Makro Haberleri

Federal Reserve (Fed) Governor Stephen Miran said in an interview with Fox Business, released on Friday, that the central bank should cut interest rates, clarifying that the current policy is holding back the job market.

Nordea’s Chief Analyst Jan von Gerich argues that the European Central Bank remains focused on inflation risks despite softer sentiment data and downside growth risks.

EUR/CAD extends its gains for the third successive day, trading around 1.6040 during the European hours on Friday. The currency cross remains stronger as the Euro (EUR) remains firm against its major peers despite the decline in Germany’s industrial sector activity in March.

Deutsche Bank analysts point out that stronger US data and hawkish Federal Reserve commentary have pushed Treasury yields higher and supported the Dollar Index.

The GBP/USD pair trades 0.25% higher to near 1.3590 during the European trading session on Friday. The Cable reflects strength as the Pound Sterling (GBP) outperforms its major currency peers, except antipodeans, amid a revived risk-on rally.

The EUR/JPY cross gains traction to around 184.15 during the early European trading hours on Friday. The Euro (EUR) edges higher against the Japanese Yen (JPY) amid improved risk sentiment and hawkish signals from the European Central Bank (ECB).

The United States (US) Bureau of Labor Statistics (BLS) will release the Nonfarm Payrolls (NFP) data for April on Friday at 12:30 GMT.

MUFG’s Lloyd Chan expects today’s US nonfarm payrolls to pose upside risks for the US Dollar (USD), with labour indicators hinting at a stronger April print.

The US Dollar (USD) pares losses against its main peers on Friday, as hopes for a swift end to the war in Iran fade again, following an exchange of fire in the Strait of Hormuz.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is inching lower after registering modest gains in the previous day and trading around 98.20 during the Asian hours on Friday.

The US Dollar Index (DXY) is trading with a softer tone near the 98.10 area as markets continue reacting to rapidly shifting headlines surrounding the potential peace agreement between the United States (US) and Iran.