioning or liquidity should they arise.

The Fed has had to deploy various tools quite quickly in the past.

Fed is absolutely prepared to do that as needed.

Core interest rate tool used for monetary policy is certainly not the only tool in the toolkit.

Interest rates probably not the best way to address liquidity challenges.

Direct action by the Fed depends on what conditions it sees.

The Fed already has additional standings facilities in place to help support market functions.

20:49 White House: Tariff rate on China remains at 145%
White House press secretary Karoline Leavitt reported that US President Donald Trump was optimistic about securing a trade deal with China, despite the escalating trade war between the two economic giants that had been battering markets.

White House press secretary Karoline Leavitt reported that US President Donald Trump was optimistic about securing a trade deal with China, despite the escalating trade war between the two economic giants that had been battering markets.Key TakeawaysTrump has made it clear he is open to a deal with China. Tariff rate on China remains 145% level. Treasury Secretary keeping very close eye on bond market. More than 15 trade offers already on table. Trump hopes deals will be made before 90 days are up. When 90-day mark hits, Trump will make decision.

20:02 United States Baker Hughes US Oil Rig Count dipped from previous 489 to 480
United States Baker Hughes US Oil Rig Count dipped from previous 489 to 480

19:00 Russia Consumer Price Index (MoM) down to 0.65% in March from previous 0.8%
Russia Consumer Price Index (MoM) down to 0.65% in March from previous 0.8%

18:54 EUR/USD Price Analysis: Bulls push toward fresh highs as pair trades above the 1.1300 zone
The EUR/USD pair extended its rally on Friday, rising sharply and moving near the 1.1300 zone after the European session. With the pair positioned mid-range between 1.11873 and 1.14736, bulls remain in control, pushing toward new highs for the year amid renewed risk appetite.

EUR/USD trades near the 1.1300 zone after strong upside in Friday's sessionMACD flashes a buy signal while the RSI flashes with overbought territoryKey SMAs reinforce the bullish bias, with support seen in the 1.11–1.1000 rangeThe EUR/USD pair extended its rally on Friday, rising sharply and moving near the 1.1300 zone after the European session. With the pair positioned mid-range between 1.11873 and 1.14736, bulls remain in control, pushing toward new highs for the year amid renewed risk appetite.Technical indicators show a strong bullish setup, although some caution emerges. The Relative Strength Index (RSI) stands at 75.43, hinting at overbought conditions, while the MACD continues to generate a clear buy signal. The Stochastic %K at 74.94 and the Awesome Oscillator at 0.03 both remain neutral, suggesting momentum may stabilize in the short term.The broader trend remains constructive, supported by upward-sloping moving averages. The 20-day SMA at 1.09102, the 100-day SMA at 1.05556, and the 200-day SMA at 1.07427 all suggest sustained upside pressure. Shorter-term moving averages like the 10-day EMA (1.10273) and 10-day SMA (1.09813) reinforce the ongoing bullish momentum.Looking ahead, support levels are seen at 1.11728, 1.1103, and 1.10273. On the upside, traders may look for potential continuation toward the 1.14 handle if the bullish breakout holds, though slightly overbought conditions may prompt a pause or minor correction in the near term.
EUR/USD Daily chart

18:22 GBP/USD rallies past 1.3000 as China escalates trade-war with US
The Pound Sterling extends its gains versus the US Dollar as the US-Sino trade war escalates, with China imposing 125% tariffs on US goods. Trade policies continue to drive price action, with economic data taking a backseat. At the time of writing, the GBP/USD trades at 1.3067, up 0.77%.

18:21 Fed's Williams: Tariffs will boost inflation to 3.5-4% this year
Federal Reserve Bank of New York President John Williams noted on Friday that he overwhelmingly anticipates a general weakening in US economic data as tariffs continue to take root.

Federal Reserve Bank of New York President John Williams noted on Friday that he overwhelmingly anticipates a general weakening in US economic data as tariffs continue to take root.Key highlightsTariffs will boost inflation to between 3.5% to 4% this year.

The economy is beset by very high levels of uncertainty.

Tariffs and trade key drivers of huge uncertainty.

Modestly restrictive monetary policy is totally appropriate.

Fed policy is well positioned for what lies ahead.

Current US monetary policy allows the central bank space to react.

I remain fully committed to getting inflation back to 2%.

Longer-term inflation expectations are anchored, we must maintain that.

I expect growth to slow considerably to 1% this year.

There's an unusually wide array of outcomes that lie ahead for the economy.

The economy started the year on solid footing.

I see the jobless rate rising to between 4.5%-5% this year.

The key question is if higher inflation spills into 2026.

17:59 Fed's Musalem : Expect growth this year lower than trend
St. Louis Federal Reserve President Alberto Musalem said on Friday that he expects the economic growth this year to be lower than the trend, per Reuters.

17:22 Fed’s Musalem: There is more work to do on inflation
St.

St. Louis Federal Reserve President Alberto Musalem indicated that he was closely monitoring whether a rise in short-term inflation expectations was seeping into longer-term ones, noting that such a development could complicate efforts to combat inflation and diminish the Fed’s flexibility in addressing labour market weaknesses.Key QuotesDistinct possibility that inflation rises even as labour market softens. Appropriate to lean against tariff-induced 'second-round' inflation that may be persistent. Inflation expectations must remain anchored for a Fed policy that's responsive to both employment and price stability concerns to be feasible. Uncertainty is high, Fed policy is well positioned. Downside risks to growth, employment have increased; notable headwinds for labour market. Limited progress on inflation since mid-2024; risks of near-term rise have increased; more work to do. Closely monitoring whether rise in near-term inflation expectations seeps into longer-term ones. Bankers say loan demand softening, see consumer loan portfolios weakening, challenging conditions for agricultural sector. Firms say they expect to raise prices due to tariffs, but also report consumers are increasingly price-sensitive.

17:09 US UoM Consumer Sentiment Index drops to 50.8 in April vs. 54.5 expected
Consumer confidence in the US continued to deteriorate in April, with the University of Michigan's (UoM) Consumer Sentiment Index dropping to 50.8 in the flash estimate from 57 in March. This reading came in worse than the market expectation of 54.5.

17:00 Russia Foreign Trade climbed from previous $7.159B to $10.5B in February
Russia Foreign Trade climbed from previous $7.159B to $10.5B in February

17:00 United States UoM 1-year Consumer Inflation Expectations climbed from previous 5 to 6.7 in April
United States UoM 1-year Consumer Inflation Expectations climbed from previous 5 to 6.7 in April

17:00 United States Michigan Consumer Expectations Index below expectations (50.8) in April: Actual (47.2)
United States Michigan Consumer Expectations Index below expectations (50.8) in April: Actual (47.2)

17:00 United States UoM 5-year Consumer Inflation Expectation increased to 4.4% in April from previous 4.1%
United States UoM 5-year Consumer Inflation Expectation increased to 4.4% in April from previous 4.1%

17:00 United States Michigan Consumer Sentiment Index registered at 50.8, below expectations (54.5) in April
United States Michigan Consumer Sentiment Index registered at 50.8, below expectations (54.5) in April

16:31 USD safe haven status under pressure – Rabobank
The US dollar's role as a global safe haven is being challenged amid rising budget deficits and trade tensions.

The US dollar's role as a global safe haven is being challenged amid rising budget deficits and trade tensions. As investor confidence wavers, traditional havens like the Swiss franc and Japanese yen are gaining ground, signaling a broader retreat from US assets, Rabobank's FX analyst Jane Foley reports. Tariff fears shake confidence in the USD"The inability of the US Treasury market and the USD to function as safe havens over the past week has upended market norms and undermined the benefits to the US of ‘exceptionalism.’ If the cost of borrowing for the US Treasury continues to rise, the huge size of the budget deficit could start to matter in a way that it has not before. Last year, the US budget deficit stood at 6.4% of GDP.""The USD’s dominance within the global payments system suggests a surge in demand for the greenback may still occur if investors start to worry about a credit event in the market. For now, however, the story that appears to be dominating flows is the fear that the positive growth outlook for corporate America has come to an abrupt halt under the weight of tariff news. These fears are mingling with concerns that Trump’s aggressive isolationist policies has damaged the country’s reputation.""While the failure of the USD to behave as a safe haven in times of turmoil is unusual, the CHF and the JPY have been displaying text-book behaviour. While the haven quality of the greenback is built around its dominance as an invoicing and reserve currency, the CHF and the JPY derive strength from the tendency of investors to bring money home when uncertainty spikes. Both currencies are associated with current account surplus countries."

16:28 Fed’s Collins: The Fed will need to hold steady for longer
During an interview with Yahoo Finance on Friday, Federal Reserve Bank of Boston President Susan Collins noted that even amidst intense pressure, financial markets seem to be weathering the storm.

During an interview with Yahoo Finance on Friday, Federal Reserve Bank of Boston President Susan Collins noted that even amidst intense pressure, financial markets seem to be weathering the storm.Key QuotesWe came into first quarter with solid economic conditions. Markets continue to function well. Tariffs will push up inflation pressures. Tariff announcements are very significant. China trade issues are very big for economy. Hard to invest in times of big uncertainty. Current slate of tariffs are very high. Modal view is for slower growth, not a downturn. Financial market movements bear focusing on. Won't rule out a downturn. Hard to say when tariffs will impact inflation. Would expect inflation 'well over' 3% this year due to tariffs. Sees mixed bag on longer run inflation expectations. At this point expectation is fed will need to hold steady for longer.

16:26 GBP advance lags core peers – Scotiabank
Pound Sterling (GBP) is firmer on the day but has struggled to keep up with its core G10 peers over the week, Scotiabank's Chief FX Strategist Shaun Osborne notes.

Pound Sterling (GBP) is firmer on the day but has struggled to keep up with its core G10 peers over the week, Scotiabank's Chief FX Strategist Shaun Osborne notes. UK February GDP gains strongly"UK data today reflected a solid rise in February GDP (up 0.5% M/M versus a forecast 0.1% rise). Services and construction were firmer but a (pre-tariff?) jump in manufacturing (+2.2%) in the month drove gains." "GBP has found it harder to advance this week but GBP dips met with solid support below 1.27 and a firm close on the week (above 1.30 for the first time since October perhaps) suggests the pound should be able to advance further and the days/weeks ahead. Resistance is 1.32 and a push above here targets 1.34. Support is 1.2975/00."

16:23 EUR surges to 1.14 before consolidating – Scotiabank
The Euro (EUR) tested the upper 1.08s Monday and traded to a three-year high above 1.14 earlier. It is notable that the EUR surge is happening against a backdrop of widening EZ/US spreads which would ordinarily be a negative factor for the EUR, Scotiabank's Chief FX Strategist Shaun Osborne notes.

The Euro (EUR) tested the upper 1.08s Monday and traded to a three-year high above 1.14 earlier. It is notable that the EUR surge is happening against a backdrop of widening EZ/US spreads which would ordinarily be a negative factor for the EUR, Scotiabank's Chief FX Strategist Shaun Osborne notes. Markets dump US assets"But the huge movement in bond yields and spreads (the 2Y spread has widened 43bps since Monday) this week reflects a lack of confidence in US Treasurys and a haven bid for German Bunds and, therefore, the EUR. The EUR is backing off its intraday high on the USD above 1.14 but the drift reflects a pause or consolidation in the rally rather than a reversal at this point.""In fact, the bull trend in the EUR looks firmly established across short-, medium and long-term studies, suggesting minor dips (low/mid 1.12s perhaps) are a buy and more EUR gains will develop in the medium term. Solid EUR gains above 1.12 this week suggest the EUR is potentially heading to a new, higher range between 1.17/1.22."

16:23 USD/JPY drops to seven-month lows near 142.00
USD/JPY adds to the pessimism seen in the latter part of the week and recedes to the 142.00 region on Friday, an area last seen in late September.

USD/JPY adds to Thursday drop, challenges the 142.00 region.The US Dollar loses further ground on tariff fears, recession jitters.US Producer Prices came in below expectations in March.Safe-haven inflows prop up the Japanese yenUSD/JPY adds to the pessimism seen in the latter part of the week and recedes to the 142.00 region on Friday, an area last seen in late September.The continuation of the noticeable appreciation of the Japanese currency put the pair under extra downside pressure, always on the back of heightened concerns surrounding the US-China trade scenario.On the latter, China announced 125% levies on US imports, counterbalancing Trump’s recently announced 145% tariffs on the country.What’s nextLater in the day, the flash Michigan Consumer Sentiment should keep the attention on the US economy.The day so farUS Producer Prices came in below estimates in March at 2.7% from a year earlier, while contracting 0.4% vs. the previous month.Key levels to keep in mindUSD/JPY faces its next support at its 2025 bottom of 142.04 (April 11), seconded by the weekly trough at 141.64 (September 30) and the 2024 floor at 139.57 (September 16).In case of occasional bullish attempts, the initial resistance lies at the weekly high at 148.28 (April 9), ahead of the 200-day SMA at 150.94 and the weekly peak of 151.20 (March 28).Furthermore, the pair is flirting with the oversold region around the 30 threshold, suggesting that near-term technical rebound should not be ruled out.USD/JPY daily chart

16:19 CAD grinds higher versus a weaker USD – Scotiabank
The Canadian Dollar (CAD) is getting pulled along with the broader sell-off in the USD and is notching up another decent weekly gain—its fourth on the trot and the largest since late 2022.

The Canadian Dollar (CAD) is getting pulled along with the broader sell-off in the USD and is notching up another decent weekly gain—its fourth on the trot and the largest since late 2022. US/Canada spreads have compressed somewhat amid all the volatility in markets but the weak USD tone is the primary driver of the CAD’s rise, Scotiabank's Chief FX Strategist Shaun Osborne notes. BoC can remain on hold next week"The CAD has outperformed its commodity peers this week but it is lagging the core G10 currencies by a significant margin. Fair value is getting stretched (stocks, volatility and commodity prices are a constraint) and our equilibrium estimate sits a little above 1.40 this morning. That is not necessarily an impediment to further USD losses in the short run though." "At the margin, a stronger CAD (implies some tightening) adds a tad more weight to the idea that the BoC can remain on hold next week. The downtrend in USD/CAD is becoming more established on the short- and medium-term charts. A solid close for the CAD this week, below the 200-day MA at 1.4006) or even below 1.3944 (61.8% retracement of the Sep/ Feb USD rally) would be a technical plus for the CAD.""Intraday price action does suggest the USD sell-off is moderating after pushing below 1.39 earlier. Market pressure on the USD may relent briefly but gains towards the high 1.39s/low 1.40s will likely attract renewed selling."

