BNY’s Bob Savage notes that Q1 S&P 500 earnings are strong but upside versus expectations is modest, with uneven Q2 and full‑year guidance. Sector leadership is concentrated in semiconductors, AI-linked names and parts of energy, while defense lags.
Crude prices are consolidating gains on Friday, following a three-day rally, as investors pare back hopes of an imminent peace deal between the US and Iran.
Commerzbank’s Tatha Ghose expects the Russian central bank to deliver another 50bp rate cut, though a pause is possible as inflation picks up and global price risks worsen.
Dow Jones futures pares its daily losses but remain in the negative territory, declining by 0.13%, trading above 49,400 during the European hours on Friday, ahead of the United States (US) regular opening.
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann highlight that GBP/USD dropped sharply to 1.3448 before recovering, with momentum still only modestly negative. They see scope for a dip toward 1.3440, though a move to 1.3400 looks unlikely on current intraday momentum.
OCBC strategists Sim Moh Siong and Christopher Wong note that USD/JPY is again approaching 160 as the US Dollar (USD) benefits from safe-haven flows and Japanese authorities reiterate intervention readiness.
The USD/JPY pair enters a bullish consolidation phase on Friday and oscillates in a range below the 160.00 psychological mark through the early European session amid mixed cues. Nevertheless, spot prices seem poised to register gains for the first time in three weeks.
The AUD/USD pair trades subduedly around 0.7120 during the European trading session on Friday. The Aussie pair ticks lower as the US Dollar (USD) trades broadly firm amid higher oil prices due to the prolonged closure of the Strait of Hormuz, a critical passage to almost 20% of global energy supply.
Chris Turner at ING argues that a regime of higher Oil prices, inflation and tighter global policy would favour EUR/CHF upside. Switzerland’s low fossil-fuel exposure means the Swiss National Bank (SNB) is likely to lag in tightening.
USD/CAD continues its winning streak for the fourth successive day, trading around 1.3710 during the early European hours on Friday. However, the technical analysis of the daily chart indicates the pair is remaining within the descending channel pattern, signaling a persistent bearish bias.
Commerzbank’s Michael Pfister discusses how US allies in Middle East and Asia are seeking Dollar swap lines as conflicts curb energy exports and tourism.
Gold (XAU/USD) maintains its offered tone just above a two-week low, around the $4,658-$4,657 area set earlier this Friday, and seems poised to register losses for the first time in five weeks.
The Euro (EUR) remains practically flat against the British Pound (GBP) on Friday, trading at 0.8675 at the time of writing, with resistance at the 0.8680 area capping Thursday’s rebound from 0.8654 lows.
Danske Research Team says global equities ended slightly lower on generally sour risk sentiment, with the tech sector underperforming due to a sharp drop in software names. Value stocks reversed prior losses and outperformed cyclicals.
The Indian Rupee (INR) opens positively against the US Dollar (USD) on Friday, extending its losing streak for the fifth trading day.
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann note EUR/USD has slipped to a two-week low near 1.1680 as Euro area activity weakens, but short-term downside momentum is slowing. They expect range trading between 1.1665 and 1.1715 intraday.
The GBP/JPY pair finds buyers’ interest above 215.00 during the European trade on Friday after the release of the United Kingdom (UK) Retail Sales data for March.
GBP/USD steadies after three days of losses, trading around 1.3470 during the Asian hours on Friday. The pair stays calm following the release of United Kingdom (UK) Retail Sales data, which rebounded 0.7% month-over-month (MoM) in March after declining by a revised 0.6% in February.
Retail Sales, a key measure of consumer spending, in the United Kingdom (UK) rebounded 0.7% month-over-month (MoM) in March after declining by a revised 0.6% in February, the latest data published by the Office for National Statistics (ONS) showed on Friday.
The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, holds onto gains near the weekly high around 99.00 in the Asian trade on Friday.
Asian equity markets mostly declined on Friday as higher oil prices pressured sentiment amid stalled US–Iran peace talks and ongoing disruptions in the Strait of Hormuz.
The EUR/USD pair remains on the back foot through the Asian session on Friday and currently trades around the 1.1680-1.1675 region, just above a nearly two-week low touched the previous day.
Gold prices fell in India on Friday, according to data compiled by FXStreet.
The NZD/USD pair is seen extending this week's retracement slide from the 0.5925-0.5930 horizontal barrier and drifting lower for the second straight day on Friday.
USD/CHF extends its winning streak for the fourth successive day, trading around 0.7870 during the Asian hours on Friday. The pair gains ground as the US Dollar (USD) receives support from safe-haven demand amid persistent uncertainty surrounding the United States (US)–Iran conflict.
EUR/JPY inches higher after three days of gains, trading around 186.60 during Asian hours on Friday. The technical analysis of the daily chart indicates the currency cross is positioned slightly below the ascending channel, signaling potential for a bearish reversal.
Silver price (XAG/USD) trades with caution near its 10-day low around $75 during the Asian trading session on Friday. The white metal has been under pressure as oil prices reflect strength due to the prolonged closure of the Strait of Hormuz, a critical passage to almost 20% of global energy supply.
Israel’s Ambassador to the United Nations (UN), Danny Danon, said in a CNN News interview on Friday that the Lebanon ceasefire extension "not 100%".
USD/CAD remains flat following a three-day winning streak, trading around 1.3700 during the Asian hours on Friday. The pair steadies as the US Dollar (USD) maintains its position as safe-haven demand increases amid persistent uncertainty surrounding the United States (US)–Iran conflict.
The USD/JPY pair sticks to its positive bias for the fifth straight day and trades around the 159.80 area, or a nearly two-week top during the Asian session on Friday.
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