ING’s Francesco Pesole highlights that markets now price only 6bp for a European Central Bank (ECB) hike on 30 April, while around 55bp remains priced by year-end.
The Canadian labor market data for March is scheduled to be published today at 12:30 GMT.
The (EUR) has rallied about 30 pips against the US Dollar (USD) on Friday's European trading session, returning above 1.1700 and turning positive on daily charts.
According to a report from Bloomberg, a senior adviser to Ukrainian President Volodymyr Zelenskyy said during European trading hours on Friday that Kyiv is close to reaching a peace deal with Russia.
The Indian Rupee (INR) faces selling pressure against the US Dollar (USD) during afternoon trading hours in India on Friday.
DBS Group Research projects India’s March Consumer Price Index (CPI) inflation to edge up to 3.45% year-on-year from 3.2%, reflecting higher cooking gas, energy and input costs, while retail fuel and food stay benign. Precious metals’ correction tempers price pressures.
OCBC strategists Sim Moh Siong and Christopher Wong report Gold has rebounded in choppy trade on a fragile US–Iran ceasefire and direct Israel–Lebanon talks. With US nominal and real yields falling and risk sentiment improving, the bank sees risks to Gold prices somewhat skewed to the upside.
Commerzbank economist Bernd Weidensteiner notes that the Federal Reserve sees itself in a good position despite Iran‑related inflation risks, with officials expecting only a small core inflation impact.
Deutsche Bank economists expect a sharp acceleration in US CPI for March as higher gasoline prices feed through. They project headline CPI at 0.95% month‑on‑month, the strongest since June 2022, lifting the annual rate back to 3.4%.
Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $75.16 per troy ounce, down 0.23% from the $75.33 it cost on Thursday.
United Overseas Bank’s (UOB) economists Quek Ser Leang and Lee Sue Ann note AUD/USD broke above the prior range, reaching near 0.7100. Despite labeling the recent surge as overdone, they still see room for a push toward 0.7135, with 0.7000 now the key strong support.
UBS economist Paul Donovan discusses how US March consumer price inflation highlights US consumers’ war-related burden and affordability concerns.