16:15 USD slide extends to a three-year low – Scotiabank
'Transition problems' with US Tariffs continue. The US Dollar (USD) is getting trashed.

'Transition problems' with US Tariffs continue. The US Dollar (USD) is getting trashed. A hugely volatile week for financial markets is ending with another significant fall in the USD, softer US Treasurys and still fragile risk appetite amid China’s tit-for-tat response to the hike in US tariffs, Scotiabank's Chief FX Strategist Shaun Osborne notes. USD slumps again as tariff worries persist"China raised tariffs on US goods to 125% as of April 12th but said it would not respond to any further US moves. Havens—not US Treasurys—are bid up again; the CHF and JPY, plus the EUR, are outperforming while gold is trading at a new cycle high. High beta FX is underperforming today (and over the week), with the MXN at the bottom of the intraday performance table today. "Markets are protesting US policy and it is not helpful that US officials are downplaying this week’s market swings. Financial markets can have a disciplining effect, as former UK PM Truss discovered in 2022 when the pound, Gilts and UK equities were falling in unison. That has been happening in the US this week and it is a clear signal that markets anticipate negative consequences from the US’ pursuit of aggressive tariffs on its trade partners and are dumping US assets as a result. The 90-day reprieve won’t help." "It just prolongs the uncertainty and increases the risk of a negative economic outcome. A tariff off-ramp must be found quickly or the USD will continue to fall. The Dollar Index (DXY) has reached the 99 target I have been referring to for a while but the risk of a further, significant fall is rising. Unless that tariff off-ramp can be located quickly, the USD could fall another 5-10%. Markets will look to minor gains (USD shortcovering into the weekend perhaps) as a selling opportunity."

15:34 US annual PPI inflation softens to 2.7% in March vs. 3.3% expected
The Producer Price Index (PPI) for final demand in the US rose 2.7% on a yearly basis in March, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed the 3.2% increase recorded in February and came in below the market expectation of 3.3%.

Producer inflation in the US softened unexpectedly in March.US Dollar Index stays deep in negative territory below 100.00.The Producer Price Index (PPI) for final demand in the US rose 2.7% on a yearly basis in March, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed the 3.2% increase recorded in February and came in below the market expectation of 3.3%.The annual core PPI rose 3.3% in the same period, down from 3.5% in February. On a monthly basis, the PPI and the core PPI declined 0.4% and 0.1%, respectively.Market reactionThe US Dollar Index stays under heavy bearish pressure in the American session on Friday and was last seen losing 1.2% on the day at 99.65.

15:30 Germany Current Account n.s.a. increased to €20B in February from previous €11.8B
Germany Current Account n.s.a. increased to €20B in February from previous €11.8B

15:30 United States Producer Price Index (YoY) came in at 2.7% below forecasts (3.3%) in March
United States Producer Price Index (YoY) came in at 2.7% below forecasts (3.3%) in March

15:30 United States Producer Price Index ex Food & Energy (YoY) below expectations (3.6%) in March: Actual (3.3%)
United States Producer Price Index ex Food & Energy (YoY) below expectations (3.6%) in March: Actual (3.3%)

15:30 United States Producer Price Index (MoM) below forecasts (0.2%) in March: Actual (-0.4%)
United States Producer Price Index (MoM) below forecasts (0.2%) in March: Actual (-0.4%)

15:30 United States Producer Price Index ex Food & Energy (MoM) below expectations (0.3%) in March: Actual (-0.1%)
United States Producer Price Index ex Food & Energy (MoM) below expectations (0.3%) in March: Actual (-0.1%)

15:24 US Dollar pares losses, DXY holding near thee-year lows
The US Dollar Index (DXY) bounced from a fresh three-year low of 99.02 achieved on Friday amid escalating tensions between China and the United States (US). The index currently hovers around 99.70, sharply down for a second consecutive day.

15:11 Fed's Kashkari: Not seeing evidence yet that long-run inflation expectations are rising
In an interview with CNBC on Friday, Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari said that their job is to make sure that inflation expectations don't rise, per Reuters.

In an interview with CNBC on Friday, Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari said that their job is to make sure that inflation expectations don't rise, per Reuters.Key takeaways"Not seeing evidence yet that long-run inflation expectations are rising.""Investors may believe that if trade deficit is going to come down, US may not be as attractive an investment.""There may be credibility to the story of investor preferences shifting.""I think we're quite a ways away from market conditions we saw in pandemic.""Ultimately we have the ability to manage some of these transitions, can smooth out dislocations.""We cannot determine where yields ultimately settle, only can smooth the transition.""There was a lot of good news under the hood in CPI.""The effect of tariffs suggest inflation will be going back up again, our job to ensure it doesn't turn to long-term inflation.""If we hadn't had 4 years of high inflation, I'd be more comfortable taking a look-through approach.""With inflation still elevated, it makes me nervous about taking that one-time look-through approach on tariffs' effect on inflation."Market reactionThe US Dollar struggles to rebound following these comments. At the time of press, the USD Index was down 1.1% on the day at 99.77.

15:00 Mexico Industrial Output (YoY) came in at -1.3%, above expectations (-3.9%) in February
Mexico Industrial Output (YoY) came in at -1.3%, above expectations (-3.9%) in February

15:00 Brazil IPCA Inflation meets forecasts (0.56%) in March
Brazil IPCA Inflation meets forecasts (0.56%) in March

14:30 India FX Reserves, USD up to $676.27B in March 31 from previous $665.4B
India FX Reserves, USD up to $676.27B in March 31 from previous $665.4B

14:30 USD/CHF bounces off lows near the 0.8100 zone, tariffs eyed
On Friday, Beijing dramatically ramped up tariffs on US imports to 125%, striking back at President Trump's move to hike duties on Chinese goods to 145%. This countermeasure has ramped up the tension in a trade war that now threatens to upend global supply chains.

USD/CHF drops to the vicinity of 0.8100 and rebounds.The demand for the safe-haven space underpins the Swiss franc.Attention now shifts to the release of the US Producer Prices.China’s fresh round of tariffs bolsters CHF, hits USDOn Friday, Beijing dramatically ramped up tariffs on US imports to 125%, striking back at President Trump's move to hike duties on Chinese goods to 145%. This countermeasure has ramped up the tension in a trade war that now threatens to upend global supply chains.That said, investors continue to seek refuge in the safe-haven space, lending extra legs to the Swiss currency and prompting the pair to retreat to the 0.8100 neighbourhood for the first time sin September 2011.Meanwhile, US stagflation fears have been picking up pace strongly in the past few days, hurting the Greenback and triggering a steep correction in the US Dollar Index (DXY). The bearish tone in the US Dollar has been also propped up after investors’ repricing of more rate cuts by the Federal Reserve (Fed) this year, especially after US CPI data came in below consensus in March.What’s nextLater, traders will be keeping a close eye on US inflation figures, as the March Producer Prices take centre stage. At the same time, the preliminary release of the Michigan Consumer Sentiment gauge will also attract plenty of attention—especially its inflation component, which often offers early clues about consumer spending and pricing pressures.The day so farEarlier on Friday, Switzerland’s Consumer Climate worsened slightly to -35 in March, according to SECO.Key levels on the technical pictureNext on the downside for USD/CHF comes the 2025 floor at 0.8109 (April 11). The loss of this level could open the door to the 0.8000 round level, prior to the September 2011 low at 0.7710 (September 2).On the upside, the next relevant level comes at the 200-day SMA at 0.8787, ahead of the weekly top of 0.8809 (March 14).The pair trades within severe oversold conditions around 18, which could spark a probable technical uptick in the not-so-distant future.

14:26 Platinum and Palladium hit by tariff conflict, downward revision of price forecasts – Commerzbank
The tariff conflict triggered by US President Trump and the resulting increase in risk aversion also put pressure on the Platinum and Palladium prices.

The tariff conflict triggered by US President Trump and the resulting increase in risk aversion also put pressure on the Platinum and Palladium prices. Tariff turmoil hits Platinum and Palladium prices"The Platinum price fell to $900 per troy ounce at the start of the week, its lowest level in almost a year. The Palladium price slipped to $890 per troy ounce, its lowest level in eight months. At the beginning of the month, Platinum and Palladium were still trading at around $1,000. The suspension of most of the tariffs also led to a price recovery for Platinum and Palladium.""Nevertheless, both prices remain at the lower end of the trading ranges of recent months. Uncertainty over US tariff policy is likely to leave its mark on demand, which is heavily influenced by the automotive industry, especially as US tariffs of 25% on cars came into force at the beginning of April and additional US tariffs of 25% on car parts are due to take effect in early May." "We are taking this into account and reducing our year-end price forecast for Platinum to $1,000 per troy ounce (previously $1,100). We are also lowering our year-end forecast for Palladium to $1,000 per troy ounce (previously $1,150)."

14:21 Gold ETFs post strong inflows in March and the first quarter – Commerzbank
The March data on gold ETFs published by the World Gold Council this week showed a continued high buying interest among ETF investors, Commerzbank's commodity analyst Carsten Fritsch notes.

The March data on gold ETFs published by the World Gold Council this week showed a continued high buying interest among ETF investors, Commerzbank's commodity analyst Carsten Fritsch notes. US tariff uncertainty drives investor demand "According to the data, there were net inflows of 92 tons last month. This was almost as much as in February, when the strongest monthly inflows in almost three years were recorded. The WGC attributes this to the price increase and uncertainty caused by the US tariff policy, among other things. Over the course of the first quarter, gold ETF holdings rose by 226 tons, the largest increase in three years." "The largest inflows were recorded by ETFs listed in the US. However, European and Asian ETFs also registered inflows. Gold ETF holdings reached their highest level since May 2023 at 3,445 tons. Due to the record high gold price level, assets under management (AUM) in gold ETFs were higher than ever before at USD 345.4 billion at the end of March." "The significant rise in the gold price also ensured that the increase in value terms in the first quarter was the second strongest ever, surpassed only by the increase in the second quarter of 2020. ETF demand was therefore a key driver of the 19% rise in the gold price in the first quarter."

14:19 EIA lowers forecast for global oil demand and US oil production – Commerzbank
Oversupply fears push oil price outlook lower

The US Energy Information Administration (EIA) has revised its forecast for global oil demand downwards, Commerzbank's commodity analyst Carsten Fritsch notes. Oversupply fears push oil price outlook lower"It now expects an increase of only 900 thousand barrels per day this year and 1 million barrels per day next year. Previously, the expected increase was 1.2 million barrels per day in each case. According to the EIA, the weaker demand and the stronger production increase by OPEC+ are likely to lead to a greater oversupply on the oil market in the second half of the year." "As a result, the EIA also significantly lowered its assumptions for oil prices. In response, the EIA also reduced its forecast for US crude oil production. This is only expected to increase by 300,000 barrels per day in 2025 and to virtually stagnate next year."

14:16 Large discrepancies between surveys on OPEC production in March – Commerzbank
The OPEC production surveys by Reuters and Bloomberg again showed a considerable discrepancy for March, Commerzbank's commodity analyst Carsten Fritsch notes.

The OPEC production surveys by Reuters and Bloomberg again showed a considerable discrepancy for March, Commerzbank's commodity analyst Carsten Fritsch notes. UAE and Iraq at center of survey discrepancy"According to Reuters, oil production in the nine countries bound by production targets (OPEC-9) totalled a good 21.2 million barrels per day, which was in line with the agreed production volume. Bloomberg, on the other hand, shows a significantly higher OPEC-9 production of 21.8 million barrels per day." "The United Arab Emirates and Iraq again show particularly large deviations. While both countries met the production targets in the Reuters survey, provided that the compensating cuts in Iraq are not taken into account, there was considerable overproduction in the Bloomberg survey." "As Bloomberg also shows higher production for Iran and Venezuela than Reuters, the difference in total OPEC production between the two surveys is as much as 800 thousand barrels per day. This makes it difficult to say how high OPEC production and compliance with production targets were before the start of the production increases."

14:12 USD/CNH: Any decline is unlikely to reach the major support at 7.2430 – UOB Group
Scope for US Dollar (USD) to continue to weaken vs Chinese Yuan (CNH); any decline is unlikely to reach the major support at 7.2430.

Scope for US Dollar (USD) to continue to weaken vs Chinese Yuan (CNH); any decline is unlikely to reach the major support at 7.2430. In the longer run, sharp but short-lived price action has resulted in a mixed outlook; USD is likely to trade between 7.2430 and 7.3700 for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. USD is likely to trade between 7.2430 and 7.3700 for now24-HOUR VIEW: "Yesterday, we expected USD to 'trade in a range of 7.3300/7.3900.' Instead of trading in a range, USD plummeted to 7.3000. While there is scope for USD to continue to weaken, oversold conditions suggest any decline is unlikely to reach the major support at 7.2430 (there is another support at 7.2700). On the upside, 7.3400 is a strong resistance level (minor resistance is at 7.3250)." 1-3 WEEKS VIEW: "After the sharp rally in USD to 7.4288, we indicated two days ago (09 Apr, spot at 7.4100) that the 'surge in momentum indicates that USD is likely to continue to rise, and the level to monitor is 7.4500.' Our view was invalidated quickly as USD plunged and broke below our ‘strong support’ level of 7.3100 yesterday. The sharp but short-lived price action has resulted in a mixed outlook. For the time being, USD is likely to trade between 7.2430 and 7.3700."

14:08 Russia exports less oil at lower prices – Commerzbank
The price of Russian ESPO crude fell below $60 per barrel for the first time at the beginning of the week, while the price of Urals fell towards $50 per barrel, the lowest price level since March 2023, according to Reuters, Commerzbank's commodity analyst Carsten Fritsch notes.

The price of Russian ESPO crude fell below $60 per barrel for the first time at the beginning of the week, while the price of Urals fell towards $50 per barrel, the lowest price level since March 2023, according to Reuters, Commerzbank's commodity analyst Carsten Fritsch notes. Weekly oil shipments remain at the previous week's level"This means that the regular transport of Russian oil is possible again without violating international sanctions. At the same time, however, the lower price level also reduces export revenues for the Russian state. The drop in oil prices triggered by US President Trump's tariff policy is therefore hitting Russia at a sensitive point." "Russia has also recently exported less crude oil. According to data from Bloomberg, seaborne exports fell to an average of 3.23 million barrels per day in the four weeks to 6 April, the lowest level since the beginning of March, as a higher weekly figure dropped out of the comparative period." "Weekly oil shipments, on the other hand, remained at the previous week's level, as lower exports via the Baltic Sea ports were offset by higher exports via the Pacific ports."

14:05 USD/JPY: Further USD weakness is not ruled out – UOB Group
While deeply oversold, further USD weakness is not ruled out; next support level is at 142.50. In the longer run, renewed momentum suggests USD is likely to continue to decline; mid-term support levels are at 142.50 and 139.55, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

While deeply oversold, further USD weakness is not ruled out; next support level is at 142.50. In the longer run, renewed momentum suggests USD is likely to continue to decline; mid-term support levels are at 142.50 and 139.55, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. USD is likely to continue to decline24-HOUR VIEW: "Following the volatile price action on Wednesday, we indicated yesterday, 'Thursday that 'after the sharp swings, the outlook is mixed.' We expected USD to 'trade in a range of 145.40/148.50.' Our view of range trading was incorrect, as USD plummeted and closed at 144.45 (-2.21%). It continues to drop in early Asian trade today. While deeply oversold, further weakness is not ruled out. Support levels are at 143.05 and 142.50. On the upside, a breach of 145.15 (minor resistance is at 144.50) would suggest the strong downward pressure has eased." 1-3 WEEKS VIEW: "After holding a negative USD view since early this month (as annotated in the chart below), we pointed out yesterday (10 Apr, spot at 146.70) that 'downward momentum is beginning to ease and a breach of 148.50 would indicate that the weakness in USD has stabilised.' Our caution was unfounded as USD subsequently plunged. Given the renewed momentum, USD is likely to continue to decline. The two mid-term support levels are at 142.50 and 139.55. The latter level is last year’s low. On the upside, the ‘strong resistance’ level has moved lower to 146.30 from 148.50."

14:00 White house pressure threatens US Dollar stability – Commerzbank
Despite the current turbulence in the US dollar, we see short-term recovery potential for the US currency.

Despite the current turbulence in the US dollar, we see short-term recovery potential for the US currency. According to our economists, the backtracking by the US administration reduces the risk of a US recession and thus the need for the Federal Reserve to react to the impact of the tariffs with rapid interest rate cuts, even if the market currently seems to think otherwise, Commerzbank's FX analyst Thu Lan Nguyen notes. Investor confidence in USD is eroding"Our economists expect the first rate cut in September, while the market is pricing in a cut as early as June. However, we now see a higher low for EUR/USD - 1.08 instead of 1.05 - as the US tariff policy will undoubtedly not only leave its mark on the economy, but will also have weakened the US dollar permanently. We therefore expect the US dollar to continue to depreciate in the longer term." "The US government's goal is to eliminate the US trade deficit. In their view, tariffs are one tool to achieve this goal, while a weak US dollar is likely to be another. Trump is therefore unlikely to tolerate any significant appreciation of the US currency. Any appreciation will now come with the risk of intervention by the US president. What's more, if the US trade deficit doesn't fall significantly, actively weakening the US dollar could move up the administration's agenda. The most obvious avenue would be through the Federal Reserve.""Moreover, Trump's erratic tariff policy is likely to have permanently damaged the belief in US exceptionalism and investor confidence in the dollar's safe-haven status. The sometimes significant rise in US yields can be explained by the fact that some investors have left US Treasuries due to a loss of confidence. This also justifies a higher USD risk premium. We therefore raise our EUR-USD forecast for the end of 2026 from 1.10 to 1.15."

13:54 NZD/USD: A move to 0.5855 can be expected – UOB Group
Further NZD strength is not ruled out, but it may not be able to maintain a foothold above 0.5785. In the longer run, upward momentum has increased, but NZD must first close above 0.5785 before a move to 0.5855 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Further NZD strength is not ruled out, but it may not be able to maintain a foothold above 0.5785. In the longer run, upward momentum has increased, but NZD must first close above 0.5785 before a move to 0.5855 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. Upward momentum has increased24-HOUR VIEW: "The following are the excerpts from our update yesterday: 'provided that NZD holds above 0.5580 (minor support at 0.5620), it could test 0.5695 before the risk of a pullback increases. The major resistance at 0.5760 is not expected to come under threat.' We were correct on the first count, but not the second, as NZD surpassed 0.5760 (high of 0.5764). Further NZD strength is not ruled out, but overbought conditions suggest any advance may not be able to maintain a foothold above 0.5785. The major resistance at 0.5855 is unlikely to come into view. Support levels are at 0.5720 and 0.5690." 1-3 WEEKS VIEW: "We revised our view from negative to neutral yesterday (10 Apr, spot at 0.5650), indicating that 'the recent weakness in NZD 'has stabilised, and NZD is likely to consolidate between 0.5540 and 0.5760 for now.' While NZD subsequently rose above 0.5760, the increase in momentum is not enough to indicate a sustained advance, just yet. NZD must first close above 0.5785 before a move to 0.5855 can be expected. The likelihood of NZD closing above 0.5785 will remain intact as long as 0.5660 is not breached."

13:50 US: China’s manufacturing power worries the US – Commerzbank
The US government has once again backtracked and rescinded the counter-tariffs it only introduced the day before yesterday.

The US government has once again backtracked and rescinded the counter-tariffs it only introduced the day before yesterday. What remains now is a 10% tariff on all imports from all countries, with the exception of Canada and Mexico (USMCA-compliant imports remain duty-free), and the automotive and steel/aluminium sectors, which remain subject to a 25% tariff. In addition, China now stands pretty much alone with 145% in addition to what was already in place before Trump's second presidency, Commerzbank's FX analyst Volkmar Baur notes. No lasting trade peace in sight"The fundamental problem remains: geopolitically, the US and China are competing against each other, and in this context, economic security takes precedence over economic cooperation for both countries. Both countries will therefore continue to work on making their economies and, in particular, their strategically important supply chains independent of the other country and try to gain a technological advantage. As a result, there will tend to be more rather than fewer sanctions and trade restrictions.""Four developments in particular remain a thorn in the side of the US. First, China's industrial production (more precisely: manufacturing output) is now larger than that of the next nine countries combined. China's share of global manufacturing output was 35.4 percent in 2020, compared with just 11.8 percent for the US.""All in all, it is likely to be difficult for the US and China to find a common denominator. China will not want to be dictated to by the US on what its industrial policy should look like or how it should rebuild its growth model. Just as the US would not want someone else to tell them what to do. A temporary agreement seems possible. But without a solution to the above-mentioned problems, this would be a temporary solution at best."

13:43 AUD/USD: Likely to strengthen further – UOB Group
Australian Dollar (AUD) is likely to strengthen further, but the major resistance at 0.6290 still seems to be out of reach. In the longer run, for the time being, AUD is expected to trade in a 0.6000/0.6290 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Australian Dollar (AUD) is likely to strengthen further, but the major resistance at 0.6290 still seems to be out of reach. In the longer run, for the time being, AUD is expected to trade in a 0.6000/0.6290 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. AUD is expected to trade in a 0.6000/0.6290 range24-HOUR VIEW: "After AUD surged two days ago, we indicated yesterday that 'while the outsized rally appears overdone, AUD seems to have enough momentum to test 0.6195 before leveling off.' We added, 'the major resistance at 0.6290 is not expected to come into view.' AUD rose more than expected, reaching a high of 0.6250. Strong momentum suggests that instead of leveling off, AUD is likely to strengthen further. That said, the major resistance at 0.6290 still seems to be out of reach. Support levels are at 0.6175 and 0.6150." 1-3 WEEKS VIEW: "Our update from yesterday (10 Apr, spot at 0.6145) remains valid. As highlighted, for the time being, we expect AUD to trade in a 0.6000/0.6290 range. Looking ahead, AUD must break and hold above 0.6290 before a sustained rise can be expected."

13:40 EUR/USD remains well bid around 1.1350 ahead of US PPI
The US Dollar (USD) took another hit at the end of the week, after China retaliated with 125% tariffs on imports of US goods starting as soon as on April 12.

The pair advanced to the vicinity of the 1.1500 hurdle earlier in the day.The Greenback loses further ground and breaks below key contention levels.US Producer Prices will be in the limelight later in the day.Global trade concerns, US stagflation jitters hurt the DollarThe US Dollar (USD) took another hit at the end of the week, after China retaliated with 125% tariffs on imports of US goods starting as soon as on April 12.Indeed, unabated concerns over a more-likely-than-not global trade war in combination with escalating fears that the US economy could face a stagflationary scenario continue to undermine the Greenback, sending the US Dollar Index (DXY) to levels last seen three years ago below the psychological 100.00 level.Against that backdrop, EUR/USD's upside impulse picked up pace and approached the key 1.1500 hurdle during early trade for the first time since February 2022.Earlier in the day, the ECB’s C. Lagarde noted that the central back keeps closely following the developments around the US trade policies and emphasised the bank’s readiness to use all available instruments to procure price stability.Accompanying the sharp uptick in spot, US yields reverse some of Thursday’s gains, while the German 10-year bund yields retreat to multi-day troughs around 2.55%.What’s nextLater on Friday, the focus is expected to remain on US inflation with the release of Producer Prices for the month of March, while the advanced print of US Michigan Consumer Sentiment is also seen gathering attention, particularly its inflation component.The day so farGermany’s final Inflation Rate saw the CPI rise 2.2% in the year to March and 0.3% vs. the previous month.Levels to watchEUR/USD now faces immediate resistance at its 2025 peak at 1.1473 (April 11), seconded by the 2022 high at 1.1498 (February 22).On the flip side, key contention emerges at the 200-day SMA at 1.0742, which reinforces the weekly low at 1.0732 (March 27) and precedes the transitory 55-day and 100-day SMAs at 1.0664 and 1.0555, respectively.Of note, however, is that the pair navigates in the overbought zone, which could spark some near-term technical correction.EUR/USD daily chart

13:40 Euro soars as US Dollar suffers historic drop – Commerzbank
The euro surged to multi-year highs against the dollar as markets reversed optimism from the tariff pause and grew increasingly wary of political and institutional risks in the US.

The euro surged to multi-year highs against the dollar as markets reversed optimism from the tariff pause and grew increasingly wary of political and institutional risks in the US. Concerns over trade uncertainty, Fed independence, and softer inflation data are weighing heavily on the greenback, Commerzbank's FX analyst Volkmar Baur notes. Tariff pause fails to calm structural concerns "After Wednesday's sudden rally, the market went back into risk-off mode yesterday, putting pressure on the US Dollar. The greenback lost almost 2% on a trade-weighted basis, while the euro gained 2.3% against the USD. Since the beginning of the millennium, the US dollar has only declined more than yesterday on six days, while the euro has had its tenth best day against the US currency over the same period. At over 1.13 this morning, the euro is trading stronger against the US dollar than at any time since the beginning of 2022." "First, the positive stock market reaction to Wednesday's announcement of the tariff pause was probably overdone. Yesterday, the market realised that while this means a temporary easing of the situation, nothing has changed structurally. Moreover, the imports that are not affected by a tariff pause are significant. If we take imports from Mexico, Canada and China together, and add in car imports that do not come from these three countries, this alone accounts for almost 50% of US imports. And for China, the tariff rate has been raised again." "And secondly, the Chief Justice of the US Supreme Court, John Roberts, has ruled in favour of the US President for the time being, allowing him to fire the heads of so-called independent agencies. This may not sound particularly interesting for the capital markets until you realise that the Fed also falls into this category. The two cases in question are now likely to be heard by the Supreme Court, increasing the risk that the Fed's independence could be significantly and irreversibly damaged."

13:36 United Kingdom NIESR GDP Estimate (3M): 0.6% (March) vs 0.4%
United Kingdom NIESR GDP Estimate (3M): 0.6% (March) vs 0.4%

13:30 India Manufacturing Output fell from previous 5.5% to 2.9% in February
India Manufacturing Output fell from previous 5.5% to 2.9% in February

13:30 India Cumulative Industrial Output declined to 4.1% in February from previous 4.2%
India Cumulative Industrial Output declined to 4.1% in February from previous 4.2%

13:30 India Industrial Output came in at 2.9% below forecasts (4%) in February
India Industrial Output came in at 2.9% below forecasts (4%) in February

13:22 GBP/USD: Impulsive momentum suggests further GBP strength – UOB Group
Impulsive momentum suggests further GBP strength; it remains to be seen if 1.3100 is within reach today. In the longer run, outlook for GBP has shifted to positive; the two technical levels to watch are 1.3210 and 1.3290, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Impulsive momentum suggests further GBP strength; it remains to be seen if 1.3100 is within reach today. In the longer run, outlook for GBP has shifted to positive; the two technical levels to watch are 1.3210 and 1.3290, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. Technical levels to watch are 1.3210 and 1.329024-HOUR VIEW: "In early Asian trade yesterday, we noted that the previous day’s 'price action still appears to be part of a range-trading phase.' We expected GBP to “trade between 1.2750 and 1.2870.” We did not anticipate the GBP to rally to 1.2996. Impulsive momentum suggests further GBP strength, but it remains to be seen if 1.3100 is within reach today. On the downside, any pullback is expected to face solid support at 1.2880 (minor support at 1.2920)." 1-3 WEEKS VIEW: "Our latest narrative was from Tuesday (08 Apr, spot at 1.2760), wherein 'while GBP could decline further, it is unclear if it can reach the next major support at 1.2580.' We indicated that “a breach of 1.2925 (‘strong resistance’ level) would suggest that GBP is not declining further.” Yesterday, in a sudden move, GBP staged a sharp reversal and surged. The price action has shifted the outlook to positive. The two technical levels to watch are 1.3210 and 1.3290. We will maintain our view as long as 1.2820 (‘strong support’ level) is not breached."

13:13 CHF: Betting on no SNB intervention – ING
The Swiss franc had its biggest one-day rally since 2015 yesterday, emerging as the preferred recipient of safe-haven flows leaving the dollar.

The Swiss franc had its biggest one-day rally since 2015 yesterday, emerging as the preferred recipient of safe-haven flows leaving the dollar. USD/CNH is tentatively rebounding above 0.820 this morning following an acceleration of the drop overnight that saw the 0.814 level being briefly touched, ING's FX analyst Francesco Pesole notes.USD/CHF risks sliding toward 0.800"It appears that the market’s preference for the Swiss franc is mirroring the contained risk that the Swiss National Bank (SNB) will intervene to prevent excessive CHF strength. The reasoning here is that sustained, one-sided FX intervention would raise alarm bells at the US Treasury, which could then officially label Switzerland an FX manipulator and impose harsher tariffs.""On Monday, the SNB publishes sight deposit figures for March. A rise in sight deposits is generally a signal that the Bank is intervening to weaken the franc. That may not be too indicative of what the SNB is doing or is planning to do in April, as March’s CHF gains vs the USD were considerably more contained, and EUR/CHF actually rallied on the back of German fiscal stimulus." "But a market that is clearly minded to over-reward defensive alternatives to the dollar may read stable sight deposits as another reason to stay bullish on CHF. Unless the SNB does intervene to stop the rally or trade-related news turns the tide on the dollar, the risks remain on the downside for USD/CHF, which can test 0.800 before sustainably recovering."

