The EUR/USD pair edges higher during the Asian session on Friday, though it lacks bullish conviction and risks attracting fresh sellers amid a bullish US Dollar (USD).
West Texas Intermediate (WTI) depreciates after two days of gains, trading around $91.80 per barrel during the Asian hours on Friday.
On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.9141 compared to the previous day's fix of 6.9056 and 6.9089 Reuters estimate.
AUD/USD extends its losing streak for the fourth consecutive day, trading around 0.6880 during the Asian hours on Friday.
Federal Reserve (Fed) Vice Chair of Supervision Philip Jefferson said Thursday evening that the current policy stance should continue to support the labor market and allow inflation to resume its decline.
Federal Reserve (Fed) Governor Michael Barr said on Thursday that the economy has remained resilient through a series of shocks, but those have complicated the central bank reaching its 2% inflation goal.
Federal Reserve (Fed) Governor Stephen Miran said on Thursday that shrinking the size of the balance sheet allows for easier interest rate policy. Those who think that the Fed balance sheet can’t shrink ‘simply lack imagination’, Miran added further.
GBP/USD slipped about 0.1% on Thursday, settling around 1.3340 in a choppy session.
United Kingdom GfK Consumer Confidence above expectations (-24) in March: Actual (-21)
DBS Group Research economist Radhika Rao discusses how the Philippines’ declaration of a national energy emergency in response to Middle East supply risks could affect inflation, growth and the Philippines Peso (PHP).
OCBC strategists Sim Moh Siong and Christopher Wong observes that Asian FX has shown tentative stabilization after a multi-week sell-off linked to the Iran conflict, but characterizes the move as consolidation.
USD/JPY edged up about 0.1% on Thursday, trading around 159.70 and holding just below the session high near 159.85. The pair has rallied sharply from the early-March lows close to 152.10, gaining roughly 770 pips in under three weeks.
