Trading news

United States Monthly Budget Statement registered at $-164B, below expectations ($-156.75B) in March

United States Baker Hughes US Oil Rig Count up to 411 from previous 409

The Dow Jones Industrial Average slumped around 300 points on Friday, or roughly 0.6%, retreating from the 48,000 handle after two sessions of ceasefire-fueled gains.

The GBP/USD climbed on Friday as risk appetite improved amid the start of US-Iran talks in Pakistan. Meanwhile, US inflation rose as expected in March, but traders seem confident it's a one-time jump as they remain optimistic about Middle East peace negotiations. The pair trades at 1.3461, up 0.20%.

USD/CAD reverses earlier losses on Wednesday, as uncertainty surrounding upcoming US-Iran negotiations keeps markets cautious and overshadows US inflation and Canadian employment data, keeping price action volatile.

The AUD/USD pair steadies on Friday, posting a slight decline after a four-day strike of gains, trading with a cautious tone amid fresh data releases in the US and geopolitical risks.

Russia Consumer Price Index (MoM) above expectations (0.5%) in March: Actual (0.6%)

Iran's ‌parliament speaker Mohammad Baqer Qalibaf said on Friday that two previously agreed measures, a ceasefire in Lebanon and the release of Iran's blocked assets, must be implemented before negotiations begin, according to Reuters.

TD Securities strategists Robert Both and Emma Lawrence note that Canadian labour markets showed a modest rebound in March, with 14k jobs added and the unemployment rate steady at 6.7%.

Commerzbank’s Volkmar Baur expects the Bank of Japan (BoJ) to deliver two further rate hikes in 2026, taking policy closer to a rising neutral rate and supporting a modest Japanese Yen appreciation versus Dollar (USD) and Euro (EUR) in the second half of the year.

Wells Fargo’s international economics team notes that a fragile ceasefire in the Middle East leaves Oil market risks elevated and conviction on the outlook low.

American consumer confidence deflated in early April, as households grew more pessimistic about current conditions and the broader economic outlook, according to preliminary data from the University of Michigan.

The Euro (EUR) edges higher against the US Dollar (USD) on Friday, with EUR/USD extending gains for a fifth straight day, as improving risk sentiment following the US-Iran ceasefire announcement offsets the impact of firm US inflation data and keeps the Greenback under pressure.

Oscar Munoz and the TD Securities US macro team judge that, although core CPI surprised on the soft side and tariff pass-through moderated, it is too early for markets to extrapolate a dovish signal.

ING’s Senior Economist Min Joo Kang notes that the Bank of Korea kept its policy rate at 2.5% and stressed a data-dependent stance as inflation pressures rise and GDP growth projections weaken.

Commerzbank’s Bernd Weidensteiner notes that U.S. inflation jumped to 3.3% in March, driven mainly by higher gasoline prices linked to the war in Iran, while core inflation remains moderate.

United States Michigan Consumer Expectations Index: 46.1 (April) vs previous 51.7

United States UoM 1-year Consumer Inflation Expectations: 4.8% (April) vs 3.8%

United States UoM 5-year Consumer Inflation Expectation increased to 3.4% in April from previous 3.2%

United States Michigan Consumer Sentiment Index registered at 47.6, below expectations (52) in April