13:09 USDCAD collapses to fresh 2025 lows sub-1.3800
The US Dollar (USD) plummeted during European trading hours on Friday, on news indicating China announced additional tariffs on the United States (US). On Thursday, the White House confirmed tariffs on China of 145%, higher than the 125% previously estimated.

12:59 USD: The new high-beta in town – ING
A mad week for markets is ending with heavy losses for the dollar. The FX scorecard is speaking volumes; in G10, only the illiquid Norwegian krone is flat against the dollar since last Friday.

A mad week for markets is ending with heavy losses for the dollar. The FX scorecard is speaking volumes; in G10, only the illiquid Norwegian krone is flat against the dollar since last Friday. The question of a potential dollar confidence crisis has now been definitively answered – we are experiencing one in full force. Yesterday's cross-asset price action demonstrated a radical shift away from US assets, with both equities and Treasuries declining despite a core CPI reading substantially below expectations, ING's FX analyst Francesco Pesole notes.Markets rotate out of USD safe haven"Clearly, markets have dismissed March inflation as an outdated figure and remain concerned about the combined threat of inflation and growth deceleration. While the 30-year Treasury auction demonstrated unexpected strength yesterday (mirroring Wednesday's robust 10-year auction), the USD swap spread expanded further (10Y now 56bp), and our rates team maintains a bearish Treasury view. We also cannot exclude that the budget resolution passed by the House yesterday, which poses significant funding questions for tax cut extensions, is adding another layer of risk premium to risk assets and Treasuries.""The dollar collapse is working as a barometer of 'sell America' at the moment. The rotation to other traditional safe-havens like CHF, the Japanese yen or even the euro is justified by the loss of USD safe-haven appeal. But the USD drop against high-beta currencies (including the China-sensitive AUD and NZD) is a signal that markets are heavily building positioning for a broad-based dollar decline.""At this stage, picking a bottom in the dollar is as risky as trying to guess Trump’s next move on tariffs. That’s because the dollar is – like Treasuries – currently acting as a risk-sensitive currency, the opposite of a safe haven. This means USD can jump alongside battered equities at any hint of good news on trade, but we suspect that only a substantial reversal of protectionist measures, particularly regarding China, can sustainably fix the damage the dollar has been dealt in the past week. Downside risks to USD remain high, and DXY can easily clear the 100.0 support today."

12:47 China: What will it take to achieve the growth target? – Standard Chartered
The current US tariff rate will drag China’s GDP growth lower by c.1.8ppt. Any further increases in tariffs are likely to have little impact on China’s growth. Another CNY 1.5-2.0tn of fiscal support is needed, supported by moderately loose monetary policy, Standard Chartered's economists report.

The current US tariff rate will drag China’s GDP growth lower by c.1.8ppt. Any further increases in tariffs are likely to have little impact on China’s growth. Another CNY 1.5-2.0tn of fiscal support is needed, supported by moderately loose monetary policy, Standard Chartered's economists report. The perfect storm"Over the past week, the US and China have announced sweeping tariffs in multiple rounds of retaliation. As of now, China’s tariff on US products has jumped to 142%, and the US’ tariff on China has surged to 157%, according to our estimate. As bilateral tariffs are already punitively high, any further increase in tariffs is likely to have a diminishing impact on China’s growth.""We estimate that the current tariff rate will lower China’s GDP growth by about 1.8ppt. While there are further risks to our estimate from a potential global recession and repercussions on domestic employment, consumption and investment, we also see mitigating factors. The US’ 90-day delay in non-China reciprocal tariffs should help keep goods with China-produced content flowing to the US. Further, a moderate depreciation in the CNY could act as a shock absorber. More importantly, China can continue to explore new export destinations while reducing its reliance on overall imports, which should help offset the US tariff impact on its net exports.""China and the US appear to be locked in a high-stakes game, with the near-term prospect of either side backing down before economic pain is inflicted looking dim. We see downside risks to China’s growth but believe that the government will roll out more stimulus to prevent growth from significantly undershooting its 5% growth target. A further CNY 1.5-2.0tn (1.0-1.5% of GDP) of fiscal stimulus is needed, in our view. The Politburo meetings in late April and July will be key events to watch."

12:43 GBP/USD climbs above 1.3100 on persistent USD weakness
After closing the third consecutive day in positive territory on Wednesday, GBP/USD preserves its bullish momentum and rises about 1% on the day at around 1.3100.

12:34 EUR/USD: Likely to rally further – UOB Group
A break above 1.1275 could trigger further rally; the levels to monitor are 1.1350 and 1.1400. In the longer run, Euro (EUR) is likely to rally further; the levels to monitor are 1.1400 and 1.1450, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

A break above 1.1275 could trigger further rally; the levels to monitor are 1.1350 and 1.1400. In the longer run, Euro (EUR) is likely to rally further; the levels to monitor are 1.1400 and 1.1450, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Levels to monitor are 1.1400 and 1.145024-HOUR VIEW: "When EUR was at 1.0950 yesterday, we indicated that 'the sharp decline in EUR has room to test 1.0895 before stabilisation is likely.' We also indicated that 'any further decline is unlikely to reach 1.0850.' We were incorrect, as EUR lifted off and skyrocketed, reaching a high of 1.1241. EUR continues to rise in early Asian trade today. The impulsive rally shows no sign of abating, and today, a break above the 2023 high of 1.1275 could trigger a further rally. The levels to monitor is 1.1350 and 1.1400. On the downside, any pullback is likely to hold above 1.1150 (minor support is at 1.1200)."1-3 WEEKS VIEW: "We have held a positive EUR view since early this month. In our latest narrative from Tuesday (08 Apr, spot at 1.0925), we indicated that 'the decrease in momentum indicates the chance for EUR to rise has diminished.' We added, 'a breach of 1.0850 (‘strong support’ level) would indicate that instead of advancing further, EUR has entered a range-trading phase.' EUR subsequently traded choppily but remained above 1.0850. Yesterday, in a sudden move, it surged by 2.25% (1.1197), marking the largest single-day gain since 2015. At the current level, EUR is not far below the 2023 high of 1.1275. A breach of this level seems likely and could potentially trigger EUR to rally further. The levels to monitor are 1.1400 and 1.1450. On the downside, the ‘strong support’ level has moved higher to 1.1070 from 1.0850."

12:30 Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Friday, according to FXStreet data.

12:29 USD/JPY hits seven-month lows near 142.00 as the sell-off extends
USD/JPY extends its losing momentum into the fourth consecutive day in European trading on Friday, having recorded its lowest level in seven months just above 142.07.

12:18 EUR: 1.15 not unreasonable for a near-term target – ING
The Euro (USD) remains a key recipient of US Dollar (USD) outflows, and is currently trading around 1.125 after major overnight swings that saw it trade as high as 1.138.

The Euro (USD) remains a key recipient of US Dollar (USD) outflows, and is currently trading around 1.125 after major overnight swings that saw it trade as high as 1.138. Alongside its attractiveness as a liquid reserve currency, markets probably remain relatively optimistic that the EU isn’t willing to escalate the trade war with the US for now, ING’s FX analyst Francesco Pesole notes.1.15 is a reasonable near-term target for EUR/USD"It’s important to note that the massive EUR/USD rally is almost entirely a function of the loss of confidence in the dollar, and not at all justified by underlying short-term rate dynamics. The EUR-USD two-year swap rate gap has actually widened in favour of the dollar in the past week, currently standing at 155bp. That level is consistent with EUR/USD trading not far from 1.05." "When adding the relative equity effect and the freshly inverted correlations with equities, we get a short-term fair value of around 1.09, according to our estimates. We must take that with a pinch of salt, as extreme market volatility and unconventional turns in correlations reduce the explanatory power of such models.""That said, EUR/USD is certainly overvalued at these levels, by around 4% in our calculations. But we note that relatively similar conditions in the summer of 2020 led to an overvaluation peak of 6% in EUR/USD. In current terms, that would roughly equal a move to 1.15. Given the high volatility and poor liquidity conditions of the FX market, 1.15 is a reasonable near-term target for EUR/USD unless decisions in Washington rebuild some sort of confidence in the dollar."

12:17 EUR/INR today: Indian Rupee cross rates edge higher at the start of the European session
Indian Rupee (INR) crosses trade on the front foot at the beginning of Friday, according to FXStreet data.

Indian Rupee (INR) crosses trade on the front foot at the beginning of Friday, according to FXStreet data. The Euro (EUR) to the Indian Rupee changes hands at 98.14, with the EUR/INR pair rising from its previous close at 96.55 Meanwhile, the Pound Sterling (GBP) trades at 112.67 against the INR in the early European trading hours, also advancing after the GBP/INR pair settled at 111.94 at the previous close.Category: Forex | Module: Indian Economy.

12:14 USD/CHF slumps to weakest level since September 2011 below 0.8200
After losing nearly 4% on the day on Thursday, USD/CHF continues to push lower on Friday and trades at its weakest level since September 2011 at around 0.8150.

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Swiss Franc PRICE Today The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the Australian Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -1.79% -0.94% -1.33% -0.61% 0.03% -1.30% -0.90% EUR 1.79% 0.83% 0.42% 1.17% 1.84% 0.47% 0.89% GBP 0.94% -0.83% -0.39% 0.36% 1.00% -0.37% 0.05% JPY 1.33% -0.42% 0.39% 0.70% 1.38% 0.08% 0.49% CAD 0.61% -1.17% -0.36% -0.70% 0.64% -0.69% -0.29% AUD -0.03% -1.84% -1.00% -1.38% -0.64% -1.34% -0.92% NZD 1.30% -0.47% 0.37% -0.08% 0.69% 1.34% 0.40% CHF 0.90% -0.89% -0.05% -0.49% 0.29% 0.92% -0.40% 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 Swiss Franc from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CHF (base)/USD (quote). Swiss Franc gathers strength on risk-aversionThe selling pressure surrounding the US Dollar (USD) intensifies in the European session after China announced that they will raise additional tariffs on US imports from 84% to 125% from April 12. Reflecting the broad-based USD weakness, the USD Index was last seen losing 1.3% on the day at 99.55.Following Thursday's sharp appreciation of the Swiss Franc, a spokesperson for the Swiss National Bank refrained from commenting on exchange rates.In the meantime, US stock index futures lose about 0.5% on the day after having gained more than 1% earlier in the session, confirming the negative shift seen in risk mood.In the second half of the day, the US Bureau of Labor Statistics will release the Producer Price Index (PPI) data for March. Additionally, the University of Michigan will publish the preliminary Consumer Sentiment Index data for April.Investors will also pay close attention to headlines surrounding the US-China trade war. Swiss Franc FAQs What key factors drive the Swiss Franc? The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone. Why is the Swiss Franc considered a safe-haven currency? The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in. How do decisions of the Swiss National Bank impact the Swiss Franc? The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF. How does economic data influence the value of the Swiss Franc? Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate. How does the Eurozone monetary policy affect the Swiss Franc? As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.

11:43 ECB's Villeroy: Trump's economic and financial agenda is the wrong path
European Central Bank (ECB) policymaker and Bank of France head Francois Villeroy de Galhau said on Friday that US President Donald “Trump's economic and financial agenda is the wrong path.”

European Central Bank (ECB) policymaker and Bank of France head Francois Villeroy de Galhau said on Friday that US President Donald “Trump's economic and financial agenda is the wrong path.”Additional quotesThe EU mustn't follow Trump on financial regulation.Deregulation would sow seeds of financial crises.

11:29 Palladium price today: Rare metals advance at the start of the European session
Platinum Group Metals (PGMs) trade with a positive tone at the beginning of Friday, according to FXStreet data. Palladium (XPD) changes hands at $923.74 a troy ounce, with the XPD/USD pair advancing from its previous close at $918.60.

Platinum Group Metals (PGMs) trade with a positive tone at the beginning of Friday, according to FXStreet data. Palladium (XPD) changes hands at $923.74 a troy ounce, with the XPD/USD pair advancing from its previous close at $918.60. In the meantime, Platinum (XPT) trades at $948.50 against the United States Dollar (USD) early in the European session, also up after the XPT/USD pair settled at $936.85 at the previous close.
Category: Commodities | Module: Palladium.

11:13 Breaking: China raises additional tariffs on US goods to 125% from 84%
China's Finance Ministry announced on Friday that they will raise additional tariffs on US imports from 84% to 125%, per Reuters, from April 12.

10:56 Forex Today: US Dollar slumps to multi-year lows, Gold rallies to new record-high
Here is what you need to know on Friday, April 11:

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March Producer Price Index (PPI) data will be featured in the US economic calendar and the University of Michigan will publish the Consumer Sentiment Index data for April. US Dollar PRICE This week The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the weakest against the Swiss Franc. USD EUR GBP JPY CAD AUD NZD CHF USD -3.40% -1.34% -1.76% -2.52% -2.93% -3.67% -4.39% EUR 3.40% 2.42% 2.35% 1.54% 0.42% 0.34% -0.41% GBP 1.34% -2.42% -1.36% -0.85% -1.95% -2.03% -2.76% JPY 1.76% -2.35% 1.36% -0.75% -0.26% -0.74% -2.36% CAD 2.52% -1.54% 0.85% 0.75% -0.77% -1.18% -2.19% AUD 2.93% -0.42% 1.95% 0.26% 0.77% -0.08% -0.84% NZD 3.67% -0.34% 2.03% 0.74% 1.18% 0.08% -0.76% CHF 4.39% 0.41% 2.76% 2.36% 2.19% 0.84% 0.76% 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 US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote). Growing fears over a deepening US-China trade conflict tipping the US economy into a recession and the intense US Treasury bond selloff weighed heavily on the USD in the second half of the week. After losing nearly 2% on Thursday, the USD Index extended its slide to 99.70 during the Asian trading hours. Following a short-lasting recovery attempt in the early European session, the index turned south and was last seen losing more than 1% on the day at 99.80. Reuters reported early Friday that US President Donald Trump is likely to retaliate on trade if Mexico doesn't deliver water to the United States (US). Meanwhile, major equity indexes failed to gain traction despite the US' decision to pause reciprocal tariffs for 90 days and registered large losses on Thursday. Early Friday, US stock index futures trade in positive territory as overall market volatility remains high.Gold continued to capitalize on safe-haven flows and gained 3% on Thursday. XAU/USD extended its rally early Friday and reached a fresh record-high above $3,200. USD/JPY fell more than 2% on Thursday and continued to push lower on Friday. At the time of press, the pair was down 1% on the day at 143.00. Japan’s Finance Minister Shunichi Kato said early Friday that foreign exchange rates should be set by markets, reiterating that excess FX volatility negatively impacts the Japanese economy.USD/CHF lost nearly 4% on Thursday and registered its lowest daily close since September 2011. A spokesperson for the Swiss National Bank said on Friday that they won't comment on the valuation of the Swiss Franc.EUR/USD preserves its bullish momentum following Thursday's upsurge and trades at its highest level since March 2022 above 1.1300 in the European session on Friday. European Central Bank (ECB) President Christine Lagarde will be delivering a speech later in the session.GBP/USD extends its uptrend into a fourth consecutive day on Friday and trades above 1.3060.After gaining more than 3% on Wednesday, AUD/USD rose about 1% on Thursday. The pair struggles to push higher despite the broad-based selling pressure surrounding the USD and trades below 0.6250 in the European session on Friday. US-China Trade War FAQs What does “trade war” mean? Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living. What is the US-China trade war? An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies. Trade war 2.0 The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.

