Forex Today: Markets cling to cautious stance despite Israel-Lebanon ceasefire
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Here is what you need to know on Friday, April 17:
Financial markets adopt a cautios stance on Friday as investors refrain from betting on risky assets, while waiting for clarity on the next round of negotiations between the United States (US) and Iran. The economic calendar will not feature any high-tier data releases, allowing investors to remain focused on geopolitics and comments from central bank policymakers.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.01% | 0.03% | 0.11% | -0.15% | -0.13% | 0.05% | -0.08% | |
| EUR | 0.01% | 0.04% | 0.11% | -0.15% | -0.12% | 0.06% | -0.07% | |
| GBP | -0.03% | -0.04% | 0.06% | -0.19% | -0.15% | 0.02% | -0.10% | |
| JPY | -0.11% | -0.11% | -0.06% | -0.24% | -0.22% | -0.06% | -0.17% | |
| CAD | 0.15% | 0.15% | 0.19% | 0.24% | 0.02% | 0.19% | 0.09% | |
| AUD | 0.13% | 0.12% | 0.15% | 0.22% | -0.02% | 0.17% | 0.06% | |
| NZD | -0.05% | -0.06% | -0.02% | 0.06% | -0.19% | -0.17% | -0.12% | |
| CHF | 0.08% | 0.07% | 0.10% | 0.17% | -0.09% | -0.06% | 0.12% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
US President Donald Trump announced on Thursday that Israel and Lebanon have agreed to a 10-day ceasefire. Later in the day, Israeli Prime Minister Benjamin Netanyahu clarified that Israel has not agreed to withdraw from southern Lebanon and the Israeli military announced that the toops will remain in a 10-km deep sercurity zone in Southern Lebanon and warned residents not to return to the region.
Meanwhile, NBC News reported that a senior Iranian official explained that a permanent ceasefire deal will depend on "adherence to the conditions of Iran and the resistance." Later in the day, the UK and France will chair a meeting on freedom of navigation in the Strait of Hormuz. Representatives from around 40 countires are expected to join the discussions. There are also reports suggesting that the second round of US-Iran talks could happen this weekend.
After closing marginally higher on Thursday, the US Dollar Index holds steady above 98.00 in the European morning on Friday, while US stock index futures trade mixed.
EUR/USD moves sideways near 1.1780 early Friday after losing about 0.15% on Thursday. Later in the session, Eurostat will release February Trade Balance data.
GBP/USD fell 0.25% on Thursday and closed the second consecutive day in negative territory. The pair continues to edge lower and trades slightly above 1.3500 to start the European session on Friday.
USD/JPY fell to a fresh weekly low below 158.30 on Thursday but reversed its direction to close marginally higher. The pair holds its ground and trades comfortably above 159.00 on Friday.
Gold continues to move sideways at around $4,800 after closing virtually unchanged on Thursday.
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