The Euro (EUR) is trading sideways between 1.1530 and 1.1550 against the US Dollar (USD) in a holiday-thinned session, with most markets closed on Good Friday. The pair is on track for a 0.3% weekly appreciation, yet with price action trapped halfway through March’s trading range.
The New Zealand Dollar (NZD) is showing the weakest performance among major currencies in an otherwise calm Good Friday session, with most markets closed on bank holidays.
The British Pound (GBP) trades slightly higher against the US Dollar (USD) on Friday, as modest softness in the Greenback lends some support.
The Australian Dollar’s (AUD) recovery attempt against the US Dollar (USD) has been capped a few pips ahead of the 0.6920 level. The pair has been trimming gains on Friday, returning to the 0.6900 area at the time of writing, with all eyes on the release of the US Nonfarm Payrolls report.
United States Nonfarm Payrolls above forecasts (60K) in March: Actual (178K)
Nonfarm Payrolls (NFP) in the United States (US) increased by 178K in March, according to data released by the US Bureau of Labor Statistics (BLS) on Friday. The figure marks a marked reversal from February’s 133K drop (revised from -92K) and came in well above market expectations for a 60K gain.
The USD/CAD rises some 0.14% on Friday after an outstanding employment report in the US, which nearly tripled economists' projections, according to the US Bureau of Labor Statistics (BLS).
AUD/USD reverses earlier gains on Friday as stronger-than-expected US Nonfarm Payrolls (NFP) data supports the US Dollar (USD), adding modest pressure on the Australian Dollar (AUD), while price action remains subdued amid thin liquidity due to the Good Friday holiday.
USD/JPY trades with a mild downside bias on Friday as lingering intervention fears support the Japanese Yen (JPY), even as the US Dollar (USD) remains firm against its major peers following the upside surprise in US Nonfarm Payrolls (NFP) data.
The GBP/USD extended its losses for the second straight day, down 0.12% after a stellar US Nonfarm Payrolls report, which could refocus the Federal Reserve on battling higher inflation that has remained above target for five years. At the time of writing, the pair trades at 1.3205.
Here is what you need to know on Friday, April 3:
The NZD/USD pair extends the decline to a near four-month low around 0.5710 during the Asian trading hours on Friday. The New Zealand Dollar (NZD) softens against the US Dollar (USD) on the downbeat Chinese economic data and heightened geopolitical tensions in the Middle East.
