Forex Today: Markets turn cautious, all eyes on US NFP data
Here is what you need to know on Friday, April 3:
USD/CHF stays near 0.8000 due thin trading on Good Friday
USD/CHF remains steady after registering over 0.5% gains in the previous day, trading around 0.7980 during the Asian hours. The pair moves little as trading activity may remain subdued due to the Good Friday holiday.
GBP/USD Price Forecast: Rebounds toward 1.3250 near nine-day EMA
GBP/USD holds gains after registering over 0.5% losses in the previous day, trading around 1.3230 during the Asian hours on Friday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair remains within the descending channel pattern.
Russia S&P Global Services PMI declined to 49.5 in March from previous 51.3
Russia S&P Global Services PMI declined to 49.5 in March from previous 51.3
Australian Dollar gains traction ahead of US jobs report
The AUD/USD pair gains ground near 0.6900 during the early European trading hours on Friday. Hawkish tone from the Reserve Bank of Australia (RBA) underpins the Australian Dollar (AUD) against the Greenback. Trading volumes are likely to be thin due to the Good Friday holiday.
US Dollar Index holds gains near 100.00 as traders focus on US jobs data and Iran conflict
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 100.00 during the early European trading hours on Friday. The DXY holds positive ground amid fresh concerns over a prolonged conflict in the Middle East.
EUR/USD Price Forecast: Remains below nine-day EMA near 1.1550
EUR/USD remains subdued for the second successive day, trading around 1.1540 during Asian hours on Friday. The daily chart technical analysis indicates a potential bullish reversal as the pair is testing the upper boundary of the descending channel pattern.
WTI trades near $104.00 after 10% surge on Trump’s Iran threats
West Texas Intermediate (WTI) oil price rises over 10% after two days of losses, trading around $103.80 per barrel during the Asian hours on Friday. Crude oil prices surged as markets reassessed the scale of supply risks stemming from the ongoing conflict in the Persian Gulf.
NZD/USD declines to near 0.5700 on weak Chinese PMI, US NFP data looms
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.
Pound Sterling edges higher as traders price in two BoE rate hike odds
GBP/USD inches higher after registering modest losses in the previous day, trading around 1.3230 during the Asian hours on Friday. Trading activity may remain subdued due to the Good Friday holiday.
Silver Price Forecast: XAG/USD falls to near $73.00 on central banks’ hawkish policy odds
Silver price (XAG/USD) remains in the negative territory after experiencing volatility, trading around $73.10 during the Asian hours on Friday.
India Gold price today: Gold steadies, according to FXStreet data
Gold prices remained broadly unchanged in India on Friday, according to data compiled by FXStreet.