Nordea analysts Sara Midtgaard and Henrik Unell argue that the Dollar is likely to weaken over coming years as global capital is reallocated away from US assets and toward other regions.

The Pound Sterling (GBP) trades almost flat against the US Dollar (USD) at around 1.3530 during the European trading session on Friday.

Rabobank strategist Molly Schwartz highlights that the US Dollar (USD) was the third best-performing G10 currency, but the Canadian Dollar (CAD) outpaced it, pushing USD/CAD down to 1.37, reflecting relative CAD strength on the day.

Eurozone Trade Balance s.a.: €7B (February) vs previous €12.1B

Eurozone Trade Balance n.s.a. registered at €11.5B, below expectations (€11.7B) in February

BNY’s Head of Markets Macro Strategy Bob Savage notes that global equities have rebounded to near-record levels on strong Q1 earnings optimism and a ceasefire-driven improvement in risk sentiment.

Solana (SOL) trades below $90 at press time on Friday, testing grounds above the 50-day Exponential Moving Average (EMA) at $87.42.

Danske Research Team keeps its EUR/SEK outlook unchanged. The cross is currently trading comfortably around 10.80, with NOK/SEK back above 0.98.

Societe Generale analysts observe USD/JPY remains little changed for a second week, trading just below 160 where verbal intervention risk persists.

The Japanese Yen (JPY) trades lower against its major currency peers during the European trading session on Friday.

Italy Trade Balance EU increased to €-0.652B in February from previous €-1.138B

United Overseas Bank’s (UOB) strategists Quek Ser Leang and Lee Sue Ann highlight that EUR/USD failed to break clearly above 1.1825 and has slipped into consolidation after a sharp pullback from 1.1823 to 1.1766.

Eurozone Current Account n.s.a: €21.09B (February) vs €13B

Eurozone Current Account s.a below forecasts (€29.8B) in February: Actual (€25B)

Italy Global Trade Balance above forecasts (€3.83B) in February: Actual (€4.944B)

Here is what you need to know on Friday, April 17:

The NZD/USD pair is seen extending the previous day's retracement slide from the 0.5920-0.5925 area, or the highest level since March 11, and drifting lower for the second straight day on Friday.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending gains for the second successive day and trading around 98.30 during the European hours on Friday.

Philip Wee at DBS Group Research observes that GBP/USD has struggled to extend its rise, stalling just below 1.36 as Bank of England (BoE) officials signal no urgency to raise rates at the April meeting.

Commerzbank economists Jörg Krämer and Bernd Weidensteiner argue that despite a sharper fall in global oil production than during the 1970s crises, advanced economies should suffer less this time.

Zcash (ZEC) is extending its pullback, trading below $335 on Friday after losing over 8% so far this week. Weakening derivatives metrics support a bearish bias for the privacy-focused coin.

BNY’s Head of Markets Macro Strategy Bob Savage argues that USD dynamics are central to Q2 diversification decisions, as the Rest of World equity index has shown a strong correlation with the USD index.

The GBP/JPY cross attracts fresh sellers following an intraday uptick to the 215.65-215.70 region and retreats to the lower end of its daily range during the early European session on Friday.

Deutsche Bank strategists highlight that the S&P 500 closed at another record high, while the NASDAQ logged a 12-session winning streak, its longest since 2009.

Silver price (XAG/USD) trades calmly near $78.70 during the European trading session on Friday. The white metal is broadly sideways as investors await the announcement of a timeline for another round of talks between the United States (US) and Iran.

The USD/CAD pair extends its downside to around 1.3685 during the early European trading hours on Friday. Reports of a ceasefire between Israel and Lebanon reduce safe-haven demand for the US Dollar (USD).

United Overseas Bank’s (UOB) strategists Quek Ser Leang and Lee Sue Ann note AUD/USD has retreated from a spike to 0.7197, with intraday action expected to stay in a 0.7130–0.7180 band.