10:44 EUR/USD extends gains as EU suspends retaliatory tariffs on US goods
The EUR/USD pair remains firm near 1.1350 after retreating from 1.1385, the highest since February 2022, during the early European trading hours on Friday.

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Euro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro 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 then its currency will gain in value 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.

10:32 Crude oil price today: WTI price bullish at European opening
West Texas Intermediate (WTI) Oil price advances on Friday, early in the European session.

West Texas Intermediate (WTI) Oil price advances on Friday, early in the European session. WTI trades at $60.14 per barrel, up from Thursday’s close at $59.85. Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $63.22 price posted on Thursday, and trading at $63.57. Category: Commodities – Module: WTI Oil.

10:31 Gold price hovers near all-time highs due to increased safe-haven demand
Gold price (XAU/USD) continues to climb for the fourth straight session, hovering near a fresh all-time high of $3,220 per troy ounce, reached on Friday. The precious metal is gaining momentum as a weaker US Dollar makes it more affordable for foreign currency holders.

.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}}Gold price gains traction as a weakening US Dollar makes the metal more accessible to foreign currency holders.The non-yielding Gold rises as softer US inflation data has strengthened expectations of Fed rate cuts as early as June.The US Dollar continues to decline, weighed down by ongoing concerns over both global and domestic economic prospects.Gold price (XAU/USD) continues to climb for the fourth straight session, hovering near a fresh all-time high of $3,220 per troy ounce, reached on Friday. The precious metal is gaining momentum as a weaker US Dollar makes it more affordable for foreign currency holders.Investor demand for safe-haven assets like Gold has also surged amid rising US-China trade tensions. On Thursday, the US sharply increased tariffs on Chinese imports, imposing a new 125% levy on top of an existing 20% duty—raising the total to 145%. This aggressive move overshadowed President Donald Trump’s 90-day delay on higher tariffs for other countries, heightening fears of broader economic repercussions.Further supporting Gold's rally, softer-than-expected US inflation data for March has fueled speculation about potential Federal Reserve rate cuts starting as early as June. Markets are now pricing in the possibility of up to a full percentage point in rate reductions by year-end. The US Consumer Price Index (CPI) showed headline inflation easing to 2.4% year-over-year—below the forecast of 2.6% and down from February's 2.8%. Core CPI, which excludes food and energy, rose by just 2.8%, also under expectations. On a monthly basis, headline CPI dipped 0.1%, while core CPI edged up 0.1%.Daily Digest Market Movers: Gold price rises as US Dollar struggles amid economic concernsThe US Dollar Index (DXY), which measures the US Dollar against a basket of six major currencies, is trading lower at around 100.20 at the time of writing. The DXY continues to slide amid persistent concerns surrounding both the global and US economic outlooks. Investors are now turning their attention to the upcoming release of the US March Producer Price Index (PPI) and the preliminary Michigan Consumer Sentiment data, both due later on Friday.In a move aimed at easing trade tensions, President Trump on Wednesday announced a 90-day pause on new tariffs for most US trade partners, lowering rates to 10% to create space for continued negotiations. “The 90-day pause is an encouraging sign that negotiations with most countries have been productive,” said Mark Hackett of Nationwide. “It also injects some much-needed stability into a market rattled by uncertainty.”Minutes from the latest Federal Open Market Committee (FOMC) Meeting suggested that policymakers are nearly unanimous in recognizing the dual challenge of rising inflation and slowing growth, cautioning that the Federal Reserve faces “difficult tradeoffs” in the months ahead.China’s CPI declined 0.1% year-over-year in March, following a 0.7% drop in February and falling short of expectations for a 0.1% increase. Monthly, CPI dropped 0.4%, worse than the previous month’s 0.2% decline and the forecasted figure. China’s PPI also contracted more sharply than expected, falling 2.5% annually in March versus a 2.2% drop in February and a projected 2.3% decline.US President Donald Trump announced a 90-day pause on new tariff hikes for most US trade partners. While tariffs on China were still raised, the broader easing of trade tensions helped calm global economic fears, improving market sentiment and limiting the upside of the XAU/USD pair.The latest Federal Open Market Committee (FOMC) minutes suggested broad concern among policymakers over the challenge of balancing inflation risks with slowing economic growth. Dallas Fed President Lorie Logan warned that unexpected trade measures could spur job losses and inflation, potentially forcing the Fed into a defensive stance. Weekly jobless claims also ticked up slightly to 223,000.Gold price tests ascending channel’s upper boundary above $3,200Gold price is trading near $3,210 on Friday, with daily chart indicators showing a persistent bullish bias as the pair tests to break above the upper boundary of an ascending channel pattern. However, the 14-day Relative Strength Index (RSI) maintains its position slightly below the 70 mark, suggesting a downward correction as soon as possible.On the upside, the Gold price may explore the region around the psychological level of $3,300 level.Gold price may find support at the nine-day EMA at $3,102. A break below this level could weaken the short-term price momentum and lead the put the downward pressure on the XAU/USD pair to test the lower boundary of the ascending channel at the $3,000 level.XAU/USD: Daily Chart 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.

10:00 Spain Consumer Price Index (MoM) meets forecasts (0.1%) in March
Spain Consumer Price Index (MoM) meets forecasts (0.1%) in March

10:00 Spain Consumer Price Index (YoY) meets forecasts (2.3%) in March
Spain Consumer Price Index (YoY) meets forecasts (2.3%) in March

10:00 Spain Harmonized Index of Consumer Prices (MoM) meets forecasts (0.7%) in March
Spain Harmonized Index of Consumer Prices (MoM) meets forecasts (0.7%) in March

10:00 Spain Harmonized Index of Consumer Prices (YoY) in line with forecasts (2.2%) in March
Spain Harmonized Index of Consumer Prices (YoY) in line with forecasts (2.2%) in March

09:47 China’s President Xi: There is no winner in a tariff war
Following his meeting with Spanish Prime Minister Pedro Sanchez on Friday, Chinese President Xi Jinping said that “there is no winner in a tariff war.”

09:09 India Gold price today: Gold keeps rallying on increased haven demand
The buying interest around Gold price in India remains unabated on Friday as Comex Gold (XAU/USD) price hangs close to record highs of $3,220.

09:08 US Dollar Index Price Forecast: Hovers near descending channel’s lower boundary at 100.50
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, continues its decline for the second consecutive session, hovering around 100.40 during Friday’s Asian trading hours.

The US Dollar Index may continue to weaken amid a sustained bearish trend, currently testing the descending channel’s lower boundary.The 14-day RSI remains below 30, indicating the possibility of an imminent corrective rebound.Immediate support is located at the psychological level of 100.00, followed by 99.76 — the lowest level recorded since April 2022.The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, continues its decline for the second consecutive session, hovering around 100.40 during Friday’s Asian trading hours. The technical analysis of the daily chart suggests a sustained bearish trend, with the index testing the lower boundary of a prevailing descending channel.Despite the downward pressure, the 14-day Relative Strength Index (RSI) remains below 30, signaling the potential for an imminent upward correction. Furthermore, the DXY is trading well below its nine-day Exponential Moving Average (EMA), indicating weak short-term momentum.On the downside, immediate support is seen at the psychological level of 100.00, followed by 99.76 — the lowest level since April 2022. Additional support lies near the 99.00 mark.To the upside, a move toward the nine-day EMA at 102.34 could be on the cards. A decisive break above this level may enhance short-term bullish momentum and pave the way for a test of the key resistance zone near the upper boundary of the descending channel at the monthly high of 104.37, followed by 104.59.US Dollar Index: Daily Chart

09:03 United Kingdom Total Trade Balance dipped from previous £-0.59B to £-1.956B in February
United Kingdom Total Trade Balance dipped from previous £-0.59B to £-1.956B in February

09:02 United Kingdom Manufacturing Production (MoM) came in at 2.2%, above forecasts (0.2%) in February
United Kingdom Manufacturing Production (MoM) came in at 2.2%, above forecasts (0.2%) in February

09:01 Germany Consumer Price Index (YoY) in line with expectations (2.2%) in March
Germany Consumer Price Index (YoY) in line with expectations (2.2%) in March

09:01 UK GDP rebounds 0.5% MoM in February vs. 0.1% expected
The UK economy expanded in February, with the Gross Domestic Product (GDP) rebounding 0.5% after recording no growth in January, the latest data published by the Office for National Statistics (ONS) showed on Friday. The market forecast was for a 0.1% growth in the reported period.

UK GDP expanded 0.5% MoM in February, beating estimates.GBP/USD keeps range near 1.3000 after the UK economic data.The UK economy expanded in February, with the Gross Domestic Product (GDP) rebounding 0.5% after recording no growth in January, the latest data published by the Office for National Statistics (ONS) showed on Friday. The market forecast was for a 0.1% growth in the reported period.Meanwhile, the Index of services (February) came in at 0.6% 3M/3M versus January’s 0.4%.Other data from the UK showed that monthly Industrial and Manufacturing Production jumped by 1.5% and 2.2%, respectively, in February. Both readings better market expectations.Market reaction to the UK dataThe upbeat UK economic data failed to inspire the Pound Sterling. At the press time, GBP/USD is trading 0.20% higher on the day near 1.3000.

09:01 Germany Harmonized Index of Consumer Prices (YoY) meets expectations (2.3%) in March
Germany Harmonized Index of Consumer Prices (YoY) meets expectations (2.3%) in March

09:01 United Kingdom Index of Services (3M/3M) above expectations (0.5%) in February: Actual (0.6%)
United Kingdom Index of Services (3M/3M) above expectations (0.5%) in February: Actual (0.6%)

09:01 United Kingdom Trade Balance; non-EU fell from previous £-7.074B to £-8.578B in February
United Kingdom Trade Balance; non-EU fell from previous £-7.074B to £-8.578B in February

09:01 United Kingdom Industrial Production (MoM) above forecasts (0%) in February: Actual (1.5%)
United Kingdom Industrial Production (MoM) above forecasts (0%) in February: Actual (1.5%)

09:00 United Kingdom Manufacturing Production (YoY) above forecasts (-2.4%) in February: Actual (0.3%)
United Kingdom Manufacturing Production (YoY) above forecasts (-2.4%) in February: Actual (0.3%)

09:00 United Kingdom Goods Trade Balance below forecasts (£-17.6B) in February: Actual (£-20.809B)
United Kingdom Goods Trade Balance below forecasts (£-17.6B) in February: Actual (£-20.809B)

09:00 United Kingdom Gross Domestic Product (MoM) above expectations (0.1%) in February: Actual (0.5%)
United Kingdom Gross Domestic Product (MoM) above expectations (0.1%) in February: Actual (0.5%)

09:00 Germany Harmonized Index of Consumer Prices (MoM) in line with expectations (0.4%) in March
Germany Harmonized Index of Consumer Prices (MoM) in line with expectations (0.4%) in March

09:00 Germany Consumer Price Index (MoM) meets expectations (0.3%) in March
Germany Consumer Price Index (MoM) meets expectations (0.3%) in March

09:00 United Kingdom Industrial Production (YoY) above forecasts (-2.3%) in February: Actual (0.1%)
United Kingdom Industrial Production (YoY) above forecasts (-2.3%) in February: Actual (0.1%)

08:53 USD/CAD Price Forecast: Outlook remains bearish below 1.4000
The USD/CAD pair remains weak near 1.3965 during the early European session on Friday. The Greenback edges lower against the Canadian Dollar (CAD) amid persistent concerns over the global and US economies.

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Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive. How does the price of Oil impact the Canadian Dollar? The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD. How does inflation data impact the value of the Canadian Dollar? While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. How does economic data influence the value of the Canadian Dollar? Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.

08:41 FX option expiries for Apr 11 NY cut
FX option expiries for Apr 11 NY cut at 10:00 Eastern Time via DTCC can be found below.

FX option expiries for Apr 11 NY cut at 10:00 Eastern Time via DTCC can be found below.EUR/USD: EUR amounts1.0900 1.7b1.0950 1.3b1.1000 3.8b1.1665 540mGBP/USD: GBP amounts 1.2850 808mUSD/JPY: USD amounts 145.00 701m145.95 905m149.00 557mAUD/USD: AUD amounts0.6100 1.2b0.6155 761m0.6300 699mUSD/CAD: USD amounts 1.3935 600m1.4045 2.4b1.4275 515m

08:03 NZD/USD holds positive ground above 0.5750 amid US-China trade war worries
The NZD/USD pair holds positive ground near 0.5770 after reaching the daily high of 0.5800 during the Asian trading hours on Friday. The uptick of the pair is bolstered by broad US Dollar (USD) weakness amid persistent economic concerns due to escalating tariff tensions.

07:48 Silver Price Forecast: XAG/USD maintains position near $31.50 due to rising trade tensions
Silver (XAG/USD) continues its winning streak for the third straight session, trading around $31.30 during Friday’s Asian session. The precious metal is gaining traction as the US Dollar weakens, with the US Dollar Index (DXY) dipping to around 100.20 at the time of writing.

