Pre Loader

07.04.2023 Market Report


EUR/USD treads water around 1.0930 key upside hurdle during the Good Friday holiday morning in Europe. The Euro pair remains well-set to post a three-week winning streak. All eyes on NFP.


GBP/USD drops to 1.2430 as it extends the two-day downtrend to a sluggish Asian session on Good Friday. The Cable pair pares the weekly losses, the fourth consecutive one, while easing from the top line of a one-month-old ascending trend channel.


USD/JPY is moving around the 133.38 mark. Good Friday’s sluggish session keeps traders to seek more. Traders prepare for the Nonfarm Payrolls. 


AUD/USD pares weekly losses around 0.6680 as traders prepare for the US Nonfarm Payrolls (NFP) during Good Friday’s holiday-driven sluggish session. In doing so, the Aussie pair prints the first daily gains in four amid upbeat headlines from Australia’s major customer China.


NZD/USD holds lower grounds near 0.6245-40 amid an inactive Asian session of Good Friday. In doing so, the Kiwi traders take a breather after the quote dropped the most in one month the previous day. Apart from the holiday-driven lack of liquidity, the cautious mood ahead of the US employment data for March also restricts the quote’s immediate moves.


USD/CAD pares weekly gains around 1.3490 as traders seek more clues amid a sluggish session on the early Good Friday holiday. Adding strength to the market’s inaction could be the cautious mood ahead of the US employment data for March.


USD/CHF holds lower ground near 0.9040 as the US Dollar braces for the all-important US employment data on early Friday. It should be noted that the Good Friday holiday restricts the Swiss Franc (CHF) pair’s immediate moves but downbeat US data and recession woes keep the pair sellers hopeful.


One of the craftiest moves in recent times to boost the oil market should result in a weekly gain at least in crude — which is exactly what OPEC+ got.


Gold slips off bull’s radar for a while as markets consolidate amid the Good Friday holiday, despite being set for the weekly gain to around $2,007. Adding filters to the XAU/USD trading is the cautious mood ahead of the US employment data for March.

Any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination. For the full Risk Disclaimer click here.