Trading news

USD/JPY trades with a mild downside bias on Friday as lingering intervention fears support the Japanese Yen (JPY), even as the US Dollar (USD) remains firm against its major peers following the upside surprise in US Nonfarm Payrolls (NFP) data.

The US S&P Global Services PMI in March reported that business activity in the sector is slowing sharply, falling to contractionary territory for the first time since January 2023, amid higher inflation and the war in the Middle East.

AUD/USD reverses earlier gains on Friday as stronger-than-expected US Nonfarm Payrolls (NFP) data supports the US Dollar (USD), adding modest pressure on the Australian Dollar (AUD), while price action remains subdued amid thin liquidity due to the Good Friday holiday.

The USD/CAD rises some 0.14% on Friday after an outstanding employment report in the US, which exceeded economists projectio by almost three times, according to the US Bureau of Labor Statistics (BLS).

United States S&P Global Composite PMI came in at 50.3, below expectations (51.4) in March

United States S&P Global Services PMI came in at 49.8 below forecasts (51.1) in March

EUR/USD trades in a tight range on Friday as a stronger-than-expected US Nonfarm Payrolls (NFP) report lends support to the US Dollar (USD), while the Euro (EUR) holds relatively steady amid thin liquidity conditions due to the Good Friday holiday.

United States President Donald Trump is on the wires on Good Friday, claiming the US can easily reopen the Strait of Hormuz, take the oil, and make a fortune on Truth Social.

United States Labor Force Participation Rate declined to 61.9% in March from previous 62%

United States Unemployment Rate came in at 4.3% below forecasts (4.4%) in March

United States Nonfarm Payrolls above forecasts (60K) in March: Actual (178K)

United States Average Weekly Hours below forecasts (34.3) in March: Actual (34.2)

United States Average Hourly Earnings (YoY) registered at 3.5%, below expectations (3.7%) in March

United States Average Hourly Earnings (MoM) below expectations (0.3%) in March: Actual (0.2%)

United States U6 Underemployment Rate fell from previous 7.9% to -8% in March

USD/JPY trades flat on Friday, fluctuating between minor gains and losses as thin holiday liquidity keeps price action subdued. At the time of writing, the pair is trading around 159.58, with traders staying on the sidelines ahead of the US Nonfarm Payrolls (NFP) report.

India FX Reserves, USD down to $688.06B in March 23 from previous $698.35B

The Australian Dollar’s (AUD) recovery attempt against the US Dollar (USD) has been capped a few pips ahead of the 0.6920 level. The pair has been trimming gains on Friday, returning to the 0.6900 area at the time of writing, with all eyes on the release of the US Nonfarm Payrolls report.

The British Pound (GBP) trades slightly higher against the US Dollar (USD) on Friday, as modest softness in the Greenback lends some support.

The New Zealand Dollar (NZD) is showing the weakest performance among major currencies in an otherwise calm Good Friday session, with most markets closed on bank holidays.