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The precious metal is gaining traction as the US Dollar weakens, with the US Dollar Index (DXY) dipping to around 100.20 at the time of writing.Investor demand for safe-haven assets like Silver is also being fueled by escalating US-China trade tensions. On Thursday, the US announced a sharp increase in tariffs on Chinese imports—raising them to 145% with a new 125% levy on top of an existing 20% duty. This move overshadowed US President Donald Trump’s 90-day pause on higher tariffs for other countries, intensifying concerns over potential economic fallout from the US-China standoff.Adding to Silver’s appeal, US inflation data came in softer than expected. March’s Consumer Price Index (CPI) showed headline inflation falling to 2.4% year-over-year—below the expected 2.6% and down from 2.8% in February. Core CPI, excluding food and energy, rose just 2.8%, also below estimates. On a monthly basis, headline CPI declined 0.1%, while core CPI inched up 0.1%. This has led markets to price in potential Fed rate cuts starting in June, with the possibility of a full percentage point reduction by year-end.Meanwhile, the latest Federal Open Market Committee (FOMC) minutes suggested broad concern among policymakers over the challenge of balancing inflation risks with slowing economic growth. Dallas Fed President Lorie Logan warned that unexpected trade measures could spur job losses and inflation, potentially forcing the Fed into a defensive stance. Weekly jobless claims also ticked up slightly to 223,000. Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices. How does industrial demand affect Silver prices? Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices. How do Silver prices react to Gold’s moves? Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.

06:59 EUR/USD appreciates to near 1.1350 as the EU suspends tariffs on US imports
EUR/USD extends its gains for the second successive day, trading near 1.1350 during Friday’s Asian session. The Euro (EUR) strengthened after the European Union (EU) announced a 90-day pause on new 25% tariffs on the United States (US), aiming to create space for trade negotiations.

.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}}EUR/USD gains momentum after the European Union (EU) announced a 90-day suspension of new 25% tariffs on US imports. Traders are now pricing in a deposit facility rate of 1.8% by December, up from 1.9% the previous week.The US Consumer Price Index rose by 2.4% YoY in March, down from 2.8% in February.EUR/USD extends its gains for the second successive day, trading near 1.1350 during Friday’s Asian session. The Euro (EUR) strengthened after the European Union (EU) announced a 90-day pause on new 25% tariffs on the United States (US), aiming to create space for trade negotiations.A sudden policy reversal by the White House on Wednesday now means the EU will face a 10% duty on exports to the US until July—rather than the 20% "reciprocal tariff" that was briefly implemented. However, Trump’s 25% tariffs on steel, aluminum, and cars remain in effect.Traders adjusted their expectations for European Central Bank (ECB) rate cuts. Investors are now pricing in a deposit facility rate of 1.8% by December, up from 1.65% on Wednesday and 1.9% the week prior. The likelihood of an April rate cut also declined to 90%, down from a full probability just a day earlier.The EUR/USD pair continues to strengthen as the US Dollar loses ground amid lingering concerns over both the global and US economies. The US Dollar Index (DXY), which tracks the USD against a basket of six major currencies, has slipped to around 100.20 at the time of writing.Additionally, the US Dollar faces headwinds due to a surprise drop in US consumer prices for March, shifting investor focus to upcoming key data releases — the March Producer Price Index (PPI) and preliminary Michigan Consumer Sentiment, both due later today.March’s US Consumer Price Index (CPI) showed headline inflation easing to 2.4% year-over-year, down from 2.8% in February and below expectations of 2.6%. Core CPI, which excludes volatile food and energy prices, rose 2.8%, down from 3.1% and missing the 3.0% forecast. Monthly, headline CPI fell 0.1%, while core CPI edged up 0.1%. Euro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro 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 then its currency will gain in value 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.

06:32 US Commerce Secretary Lutnick: Committed to exploding the economy
US Commerce Secretary Howard Lutnick took to the social media platform X to say that “the Golden Age is coming. We are committed to protecting our interest, engaging in global negotiations and exploding our economy.”

.fxs-related-module-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-related-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-related-module-related-link a{font-size:19.2px;line-height:25.92px}.fxs-related-module-related-link a{text-decoration:none;color:#1b1c23;font-weight:700;font-size:16px;font-style:normal;line-height:20px}.fxs-related-module-related-link a:hover,.fxs-related-module-related-link:hover,.fxs-related-module-related-link:hover a{color:#e4871b}.fxs-related-module-related-link a:hover{text-decoration:none}@media (min-width:680px){.fxs-related-module-title{font-size:19.2px;line-height:27.2px}.fxs-related-module-related-link a{font-size:19.2px;line-height:25.92px}} US Commerce Secretary Howard Lutnick took to the social media platform X to say that “the Golden Age is coming. We are committed to protecting our interest, engaging in global negotiations and exploding our economy.”Market reactionThe US Dollar Index loses 1% on the day to trade near 100.00, as of writing, unable to get any inspiration from the above comments.
Related news Gold Price Forecast: XAU/USD record rally appears unabated on trade and Fed jitters US President Donald Trump warns tariffs, sanctions on Mexico over water treaty - Reuters US Dollar losses further ground as tensions with China rise

06:26 GBP/USD rises to near 1.3050 as US Dollar remains tepid ahead of PPI data
GBP/USD is on track for its fourth consecutive daily gain, trading near 1.3030 during Friday’s Asian session. The pair continues to strengthen as the US Dollar loses ground amid lingering concerns over both the global and US economies.

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The pair continues to strengthen as the US Dollar loses ground amid lingering concerns over both the global and US economies.The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, has slipped to around 100.20 at the time of writing. The DXY's decline follows a surprise drop in US consumer prices for March, shifting investor focus to upcoming key data releases — the March Producer Price Index (PPI) and preliminary Michigan Consumer Sentiment, both due later today.March’s US Consumer Price Index (CPI) showed headline inflation easing to 2.4% year-over-year, down from 2.8% in February and below expectations of 2.6%. Core CPI, which excludes volatile food and energy prices, rose 2.8%, down from 3.1% and missing the 3.0% forecast. On a monthly basis, headline CPI fell 0.1%, while core CPI edged up 0.1%.US President Donald Trump announced a 90-day pause on new tariff hikes for most US trade partners. While tariffs on China were still raised, the broader easing of trade tensions helped calm global economic fears, improving market sentiment and supporting the risk-sensitive British Pound.With risk appetite improving, traders have scaled back their expectations for aggressive rate cuts by the Bank of England BoE). Markets now anticipate three quarter-point cuts by year-end, in line with earlier BoE guidance for a gradual, quarterly easing cycle. A May rate cut remains highly likely, with additional moves expected in August and November. 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, also known as ‘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.

06:15 USD/INR weakens amid escalating trade war tensions
The Indian Rupee (INR) strengthens on Friday. US President Donald Trump's move to temporarily lower tariffs on many countries provides some support to the local currency.

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Softer US Dollar and falling oil prices underpin the INR. The US March PPI and the advanced Michigan Consumer Sentiment data will be the highlights later on Friday. The Indian Rupee (INR) strengthens on Friday. US President Donald Trump's move to temporarily lower tariffs on many countries provides some support to the local currency. Additionally, a decline in crude oil prices contributes to the INR’s upside as India is the world's third-largest oil consumer, and lower crude oil prices tend to have a positive impact on the Indian currency value.However, reduced Federal Reserve (Fed) rate cut bets could strengthen the US Dollar (USD). Investors anticipate the US central bank will resume cutting interest rates in June and probably reduce its policy rate by a full percentage point by the end of the year.India’s Industrial Output and Manufacturing Output data are due later on Friday. On the US docket, the Producer Price Index (PPI) for March and the advanced Michigan Consumer Sentiment will be published. Also, the Fed’s Alberto Musalem and John Williams are set to speak. Indian Rupee rebounds amid a weaker US DollarThe Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) unanimously voted to cut the policy Repo Rate by 25 basis points (bps) to 6.00% at its April meeting on Wednesday.US President Donald Trump let stand a 10% blanket levy on all imports announced last week and set a 90-day pause on additional US tariffs during which the White House will negotiate the higher tariffs. The US Consumer Price Index (CPI) inflation declined to 2.4% YoY in March from 2.8% in February, according to the US Bureau of Labor Statistics (BLS) on Thursday. This reading came in below the market consensus of 2.6%. The core CPI, which excludes volatile food and energy prices, increased 2.8% YoY in March versus 3.1% prior and came in below the estimation of 3.0%. On a monthly basis, the headline CPI declined 0.1%, while the core CPI rose 0.1%.Boston Fed President Susan Collins said Thursday that large trade tariffs now being pursued by the Trump administration will almost certainly drive inflation higher and depress growth in the near term. Collins sees steady monetary policy amid uncertainty. Chicago Fed President Austan Goolsbee highlighted high levels of uncertainty amid very aggressive trade tariffs and argued for a wait-and-see approach to monetary policy. Goolsbee added that if the economy gets back on track, rate cuts would still be possible. USD/INR maintains a bullish bias, consolidation is likely in the near termThe Indian Rupee trades firmer on the day. The uptrend of the USD/INR pair remains intact, with the price being above the key 100-day Exponential Moving Average (EMA). Nonetheless, the 14-day Relative Strength Index (RSI) hovers around the midline. This suggests that further consolidation cannot be ruled out in the near term. The first upside barrier for USD/INR emerges at 86.61, the high of April 10. Extended gains could see a rally to the 87.00 psychological level. A decisive break above the mentioned level could pave the way to 87.53, the high of February 28.In the bearish event, the key support level for the pair is located in the 86.00-85.90 zone, representing the 100-day EMA and round figure. The next contention level to watch is 85.48, the low of March 24, followed by 85.00. 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.

05:33 WTI falls below $59.50 due to escalating US-China tensions, OPEC+ supply boost
West Texas Intermediate (WTI) crude oil price fell for a second straight session, trading around $59.30 per barrel during Asian hours on Friday. The decline comes amid rising US-China trade tensions, which are clouding the demand outlook.

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The decline comes amid rising US-China trade tensions, which are clouding the demand outlook.On Thursday, the US announced that tariffs on Chinese imports had surged to 145%, with a new 125% levy added on top of an existing 20% duty. This move overshadowed US President Donald Trump's 90-day pause on tariff hikes for most other countries and heightened concerns about fuel demand from China, the world's largest Oil importer.A prolonged US-China trade dispute threatens to dampen global trade, disrupt supply chains, and slow economic growth—developments that would also curb Oil consumption in both nations, which are the world’s top energy consumers.The US Energy Information Administration (EIA) cut its global economic growth and Oil demand forecasts, warning that tariffs could significantly impact Oil prices. The agency now expects global Oil demand to grow by just 900,000 barrels per day (bpd) this year, down from its previous forecast of 1.2 million bpd, reaching about 103.6 million bpd. For 2026, demand growth is now estimated at 1 million bpd, also below prior expectations.The EIA also revised down its oil price outlook for this year and next, citing increased uncertainty from weaker global growth and a potential rise in supply. Further weighing on prices, the OPEC+ alliance, including Russia, plans to raise output by 411,000 bpd in May, fueling concerns of a market surplus.Meanwhile, the Trump administration imposed new sanctions on Iranian Oil networks, including a China-based storage facility, just days ahead of planned US-Iran talks. At the same time, the Keystone pipeline remains shut following a spill in North Dakota, with no timeline for reopening—posing additional supply risks. WTI Oil FAQs What is WTI Oil? WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media. What factors drive the price of WTI Oil? Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa. How does inventory data impact the price of WTI Oil The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency. How does OPEC influence the price of WTI Oil? OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.

05:32 PBOC: Discussed impact of US tariffs in the ASEAN meeting
The People’s Bank of China (PBOC) released a statement on Friday, citing that China's deputy central bank governor attended the ASEAN and China, Japan and South Korea finance and central bank deputies meeting on April 8 and 9.

04:48 USD/JPY tumbles to near 143.50 amid tariff worries
The USD/JPY pair extends its downside to around 143.55 during the Asian trading hours on Friday, pressured by the weaker US Dollar (USD).

04:41 Australian Dollar extends gains despite increased risk sentiment
The Australian Dollar (AUD) extends its gains for the third successive session against the US Dollar (USD) on Friday. However, the upside of the AUD/USD pair could be restrained as the White House confirmed that the cumulative US tariffs on Chinese goods have risen to 145%.

