TradingKey - The energy price shockwaves triggered by the U.S.-Iran conflict are profoundly impacting the U.S. economy.Latest Consumer Price Index (CPI) data for March released by the U.S. Bureau of L

Royal Bank of Canada’s (RBC) Nathan Janzen notes that Canadian labour market conditions steadied in March, with a modest employment gain and an unemployment rate holding at 6.7%.

United Overseas Bank’s (UOB) economists Quek Ser Leang and Lee Sue Ann see USD/JPY edging higher in the near term after rebounding from oversold levels, but expects gains to be limited below 159.60.

Rabobank's Head of Macro Strategy Elwin de Groot argues that Hungary’s parliamentary election could have supportive implications for the Euro if Viktor Orbán loses power.

OCBC strategists Sim Moh Siong and Christopher Wong note New Zealand Dollar (NZD) has rallied on hawkish Reserve Bank of New Zealand (RBNZ) rhetoric and easing Oil risks, but warns markets may be overpricing tightening.

ING economists expect National Bank of Poland (NBP) rates to stay unchanged after April’s decision to hold the reference rate at 3.75%.

Danske Research Team underlines that Sunday’s Hungarian election could be crucial for European Union politics.

Statistics Canada reported on Friday that the Unemployment Rate helds steady at 6.7% in March, coming short of what markets were expecting.

United States Consumer Price Index Core s.a up to 334.165 in March from previous 333.51

United States Consumer Price Index ex Food & Energy (MoM) came in at 0.2%, below expectations (0.3%) in March

United States Consumer Price Index (MoM) meets expectations (0.9%) in March

United States Consumer Price Index ex Food & Energy (YoY) registered at 2.6%, below expectations (2.7%) in March

United States Consumer Price Index n.s.a (MoM) below forecasts (330.41) in March: Actual (330.21)

United States Consumer Price Index (YoY) meets forecasts (3.3%) in March

Canada Net Change in Employment came in at 14.1K, below expectations (15K) in March

Canada Unemployment Rate below forecasts (6.8%) in March: Actual (6.7%)

Canada Participation Rate remains unchanged at 64.9% in March

Standard Chartered Bank economists Saurav Anand and Anubhuti Sahay highlight a sharp slowdown in India’s new investment announcements in March, heavily affected by the Middle East conflict and sector-specific issues in renewable electricity and chemicals.

Mexico Industrial Output (YoY) came in at -1.3%, below expectations (-0.7%) in February

TD Securities’ Global Strategy Team expects a muted rebound in Canadian labour markets, forecasting only 10k new jobs in March and an unemployment rate of 6.8%.

The Canadian labor market data for March is scheduled to be published today at 12:30 GMT.

According to a report from Bloomberg, a senior adviser to Ukrainian President Volodymyr Zelenskyy said during European trading hours on Friday that Kyiv is close to reaching a peace deal with Russia.

TradingKey - At 8:30 a.m. ET on Friday, the U.S. Department of Labor will release the March Consumer Price Index (CPI) report. Markets widely expect inflation to experience its sharpest monthly spike

DBS Group Research projects India’s March Consumer Price Index (CPI) inflation to edge up to 3.45% year-on-year from 3.2%, reflecting higher cooking gas, energy and input costs, while retail fuel and food stay benign. Precious metals’ correction tempers price pressures.

Commerzbank economist Bernd Weidensteiner notes that the Federal Reserve sees itself in a good position despite Iran‑related inflation risks, with officials expecting only a small core inflation impact.

Deutsche Bank economists expect a sharp acceleration in US CPI for March as higher gasoline prices feed through. They project headline CPI at 0.95% month‑on‑month, the strongest since June 2022, lifting the annual rate back to 3.4%.

Nordea’s Jan von Gerich and Tuuli Koivu updated their ECB outlook before the ceasefire news and now expect four 25bp hikes starting in June.

Rabobank’s RaboResearch Global Economics & Markets team notes that Brent crude has firmed as markets weigh a fragile ceasefire between the United States and Iran and severe disruption in the Strait of Hormuz.

UBS economist Paul Donovan discusses how US March consumer price inflation highlights US consumers’ war-related burden and affordability concerns.

United Overseas Bank’s (UOB) economists Quek Ser Leang and Lee Sue Ann note AUD/USD broke above the prior range, reaching near 0.7100. Despite labeling the recent surge as overdone, they still see room for a push toward 0.7135, with 0.7000 now the key strong support.