DBS Group Research expects the Monetary Authority of Singapore (MAS) to slightly increase the slope of the Singapore Dollar (SGD) Nominal Effective Exchange Rate (NEER) policy band at its 14 April meeting, reversing last year’s easing.
The Japanese Yen (JPY) trades under pressure against the US Dollar (USD) on Friday, with USD/JPY trimming most of its losses from earlier in the week as ongoing Oil supply disruptions linked to Middle East tensions keep a lid on the Yen’s recovery despite a softer Greenback.
United States Monthly Budget Statement registered at $-164B, below expectations ($-156.75B) in March
United States Baker Hughes US Oil Rig Count up to 411 from previous 409
The Dow Jones Industrial Average (DJIA) slumps around 300 points on Friday, or roughly 0.6%, retreating from the 48,000 handle after two sessions of ceasefire-fueled gains.
GBP/USD climbs on Friday as risk appetite improves ahead of the start of US-Iran talks in Pakistan. Meanwhile, US inflation rose as expected in March, but traders seem confident it's a one-time jump as they remain optimistic about Middle East peace negotiations.
USD/CAD reverses earlier losses on Friday, as uncertainty surrounding upcoming US-Iran negotiations keeps markets cautious and overshadows US inflation and Canadian employment data, keeping price action volatile.
The AUD/USD pair steadies on Friday, posting a slight decline after a four-day strike of gains, trading with a cautious tone amid fresh data releases in the US and geopolitical risks.
Russia Consumer Price Index (MoM) above expectations (0.5%) in March: Actual (0.6%)
Iran's parliament speaker, Mohammad Baqer Qalibaf, said in a post on X on Friday that two previously agreed measures, a ceasefire in Lebanon and the release of Iran's blocked assets, must be implemented before negotiations begin.
Gold (XAU/USD) holds steady on Friday but lacks strong upside momentum as markets continue to monitor the evolving situation in the Middle East, while traders digest the latest US inflation data.
TD Securities strategists Robert Both and Emma Lawrence note that Canadian labour markets showed a modest rebound in March, with 14k jobs added and the unemployment rate steady at 6.7%.