.fxs-major-currency-prices-wrapper{border:1px solid #dddedf;background:#fff;margin-bottom:32px;width:100%;float:left}.fxs-major-currency-prices-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-major-currency-prices-content{color:#49494f;font-weight:300;padding:0;font-size:14.72px;line-height:20px;margin:8px 16px}table.fxs-major-currency-prices-currency-prices-table{width:100%;text-align:center;border-collapse:collapse;font-size:1rem}table.fxs-major-currency-prices-currency-prices-table th{background-color:#f2f2f2}table.fxs-major-currency-prices-currency-prices-table td{color:#fff}table.fxs-major-currency-prices-currency-prices-table td.green{background-color:#9cd6cd}table.fxs-major-currency-prices-currency-prices-table td.red{background-color:#faafb5}table.fxs-major-currency-prices-currency-prices-table td.blue-grey{background-color:#888a93}.fxs-major-currency-prices-currency-prices-legend{font-size:11px;margin:8px;color:#49494f}@media (min-width:680px){.fxs-major-currency-prices-content{font-size:16px;line-height:21.6px}.fxs-major-currency-prices-title{font-size:19.2px;line-height:27.2px}}.fxs-major-currency-prices-currency-price td.dark-green{background-color:#39ad9a}.fxs-major-currency-prices-currency-price td.light-green{background-color:#9cd6cd}.fxs-major-currency-prices-currency-price td.gray{background-color:#888a93}.fxs-major-currency-prices-currency-price td.light-red{background-color:#faafb5}.fxs-major-currency-prices-currency-price td.strong-red{background-color:#f55e6a} .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 may face headwinds as White House confirmed that US tariffs on Chinese goods have climbed to 145%.The AUD received a boost following reports that Australia is set to restart trade negotiations with the European Union.The US Dollar remains under pressure, weighed down by ongoing concerns about global and domestic economic outlooks.The Australian Dollar (AUD) extends its gains for the third successive session against the US Dollar (USD) on Friday. However, the upside of the AUD/USD pair could be restrained as the White House confirmed that the cumulative US tariffs on Chinese goods have risen to 145%. The announcement heightened tensions in the ongoing trade dispute between the world’s two largest economies, raising concerns for Australia given its strong trade ties with China.The AUD found support on Thursday from reports that Australia is preparing to resume trade negotiations with the European Union (EU). Moreover, The Wall Street Journal reported that China also held talks with EU trade chief Maros Sefcovic, expressing interest in strengthening trade, investment, and industrial cooperation with the bloc.China also raised tariffs on 84% of American imports and added six US firms—including defense and aerospace companies like Shield AI and Sierra Nevada—to its trade blacklist. It also introduced export controls on several American companies, such as American Photonics and BRINC Drones.Australian Dollar appreciates as US Dollar struggles due to persistent economic concernsThe US Dollar Index (DXY), which measures the US Dollar against a basket of six major currencies, is trading lower around 100.30 at the time of writing. The DXY continues to slide amid persistent concerns surrounding both the global and US economic outlooks. Investors are now turning their attention to the upcoming release of the US March Producer Price Index (PPI) and the preliminary Michigan Consumer Sentiment data, both due later on Friday.The US Consumer Price Index (CPI) inflation eased to 2.4% year-over-year in March, down from 2.8% in February and below the market forecast of 2.6%. Core CPI, which excludes food and energy prices, rose 2.8% annually, compared to 3.1% previously and missing the 3.0% estimate. On a monthly basis, headline CPI dipped by 0.1%, while core CPI edged up by 0.1%.In a move aimed at easing trade tensions, President Trump on Wednesday announced a 90-day pause on new tariffs for most US trade partners, lowering rates to 10% to create space for continued negotiations. “The 90-day pause is an encouraging sign that negotiations with most countries have been productive,” said Mark Hackett of Nationwide. “It also injects some much-needed stability into a market rattled by uncertainty.”Minutes from the latest Federal Open Market Committee (FOMC) Meeting suggested that policymakers are nearly unanimous in recognizing the dual challenge of rising inflation and slowing growth, cautioning that the Federal Reserve faces “difficult tradeoffs” in the months ahead.China’s CPI declined 0.1% year-over-year in March, following a 0.7% drop in February and falling short of expectations for a 0.1% increase. Monthly, CPI dropped 0.4%, worse than the previous month’s 0.2% decline and the forecasted figure. China’s PPI also contracted more sharply than expected, falling 2.5% annually in March versus a 2.2% drop in February and a projected 2.3% decline. In Australia, subdued business and consumer sentiment has strengthened expectations of a dovish tilt from the Reserve Bank of Australia (RBA). Markets are now pricing in up to 100 basis points in rate cuts this year, beginning in May, with additional reductions likely in July and August.Technical Analysis: Australian Dollar rises toward 0.6250 near 50-day EMAThe AUD/USD pair is hovering near 0.6230 on Friday, with daily chart indicators showing a slight bullish tilt as the pair trades above the nine-day Exponential Moving Average (EMA). However, the 14-day Relative Strength Index (RSI) remains just below the 50 mark, indicating that bearish pressure hasn’t fully faded.Immediate support is seen at the nine-day EMA, currently at 0.6176. A decisive break below this level could undermine short-term bullish momentum and open the door for a move toward the 0.5914 zone—its lowest point since March 2020—followed by the key psychological support at 0.5900.To the upside, initial resistance is located at the 50-day EMA, around 0.6262. A sustained move above this level could pave the way for a stronger recovery, potentially pushing the AUD/USD pair toward the four-month high of 0.6408.AUD/USD: Daily Chart Australian Dollar PRICE Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.92% -0.31% -0.56% -0.29% -0.14% -0.63% -0.43% EUR 0.92% 0.59% 0.28% 0.60% 0.77% 0.26% 0.47% GBP 0.31% -0.59% -0.26% 0.02% 0.18% -0.35% -0.12% JPY 0.56% -0.28% 0.26% 0.27% 0.46% 0.00% 0.23% CAD 0.29% -0.60% -0.02% -0.27% 0.14% -0.34% -0.13% AUD 0.14% -0.77% -0.18% -0.46% -0.14% -0.50% -0.29% NZD 0.63% -0.26% 0.35% -0.01% 0.34% 0.50% 0.22% CHF 0.43% -0.47% 0.12% -0.23% 0.13% 0.29% -0.22% 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 Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (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.

03:41 USD/CAD extends downside below 1.3950 on weaker US Dollar
The USD/CAD pair extends the decline to around 1.3920 during the early Asian session on Friday. The US Dollar (USD) weakens against the Loonie amid persistent concerns over the global and US economies.

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The economic uncertainty and rising bets of Fed rate cuts drag the US Dollar lower. The US CPI inflation eased to 2.4% in March, softer than expected. The USD/CAD pair extends the decline to around 1.3920 during the early Asian session on Friday. The US Dollar (USD) weakens against the Loonie amid persistent concerns over the global and US economies. Traders brace for the US March Producer Price Index (PPI) and the advanced Michigan Consumer Sentiment, which is due later on Friday. US President Donald Trump let stand a 10% blanket levy on all imports announced last week and set a 90-day pause on additional US tariffs during which the White House will negotiate the higher tariffs. This encouraged investors to reallocate capital back into Canada, supporting the Canadian Dollar (CAD) against the USD. Additionally, the Greenback loses traction as US consumer prices unexpectedly fell in March. The US Consumer Price Index (CPI) inflation declined to 2.4% YoY in March from 2.8% in February, according to the US Bureau of Labor Statistics (BLS) on Thursday. This figure came in below the market consensus of 2.6%. The core CPI, which excludes volatile food and energy prices, increased 2.8% YoY in March versus 3.1% prior and came in below the estimation of 3.0%. On a monthly basis, the headline CPI declined 0.1%, while the core CPI rose 0.1%.Following the data, traders anticipate that the US Federal Reserve (Fed) will resume cutting interest rates in June and probably reduce its policy rate by a full percentage point by the end of the year.Meanwhile, a decline in Crude Oil prices could weigh on the commodity-linked Loonie and help limit the pair’s losses. It’s worth noting that Canada is the largest oil exporter to the US, and lower crude oil prices tend to have a negative impact on the CAD value. Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive. How does the price of Oil impact the Canadian Dollar? The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD. How does inflation data impact the value of the Canadian Dollar? While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. How does economic data influence the value of the Canadian Dollar? Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.

02:58 Japan’s Kato: Excess FX volatility negatively impacts the economy
Japan’s Finance Minister Shunichi Kato said early Friday that foreign exchange rates should be set by markets, adding that excess FX volatility negatively impacts the Japanese economy.

02:51 EC President von der Leyen: EU could tax Big Tech if Trump trade talks fail
European Commission President Ursula von der Leyen said early Friday that the European Union (EU) is ready to use its most powerful trade measures and may impose levies on US digital companies if negotiations with US President Donald Trump fail to end his tariff war against Europe, per Financial Tim

02:51 Japan Money Supply M2+CD (YoY): 0.8% (March) vs previous 1.2%
Japan Money Supply M2+CD (YoY): 0.8% (March) vs previous 1.2%

02:43 EUR/USD surges higher as tariff walk-back eases tensions further
EUR/USD roared into its highest bids in nearly two years on Thursday, breaching and closing above the 1.1200 handle for the first time in 21 months.

.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}}EUR/USD surged over 2.5% on Thursday, hitting a 21-month high.The Trump administration’s cyclical tariff strategy has eased market tensions for now.Key US sentiment figures remain on the docket to round out the trading week.EUR/USD roared into its highest bids in nearly two years on Thursday, breaching and closing above the 1.1200 handle for the first time in 21 months. Market tensions continue to ease following the Trump administration’s last-minute pivot away from its own tariffs, sparking a general softening in US Dollar flows.In March, US Consumer Price Index (CPI) inflation significantly fell short of projections. Core CPI decreased to 2.8% year-over-year, marking a four-year low after remaining above 3.0% for almost eight months. Headline CPI inflation also dropped to 2.4% year-over-year. Investment markets would face severe challenges if tariffs reverse the Federal Reserve's (Fed) years of efforts to control inflation. The week will conclude with the University of Michigan (UoM) Consumer Sentiment Index survey results on Friday. The UoM Consumer Sentiment Index is anticipated to decline once more in April, as consumers struggle under the pressure of the Trump administration’s tariff and trade policies, likely falling to a nearly three-year low of 54.5. Additionally, Consumer Inflation Expectations will be released on Friday, with UoM 1-year and 5-year Consumer Inflation Expectations previously recorded at 5% and 4.1%, respectively.EUR/USD price forecastA sharp increase in bullish momentum pushing Fiber bids higher has left price action strung out in no man’s land. 1.1200 remains a tricky level for Euro bidders to overcome, and intraday traders could be on the lookout for signs of fresh technical weakness to drag the pair back down.Technical oscillators are flashing firm warning signs of overbought conditions, and bidders will have an increasingly difficult time keeping bids on the high side of the 200-day Exponential Moving Average (EMA) near 1.0885.EUR/USD daily chart
Euro FAQs What is the Euro? The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). What is the ECB and how does it impact the Euro? The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. How does inflation data impact the value of the Euro? Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money. How does economic data influence the value of the Euro? Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro 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 then its currency will gain in value 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.

02:39 US President Donald Trump warns tariffs, sanctions on Mexico over water treaty - Reuters
Reuters reported early Friday that US President Donald Trump is likely to retaliate on trade if Mexico doesn't deliver water to the United States.

02:10 Gold Price Forecast: XAU/USD rises to record high near $3,200 on US-China tariff war
The Gold price (XAU/USD) surges to near an all-time high around $3,190 during the early Asian session on Friday. The weakening of the US Dollar (USD) and escalating trade war between the United States (US) and China provide some support to the precious metal, a traditional safe haven asset.

01:54 GBP/USD lurches higher as risk aversion abates
GBP/USD took another bullish step higher on Thursday, bolstered by a broad-base weakening in Greenback demand after US Consumer Price Index (CPI) inflation cooled even faster than expected.

.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}}GBP/USD took a leg higher on Thursday but still remains capped below 1.3000.Tariff tensions have eased for the time being, but market conditions still aren’t great.A reversal in Greenback flows across the board has bolstered the broader market.GBP/USD took another bullish step higher on Thursday, bolstered by a broad-base weakening in Greenback demand after US Consumer Price Index (CPI) inflation cooled even faster than expected. Coupled with a general easing in risk-off flows following the Trump administration’s constant carousel of on-again, off-again tariffs, Greenback strength across the board has been receding, giving Cable an opportunity to rebound from recent losses.US Consumer Price Index (CPI) inflation came in well below expectations in March. Core CPI eased to 2.8% YoY, reaching a four-year low after stubbornly holding above 3.0% for nearly eight months. Headline CPI inflation also eased to 2.4% YoY, and investment markets will be devastated if tariffs undo years’ worth of work by the Federal Reserve (Fed) to bring inflation to heel.This week will wrap up with University of Michigan (UoM) Consumer Sentiment Index survey results on Friday. The UoM Consumer Sentiment Index is expected to contract yet again in April as consumers continue to buckle under the weight of the Trump administration’s tariff and trade “strategy”, and is expected to sink to a nearly three-year low of 54.5. Consumer Inflation Expectations are also on the cards for Friday. UoM 1-year and 5-year Consumer Inflation Expectations last clocked in at 5% and 4.1%, respectively.GBP/USD price forecastA third straight day of gains has pushed Cable into the high side, though the pair remains trapped just below the key 1.3000 price handle. The Pound Sterling rallied 1.3% against the Greenback, and GBP/USD is up nearly 2.2% from the last swing low into the 1.2700 handle.Price action caught a technical bounce off of the 200-day Exponential Moving Average (EMA), but the next immediate challenge for bulls will be an inflection point at the 1.3100 region.GBP/USD daily chart
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, also known as ‘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.

01:30 New Zealand Business NZ PMI dipped from previous 53.9 to 53.2 in March
New Zealand Business NZ PMI dipped from previous 53.9 to 53.2 in March

00:54 AUD/JPY Price Analysis: Bearish momentum continues as pair trades near 90.00 zone ahead of Asia
The AUD/JPY pair extended its downside during Thursday’s session, retreating toward the 90.00 area as bearish sentiment continues to weigh on the pair. Price action is unfolding within a range defined by 88.914 and 91.110, with sellers maintaining control as the session heads into Asia.

AUD/JPY trades near the 90.00 zone after slipping ahead of the Asian sessionBearish momentum reinforced by a sell signal from MACD and downward pressure from key moving averagesSupport rests in the 88.00s, while resistance emerges around the 91.00 area
The AUD/JPY pair extended its downside during Thursday’s session, retreating toward the 90.00 area as bearish sentiment continues to weigh on the pair. Price action is unfolding within a range defined by 88.914 and 91.110, with sellers maintaining control as the session heads into Asia.Technical indicators largely confirm the prevailing downside pressure. The Relative Strength Index (RSI) prints at 40.228, indicating neutral momentum, while the Moving Average Convergence Divergence (MACD) issues a clear sell signal. Complementing this outlook, the 10-period Momentum at -5.120 also flashes a bearish bias, although the Awesome Oscillator remains neutral at -4.170.From a moving averages standpoint, the 20-day SMA at 92.968, the 100-day SMA at 95.969, and the 200-day SMA at 97.994 all point downward, reinforcing the longer-term bearish structure. Shorter-term indicators also follow suit, with the 10-day EMA at 90.990 and 10-day SMA at 91.380 both signaling sell.Daily chart

00:13 Canadian Dollar catches bullish ride on tariff concerns
The Canadian Dollar (CAD) rose to four-year highs against the US Dollar (USD) on Thursday, bolstered by a general weakening in Greenback demand.

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Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive. How does the price of Oil impact the Canadian Dollar? The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD. How does inflation data impact the value of the Canadian Dollar? While inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. How does economic data influence the value of the Canadian Dollar? Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.

00:03 Fed's Collins: Tariffs could push core inflation well above 3% this year
Federal Reserve (Fed) Bank of Boston President Susan Collins joined the ever-growing stream of Fed policymakers standing up and flashing loud warning signs that ongoing uncertainty at the hand of the Trump administration's constantly waffling tariff policy stance will continue to weigh on the Fed's

Federal Reserve (Fed) Bank of Boston President Susan Collins joined the ever-growing stream of Fed policymakers standing up and flashing loud warning signs that ongoing uncertainty at the hand of the Trump administration's constantly waffling tariff policy stance will continue to weigh on the Fed's ability to adjust policy rates.Key highlightsRenewed price pressures could delay rate cuts.

The Fed may yet find space to lower rates this year.

Tariffs could push core inflation well above 3% this year.

Tariffs will drive up inflation, and slow growth levels.

Fed policy choices difficult, beset by trade-offs.

We must keep inflation expectations stable.

Monetary policy needs to be nimble in an uncertain environment.

I expect inflation pressures to wane over the longer run.

High uncertainty is clouding the economic outlook.

Rate policy well positioned, holding steady for now seems best.

Tighter financial conditions may restrain activity.

Fed policy is still positioned to lower inflation pressures.

I see upside inflation risks, and downside growth risks.

Financial markets performing well, continue to be liquid.

Risk warning: Trading is risky. Your capital is at risk. Exinity Limited is regulated by FSC (Mauritius).

Forex News Timeline

23:34 AUD/JPY Price Analysis: Gains capped near key resistance as bearish backdrop persists The AUD/JPY pair posted a mild advance on Friday’s session, moving toward the 90.30 zone after notching a gain of over 0.30%.

