Forex Today: Markets stabilize as trading volume thins out on Easter Friday

FXStreet
Updated
Mitrade
coverImg
Source: DepositPhotos

Here is what you need to know on Friday, April 18:


Major currency pairs stay quiet on Friday as trading volumes thin out, with major markets remaining closed in observance of the Easter Holiday. The economic calendar will not offer any high-tier data releases, paving the way for subdued market action heading into the weekend.


US Dollar PRICE This month


The table below shows the percentage change of US Dollar (USD) against listed major currencies this month. US Dollar was the weakest against the Swiss Franc.


17449620331840


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).


The European Central Bank (ECB) announced on Thursday that it lowered key rates by 25 basis points (bps) following the April policy meeting, as widely anticipated. In the post-meeting press conference, ECB President Christine Lagarde refrained from hinting at the next policy move but acknowledged that the Eurozone's economic outlook is clouded by uncertainty. EUR/USD edged lower following the ECB event and ended the day in negative territory. Early Friday, the pair fluctuates in a tight channel above 1.1350.


The data from the US showed on Thursday that weekly Initial Jobless Claims declined to 215,000 from 224,000 in the previous week. Meanwhile, US President Donald Trump said on Thursday that China has reached out to his administration to talk on tariffs and added that he think they will make a deal with China. The US Dollar (USD) Index closed marginally higher and stabilized at around 99.50 early Friday.


After gaining more than 3% on Wednesday, Gold continued to push higher in the Asian session on Thursday and reached a new record-high of $3,357. In the second half of the day, XAU/USD corrected lower, possibly because of profit-taking, and settled at $3,327 for the week.


GBP/USD closed in positive territory on Thursday and stretched higher toward 1.3280 before entering a consolidation phase.


USD/JPY trades in a narrow band below 142.50 on Friday and remains on track to post losses for the third consecutive week. Bank of Japan Governor Kazuo Ueda repeated on Friday that they will keep raising interest rates if underlying inflation accelerates toward the 2% target.

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
AUD/JPY Price Forecast: Seems vulnerable while below 93.00 and 23.6% Fibo. levelThe AUD/JPY cross comes under renewed selling pressure following the previous day's modest uptick and drops to a nearly two-week low during the first half of the European session on Tuesday.
Author  FXStreet
1 hour ago
The AUD/JPY cross comes under renewed selling pressure following the previous day's modest uptick and drops to a nearly two-week low during the first half of the European session on Tuesday.
placeholder
USD/CAD flat lines around mid-1.3900s; looks to Canadian inflation data for fresh impetusThe USD/CAD pair extends its sideways consolidative price move heading into the European session on Tuesday and currently trades around mid-1.3900s, nearly unchanged for the day. Moreover, the mixed fundamental backdrop warrants some caution before placing aggressive directional bets.
Author  FXStreet
2 hours ago
The USD/CAD pair extends its sideways consolidative price move heading into the European session on Tuesday and currently trades around mid-1.3900s, nearly unchanged for the day. Moreover, the mixed fundamental backdrop warrants some caution before placing aggressive directional bets.
placeholder
USD/CHF remains on the defensive below 0.8350 on weaker US DollarThe USD/CHF pair remains under selling pressure around 0.8335 during the early European session on Tuesday. The rising bets that the Federal Reserve (Fed) will lower borrowing costs further this year weigh on the Greenback against the Swiss Franc.
Author  FXStreet
2 hours ago
The USD/CHF pair remains under selling pressure around 0.8335 during the early European session on Tuesday. The rising bets that the Federal Reserve (Fed) will lower borrowing costs further this year weigh on the Greenback against the Swiss Franc.
placeholder
Forex Today: RBA and PBoC cut policy rate, eyes on Canada inflation dataThe Reserve Bank of Australia (RBA) and the People's Bank of China (PBoC) announced rate cuts early Tuesday, as anticipated.
Author  FXStreet
3 hours ago
The Reserve Bank of Australia (RBA) and the People's Bank of China (PBoC) announced rate cuts early Tuesday, as anticipated.
placeholder
EUR/JPY weakens below 163.00 on BoJ rate hike betsThe EUR/JPY cross trades in negative territory around 162.70 during the early European session on Tuesday. The growing expectation that the Bank of Japan (BoJ) will raise interest rates again this year underpins the Japanese Yen (JPY) against the Euro (EUR).
Author  FXStreet
4 hours ago
The EUR/JPY cross trades in negative territory around 162.70 during the early European session on Tuesday. The growing expectation that the Bank of Japan (BoJ) will raise interest rates again this year underpins the Japanese Yen (JPY) against the Euro (EUR).