EUR/USD tried to stretch for a fourth straight day of gains, but markets are drawing into the middle ahead of Friday's key US Nonfarm Payrolls (NFP) print. The Euro saw a sharp rejection from the 1.0850 level on Thursday, ending Fiber's three-day win streak. EUR/USD has had a stellar week, climbing 4.6% bottom-to-top from Monday's opening bids. Forex Today: The US Nonfarm Payrolls are coming! FX markets have sharply rebalanced after rate cut expectations took a tumble this week. According to rate markets, the European Central Bank (ECB) is broadly expected to only cut interest rates one...
Gold is steady in the early Asian trade. Prices are largely unchanged given the rising macroeconomic uncertainty, the ANZ Research team writes in a note. The move by the U.S. to delay tariffs on Mexico saw yields on U.S. Treasurys push toward their lowest levels this year, as markets price in the possibility of several U.S. Fed rate cuts this year, given the tariffs' potential impact on growth, they add. The precious metal is consolidating its upward trend, and there might be room for prices to rise further given its value as a safe-haven asset, Antonio Di Giacomo of trading platform...
The Australian Dollar (AUD) remains subdued against the US Dollar (USD) for the second consecutive day on Friday. The AUD/USD pair faces modest headwinds as the USD steadies ahead of the upcoming Nonfarm Payrolls (NFP) report in the North American session. The Reserve Bank of Australia (RBA) maintains its outlook for economic growth to slow toward 2% by 2025. While its stance has previously bolstered AUD strength, investors remain cautious about potential policy shifts in response to inflation and labor market dynamics. The AUD could find support from easing concerns after US President...
WTI crude futures traded around $66 per barrel on Friday, heading for its worst week since October and the longest weekly losing streak since December 2023. Prices came under pressure from the potential fallout of global trade shifts. While President Donald Trump eased some tariffs on Mexico and Canada until April 2, Canada's retaliatory tariffs remain, and China's measures take effect next week. Adding to bearish sentiment, OPEC+ plans to revive output in April, coinciding with prospects of a restart of the Kirkuk-Ceyhan pipeline and increased production at Kazakhstan's Tengiz field,...
The dollar index stabilized above 104 on Friday as investors looked ahead to the highly anticipated monthly jobs report for further insights into the economy's health. The dollar also found support after President Donald Trump temporarily exempted certain Canadian and Mexican goods from the 25% tariffs imposed earlier in the week, raising hopes for additional concessions. However, the index remains on track to lose more than 3% for the week, as the escalating trade war stoked concerns about the potential negative impact on the US economy, particularly given the heavy reliance of many US...