EUR/JPY extends its gains for the second successive day, trading around 186.10 during the Asian hours on Friday. The technical analysis of the daily chart indicates the currency cross is trending higher within an ascending channel, signaling a persistent bullish bias.
Indonesia Consumer Confidence down to 122.9 in March from previous 125.2
USD/CAD gains ground after four days of losses, trading around 1.3820 during the Asian hours on Friday. The pair appreciates as the commodity-linked Canadian Dollar (CAD) struggles amid lower oil prices, given Canada’s status as the largest crude exporter to the United States (US).
The USD/KRW pair holds onto its early gains around 1,478.00 during the Asian trading session on Friday.
The USD/JPY pair gathers strength to around 159.15 during the Asian trading hours on Friday. Ongoing concerns regarding the Strait of Hormuz and the Middle East continue to lift the US Dollar (USD) against the Japanese Yen (JPY).
Silver (XAG/USD) struggles to capitalize on a three-day-old modest recovery from levels below the $70.00 psychological mark and oscillates in a narrow band during the Asian session on Friday.
GBP/USD edges lower after four days of gains, trading around 1.3430 during the Asian hours on Friday. The pair depreciates as the US Dollar (USD) holds ground on renewed risk aversion, which could be attributed to the uncertainty over the United States (US)-Iran ceasefire.
A US State Department official confirmed that talks between Lebanon and Israel will take place next week in Washington, DC, Reuters reported on Friday.
The NZD/USD pair edges lower to near 0.5855 during the Asian trading hours on Friday. The New Zealand Dollar (NZD) remains weak against the US Dollar (USD) after mixed Chinese economic data. The attention will shift to the US inflation report later on Friday.
The AUD/JPY cross enters a bullish consolidation phase during the Asian session on Friday and reacts little to mixed Chinese inflation figures. Spot prices currently trade just above mid-112.00s, or the highest level since March 18, and remain on track to register strong weekly gains.
AUD/USD halts its four-day winning streak, trading around 0.7070 during the Asian hours on Friday. However, the pair is up over 2.5% on the week at the time of writing.
China’s Consumer Price Index (CPI) increased 1.0% in March from a year ago after arriving at a rise of 1.3% in February, the National Bureau of Statistics of China reported on Friday. The market consensus was for 1.2% in the reported period.
