GBP/USD edges lower after four days of gains, trading around 1.3430 during the Asian hours on Friday. The pair depreciates as the US Dollar (USD) holds ground on renewed risk aversion, which could be attributed to the uncertainty over the United States (US)-Iran ceasefire.

The AUD/JPY cross enters a bullish consolidation phase during the Asian session on Friday and reacts little to mixed Chinese inflation figures. Spot prices currently trade just above mid-112.00s, or the highest level since March 18, and remain on track to register strong weekly gains.

The NZD/USD pair edges lower to near 0.5855 during the Asian trading hours on Friday. The New Zealand Dollar (NZD) remains weak against the US Dollar (USD) after mixed Chinese economic data. The attention will shift to the US inflation report later on Friday. 

AUD/USD halts its four-day winning streak, trading around 0.7070 during the Asian hours on Friday. However, the pair is up over 2.5% on the week at the time of writing.

Bank of Japan (BoJ) Deputy Governor Ryozo Himino said on Friday, “don't think Japan’s economy is in stagflation.”

China Consumer Price Index (MoM) below forecasts (-0.2%) in March: Actual (-0.7%)

China Producer Price Index (YoY) above forecasts (0.4%) in March: Actual (0.5%)

China Consumer Price Index (YoY) came in at 1%, below expectations (1.2%) in March

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – trades with a mild positive bias during the Asian session on Friday, though it lacks bullish conviction amid hopes of Iran ceasefire stabilizing.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Friday at 6.8654 compared to the previous day's fix of 6.8649 and 6.8313 Reuters estimate.

South Korea BoK Interest Rate Decision in line with forecasts (2.5%)

The EUR/USD pair trades in negative territory around 1.1690 during the early Asian session on Friday. The Euro (EUR) weakens against the US Dollar (USD) as traders remain cautious about whether a fragile two-week ceasefire between the United States and ‌Iran would hold.

Israeli Prime Minister Benjamin Netanyahu said on Friday that he has issued an instruction to start direct negotiations with Lebanon “as soon as possible”, the Washington Post reported on Friday. However, Netanyahu insisted that Israel’s attacks across the country targeting Hezbollah would continue.

Japanese Prime Minister Sanae Takaichi said that the government is weighing a plan to release approximately 20 days' worth of additional oil reserves starting from early May onwards, Reuters reported on Friday.

Japan Producer Price Index (YoY) registered at 2.6% above expectations (2.4%) in March

Japan Producer Price Index (MoM) below expectations (0.9%) in March: Actual (0.8%)

Japan Bank Lending (YoY) came in at 4.8%, above expectations (4.4%) in March

US President Donald Trump accused Iran of doing a "very poor job" of handling oil through the Strait of Hormuz and is saying it was "not the agreement we have,” BBC reported late Thursday. Trump further stated that Iran "better not be" charging ships to pass through the key waterway.

The National Bureau of Statistics of China (NBS) will publish its data for March at 01.30 GMT. The Consumer Price Index (CPI) is expected to show a rise of 1.2% YoY in March, compared to 1.3% in February.

Gold price (XAU/USD) trades with mild losses near $4,760 during the early Asian session on Friday. The precious metal declines as market uncertainty persists regarding the fragility of the US-Iran ceasefire and reports of continued Middle East conflict, including the closure of the Strait of Hormuz.

Colombia Consumer Price Index (MoM) registered at 0.78% above expectations (0.69%) in March

Colombia Consumer Price Index (YoY) came in at 5.56%, above expectations (5.47%) in March

GBP/USD added 0.31% on Thursday, pushing into the mid-1.3400s as the US-Iran ceasefire continued to weigh on the US Dollar. But the rally is starting to feel laboured.

New Zealand Business NZ PMI dipped from previous 55 to 53.2 in March

AUD/USD rose 0.56% on Thursday, extending its winning streak to four sessions as the ceasefire-driven risk rally continued to lift the Aussie Dollar.

USD/JPY rises and tests the 20-day Simple Moving Average (SMA) at 159.19 on Thursday, yet it retreated amid an improvement in risk appetite, a headwind to the safe-haven appeal of the US Dollar. At the time of writing, the pair trades at 158.99, up 0.28%.

The NZD/USD pair is trading muted near 0.5860 on Friday, after climbing for four straight days, hovering near recent highs as the US Dollar (USD) remains supported by a combination of geopolitical tensions and a cautious Federal Reserve outlook.