23:21 Canadian Dollar gains further ground as market flows continue to reverse The Canadian Dollar (CAD) rose on Friday, jumping two-thirds of a percent against the US Dollar as global market flows continue to reverse out of the safe haven Greenback.

23:11 Argentina Consumer Price Index (MoM): 3.7% (March) vs 2.4% Argentina Consumer Price Index (MoM): 3.7% (March) vs 2.4%

23:09 Eurozone CFTC EUR NC Net Positions remains unchanged at €51.8K Eurozone CFTC EUR NC Net Positions remains unchanged at €51.8K

23:09 United Kingdom CFTC GBP NC Net Positions remains unchanged at £34.6K United Kingdom CFTC GBP NC Net Positions remains unchanged at £34.6K

23:08 United States CFTC Gold NC Net Positions remains at $238.4K United States CFTC Gold NC Net Positions remains at $238.4K

23:08 United States CFTC S&P 500 NC Net Positions remains unchanged at $-19K United States CFTC S&P 500 NC Net Positions remains unchanged at $-19K

23:08 United States CFTC Oil NC Net Positions remains unchanged at 167.7K United States CFTC Oil NC Net Positions remains unchanged at 167.7K

23:08 Japan CFTC JPY NC Net Positions remains at ¥121.8K Japan CFTC JPY NC Net Positions remains at ¥121.8K

23:07 Australia CFTC AUD NC Net Positions: $-75.9K Australia CFTC AUD NC Net Positions: $-75.9K

21:40 Dow Jones Industrial Average gains ground as investors try to shrug off new tariffs from China The Dow Jones Industrial Average (DJIA) caught a late bid on Friday, rising back into the 40,000 major price handle after an early dip on rising tariffs between the US and China.

21:34 US Dollar sinks as confidence plunges and inflation outlook clouds The US Dollar Index (DXY) continued to slide in Friday’s session, falling near the 100 area after setting a new three-year low earlier in the day.

20:49 White House: Tariff rate on China remains at 145% White House press secretary Karoline Leavitt reported that US President Donald Trump was optimistic about securing a trade deal with China, despite the escalating trade war between the two economic giants that had been battering markets.

20:02 United States Baker Hughes US Oil Rig Count dipped from previous 489 to 480 United States Baker Hughes US Oil Rig Count dipped from previous 489 to 480

19:00 Russia Consumer Price Index (MoM) down to 0.65% in March from previous 0.8% Russia Consumer Price Index (MoM) down to 0.65% in March from previous 0.8%

18:21 Fed's Williams: Tariffs will boost inflation to 3.5-4% this year Federal Reserve Bank of New York President John Williams noted on Friday that he overwhelmingly anticipates a general weakening in US economic data as tariffs continue to take root.

17:59 Fed's Musalem : Expect growth this year lower than trend St. Louis Federal Reserve President Alberto Musalem said on Friday that he expects the economic growth this year to be lower than the trend, per Reuters.

17:22 Fed’s Musalem: There is more work to do on inflation St.

17:00 Russia Foreign Trade climbed from previous $7.159B to $10.5B in February Russia Foreign Trade climbed from previous $7.159B to $10.5B in February

17:00 United States UoM 1-year Consumer Inflation Expectations climbed from previous 5 to 6.7 in April United States UoM 1-year Consumer Inflation Expectations climbed from previous 5 to 6.7 in April

17:00 United States Michigan Consumer Expectations Index below expectations (50.8) in April: Actual (47.2) United States Michigan Consumer Expectations Index below expectations (50.8) in April: Actual (47.2)

17:00 United States UoM 5-year Consumer Inflation Expectation increased to 4.4% in April from previous 4.1% United States UoM 5-year Consumer Inflation Expectation increased to 4.4% in April from previous 4.1%

17:00 United States Michigan Consumer Sentiment Index registered at 50.8, below expectations (54.5) in April United States Michigan Consumer Sentiment Index registered at 50.8, below expectations (54.5) in April

16:31 USD safe haven status under pressure – Rabobank The US dollar's role as a global safe haven is being challenged amid rising budget deficits and trade tensions.

16:28 Fed’s Collins: The Fed will need to hold steady for longer During an interview with Yahoo Finance on Friday, Federal Reserve Bank of Boston President Susan Collins noted that even amidst intense pressure, financial markets seem to be weathering the storm.

16:26 GBP advance lags core peers – Scotiabank Pound Sterling (GBP) is firmer on the day but has struggled to keep up with its core G10 peers over the week, Scotiabank's Chief FX Strategist Shaun Osborne notes.

16:23 USD/JPY drops to seven-month lows near 142.00 USD/JPY adds to the pessimism seen in the latter part of the week and recedes to the 142.00 region on Friday, an area last seen in late September.

16:19 CAD grinds higher versus a weaker USD – Scotiabank The Canadian Dollar (CAD) is getting pulled along with the broader sell-off in the USD and is notching up another decent weekly gain—its fourth on the trot and the largest since late 2022.

16:15 USD slide extends to a three-year low – Scotiabank 'Transition problems' with US Tariffs continue. The US Dollar (USD) is getting trashed.

15:30 Germany Current Account n.s.a. increased to €20B in February from previous €11.8B Germany Current Account n.s.a. increased to €20B in February from previous €11.8B

15:30 United States Producer Price Index (YoY) came in at 2.7% below forecasts (3.3%) in March United States Producer Price Index (YoY) came in at 2.7% below forecasts (3.3%) in March

15:30 United States Producer Price Index ex Food & Energy (YoY) below expectations (3.6%) in March: Actual (3.3%) United States Producer Price Index ex Food & Energy (YoY) below expectations (3.6%) in March: Actual (3.3%)

15:30 United States Producer Price Index (MoM) below forecasts (0.2%) in March: Actual (-0.4%) United States Producer Price Index (MoM) below forecasts (0.2%) in March: Actual (-0.4%)

15:30 United States Producer Price Index ex Food & Energy (MoM) below expectations (0.3%) in March: Actual (-0.1%) United States Producer Price Index ex Food & Energy (MoM) below expectations (0.3%) in March: Actual (-0.1%)

15:11 Fed's Kashkari: Not seeing evidence yet that long-run inflation expectations are rising In an interview with CNBC on Friday, Federal Reserve (Fed) Bank of Minneapolis President Neel Kashkari said that their job is to make sure that inflation expectations don't rise, per Reuters.

15:00 Mexico Industrial Output (YoY) came in at -1.3%, above expectations (-3.9%) in February Mexico Industrial Output (YoY) came in at -1.3%, above expectations (-3.9%) in February

15:00 Brazil IPCA Inflation meets forecasts (0.56%) in March Brazil IPCA Inflation meets forecasts (0.56%) in March

14:30 India FX Reserves, USD up to $676.27B in March 31 from previous $665.4B India FX Reserves, USD up to $676.27B in March 31 from previous $665.4B

14:26 Platinum and Palladium hit by tariff conflict, downward revision of price forecasts – Commerzbank The tariff conflict triggered by US President Trump and the resulting increase in risk aversion also put pressure on the Platinum and Palladium prices.

14:21 Gold ETFs post strong inflows in March and the first quarter – Commerzbank The March data on gold ETFs published by the World Gold Council this week showed a continued high buying interest among ETF investors, Commerzbank's commodity analyst Carsten Fritsch notes.

14:19 EIA lowers forecast for global oil demand and US oil production – Commerzbank Oversupply fears push oil price outlook lower

14:16 Large discrepancies between surveys on OPEC production in March – Commerzbank The OPEC production surveys by Reuters and Bloomberg again showed a considerable discrepancy for March, Commerzbank's commodity analyst Carsten Fritsch notes.

14:12 USD/CNH: Any decline is unlikely to reach the major support at 7.2430 – UOB Group Scope for US Dollar (USD) to continue to weaken vs Chinese Yuan (CNH); any decline is unlikely to reach the major support at 7.2430.

14:00 White house pressure threatens US Dollar stability – Commerzbank Despite the current turbulence in the US dollar, we see short-term recovery potential for the US currency.

13:50 US: China’s manufacturing power worries the US – Commerzbank The US government has once again backtracked and rescinded the counter-tariffs it only introduced the day before yesterday.

13:40 EUR/USD remains well bid around 1.1350 ahead of US PPI The US Dollar (USD) took another hit at the end of the week, after China retaliated with 125% tariffs on imports of US goods starting as soon as on April 12.

13:40 Euro soars as US Dollar suffers historic drop – Commerzbank The euro surged to multi-year highs against the dollar as markets reversed optimism from the tariff pause and grew increasingly wary of political and institutional risks in the US.

13:36 United Kingdom NIESR GDP Estimate (3M): 0.6% (March) vs 0.4% United Kingdom NIESR GDP Estimate (3M): 0.6% (March) vs 0.4%

13:30 India Manufacturing Output fell from previous 5.5% to 2.9% in February India Manufacturing Output fell from previous 5.5% to 2.9% in February

13:30 India Cumulative Industrial Output declined to 4.1% in February from previous 4.2% India Cumulative Industrial Output declined to 4.1% in February from previous 4.2%

13:30 India Industrial Output came in at 2.9% below forecasts (4%) in February India Industrial Output came in at 2.9% below forecasts (4%) in February

13:13 CHF: Betting on no SNB intervention – ING The Swiss franc had its biggest one-day rally since 2015 yesterday, emerging as the preferred recipient of safe-haven flows leaving the dollar.

12:59 USD: The new high-beta in town – ING A mad week for markets is ending with heavy losses for the dollar. The FX scorecard is speaking volumes; in G10, only the illiquid Norwegian krone is flat against the dollar since last Friday.

12:43 GBP/USD climbs above 1.3100 on persistent USD weakness After closing the third consecutive day in positive territory on Wednesday, GBP/USD preserves its bullish momentum and rises about 1% on the day at around 1.3100.

12:30 Silver price today: Silver rises, according to FXStreet data Silver prices (XAG/USD) rose on Friday, according to FXStreet data.

12:29 USD/JPY hits seven-month lows near 142.00 as the sell-off extends USD/JPY extends its losing momentum into the fourth consecutive day in European trading on Friday, having recorded its lowest level in seven months just above 142.07.

12:18 EUR: 1.15 not unreasonable for a near-term target – ING The Euro (USD) remains a key recipient of US Dollar (USD) outflows, and is currently trading around 1.125 after major overnight swings that saw it trade as high as 1.138.

12:17 EUR/INR today: Indian Rupee cross rates edge higher at the start of the European session Indian Rupee (INR) crosses trade on the front foot at the beginning of Friday, according to FXStreet data.

12:14 USD/CHF slumps to weakest level since September 2011 below 0.8200 After losing nearly 4% on the day on Thursday, USD/CHF continues to push lower on Friday and trades at its weakest level since September 2011 at around 0.8150.

11:43 ECB's Villeroy: Trump's economic and financial agenda is the wrong path European Central Bank (ECB) policymaker and Bank of France head Francois Villeroy de Galhau said on Friday that US President Donald “Trump's economic and financial agenda is the wrong path.”

11:13 Breaking: China raises additional tariffs on US goods to 125% from 84% China's Finance Ministry announced on Friday that they will raise additional tariffs on US imports from 84% to 125%, per Reuters, from April 12.

10:56 Forex Today: US Dollar slumps to multi-year lows, Gold rallies to new record-high Here is what you need to know on Friday, April 11:

10:44 EUR/USD extends gains as EU suspends retaliatory tariffs on US goods The EUR/USD pair remains firm near 1.1350 after retreating from 1.1385, the highest since February 2022, during the early European trading hours on Friday.

10:32 Crude oil price today: WTI price bullish at European opening West Texas Intermediate (WTI) Oil price advances on Friday, early in the European session.

10:00 Spain Consumer Price Index (MoM) meets forecasts (0.1%) in March Spain Consumer Price Index (MoM) meets forecasts (0.1%) in March

10:00 Spain Consumer Price Index (YoY) meets forecasts (2.3%) in March Spain Consumer Price Index (YoY) meets forecasts (2.3%) in March

10:00 Spain Harmonized Index of Consumer Prices (MoM) meets forecasts (0.7%) in March Spain Harmonized Index of Consumer Prices (MoM) meets forecasts (0.7%) in March

10:00 Spain Harmonized Index of Consumer Prices (YoY) in line with forecasts (2.2%) in March Spain Harmonized Index of Consumer Prices (YoY) in line with forecasts (2.2%) in March

09:47 China’s President Xi: There is no winner in a tariff war Following his meeting with Spanish Prime Minister Pedro Sanchez on Friday, Chinese President Xi Jinping said that “there is no winner in a tariff war.”

09:09 India Gold price today: Gold keeps rallying on increased haven demand The buying interest around Gold price in India remains unabated on Friday as Comex Gold (XAU/USD) price hangs close to record highs of $3,220.

09:03 United Kingdom Total Trade Balance dipped from previous £-0.59B to £-1.956B in February United Kingdom Total Trade Balance dipped from previous £-0.59B to £-1.956B in February

09:02 United Kingdom Manufacturing Production (MoM) came in at 2.2%, above forecasts (0.2%) in February United Kingdom Manufacturing Production (MoM) came in at 2.2%, above forecasts (0.2%) in February

09:01 Germany Consumer Price Index (YoY) in line with expectations (2.2%) in March Germany Consumer Price Index (YoY) in line with expectations (2.2%) in March

09:01 Germany Harmonized Index of Consumer Prices (YoY) meets expectations (2.3%) in March Germany Harmonized Index of Consumer Prices (YoY) meets expectations (2.3%) in March

09:01 United Kingdom Index of Services (3M/3M) above expectations (0.5%) in February: Actual (0.6%) United Kingdom Index of Services (3M/3M) above expectations (0.5%) in February: Actual (0.6%)

09:01 United Kingdom Trade Balance; non-EU fell from previous £-7.074B to £-8.578B in February United Kingdom Trade Balance; non-EU fell from previous £-7.074B to £-8.578B in February

09:01 United Kingdom Industrial Production (MoM) above forecasts (0%) in February: Actual (1.5%) United Kingdom Industrial Production (MoM) above forecasts (0%) in February: Actual (1.5%)

09:00 United Kingdom Manufacturing Production (YoY) above forecasts (-2.4%) in February: Actual (0.3%) United Kingdom Manufacturing Production (YoY) above forecasts (-2.4%) in February: Actual (0.3%)

09:00 United Kingdom Goods Trade Balance below forecasts (£-17.6B) in February: Actual (£-20.809B) United Kingdom Goods Trade Balance below forecasts (£-17.6B) in February: Actual (£-20.809B)