Trading news

Societe Generale analysts highlight a steep EUR/HUF decline after failing to hold above the 200‑day moving average in March and breaking April’s low.

Greece Consumer Price Index (YoY) increased to 5.4% in April from previous 3.9%

Greece Consumer Price Index - Harmonized (YoY): 4.6% (April) vs 3.4%

The Pound Sterling (GBP) is one of the strongest performers on Friday, showing moderate gains against the Japanese Yen (JPY). The GBP/JPY pair returns above 213.00 at the time of writing, and is on track to end the week near opening levels.

ING’s Francesco Pesole argues the Pound remains vulnerable as United Kingdom (UK) local election results show heavy losses for Labour and early calls for Prime Minister Starmer to resign.

Rabobank’s Senior Economist Maartje Wijffelaars highlights extreme volatility in Oil, with Brent dropping to $93 per barrel before spiking above $102 as shifting war headlines from Washington drive sentiment.

West Texas Intermediate (WTI), futures on NYMEX, is down 2.5% to near $92.20 during the European trading session on Friday.

The Euro (EUR) posts moderate gains against the US Dollar (USD) on Friday, trading a few pips shy of the 1.1750 level at the time of writing, to reverse part of Thursday's losses.

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.

UBS' Chief Economist Paul Donovan comments that United States (US) April employment data are unlikely to show war effects yet, with moderate job gains and stable earnings anticipated.

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.

ING’s Francesco Pesole highlights that the Euro has been resilient on crosses but slipped versus the Dollar, with softer equities and commodity FX underperformance shaping flows.

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 US Dollar (USD) trades moderately lower against the Japanese Yen (JPY) on Friday, on track to close the week practically flat, as Japanese authorities’ warnings about further interventions keep Yen sellers on their toes.

Dow Jones futures gain 0.18%, trading near 49,790 during the early European hours on Friday, ahead of the United States (US) regular opening. Meanwhile, the S&P 500 rise 0.30% to near 7,390, and the Nasdaq 100 futures advance 0.48% above 28,820.

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.

Austria Industrial Production (YoY): 1.7% (March) vs 1.1%

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).

Spain Industrial Output Cal Adjusted (YoY) rose from previous -1.1% to 1.8% in March

Here is what you need to know on Friday, May 8: