The Australian Dollar’s (AUD) recovery attempt against the US Dollar (USD) has been capped a few pips ahead of the 0.6920 level. The pair has been trimming gains on Friday, returning to the 0.6900 area at the time of writing, with all eyes on the release of the US Nonfarm Payrolls report.

The British Pound (GBP) trades slightly higher against the US Dollar (USD) on Friday, as modest softness in the Greenback lends some support.

The New Zealand Dollar (NZD) is showing the weakest performance among major currencies in an otherwise calm Good Friday session, with most markets closed on bank holidays.

The Euro (EUR) is trading sideways between 1.1530 and 1.1550 against the US Dollar (USD) in a holiday-thinned session, with most markets closed on Good Friday. The pair is on track for a 0.3% weekly appreciation, yet with price action trapped halfway through March’s trading range.

EUR/GBP’s reversal from one-month highs at 0.8740 found support above 0.8700 earlier this week, before stalling halfway through the last few days’ range around 0.8720.

The EUR/JPY cross gathers strength around 184.15 during the early European session on Friday. Trading volumes are likely to be thin due to the Good Friday holiday.

The US Dollar (USD) keeps the upper hand against its Canadian counterpart on Friday, trading near 1.3925 at the moment of writing, with the 1.3966 year-to-date high at a relatively short distance.

Here is what you need to know on Friday, April 4:

GBP/USD holds gains after registering over 0.5% losses in the previous day, trading around 1.3230 during the Asian hours on Friday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair remains within the descending channel pattern.

USD/CHF remains steady after registering over 0.5% gains in the previous day, trading around 0.7980 during the Asian hours. The pair moves little as trading activity may remain subdued due to the Good Friday holiday.

The AUD/USD pair gains ground near 0.6900 during the early European trading hours on Friday. Hawkish tone from the Reserve Bank of Australia (RBA) underpins the Australian Dollar (AUD) against the Greenback. Trading volumes are likely to be thin due to the Good Friday holiday.

Silver price (XAG/USD) remains in the negative territory after experiencing volatility, trading around $73.10 during the Asian hours on Friday.

GBP/USD inches higher after registering modest losses in the previous day, trading around 1.3230 during the Asian hours on Friday. Trading activity may remain subdued due to the Good Friday holiday.

The NZD/USD pair extends the decline to a near four-month low around 0.5710 during the Asian trading hours on Friday. The New Zealand Dollar (NZD) softens against the US Dollar (USD) on the downbeat Chinese economic data and heightened geopolitical tensions in the Middle East.

The USD/JPY pair trades on a flat note near 159.60 during the Asian trading hours on Friday. Trading volumes are likely to be thin due to the Good Friday holiday. All eyes will be on the US March Nonfarm Payrolls (NFP) report, which will be published later on Friday. 

AUD/USD gains ground after registering modest losses in the previous day, trading around 0.6910 during the Asian hours on Friday. The pair gains as the US Dollar (USD) softens, even amid stronger safe-haven demand due to escalating Middle East tensions.

The EUR/USD pair posts modest gains around 1.1540 during the early Asian session on Friday. Trading volumes are likely to be thin due to the Good Friday holiday. The US Nonfarm Payrolls (NFP) report for March will take center stage later on Friday. 

The GBP/JPY consolidates at around 211.00 as risk appetite turned sour due to increasing tensions in the Middle East after US President Donald Trump revealed that the US forces' mission would extend between two and three weeks.

The NZD/USD pair is trading around the 0.5710 region, maintaining a bearish tone amid heightened geopolitical tensions and risk aversion, as the US Dollar (USD) strengthens.

Thursday's session was a downer for the British Pound. GBP/USD opened near 1.3300, sold off steadily through the day, and closed around 1.3220, losing 0.65%.

USD/JPY is heading into Friday's Asia session trading just below 159.60, and the setup going into the long Easter weekend is about as uncomfortable as it gets for Yen traders on either side.

The Australian Dollar retreats by 0.36% on Thursday following harsh remarks by US President Donald Trump, who, rather than seeking to de-escalate the conflict, warned that it would last 2 to 3 weeks and would hit Iran harder.

Silver (XAG/USD) trades with a downside bias on Thursday, coming under pressure as macro headwinds stemming from the ongoing US–Israel war with Iran weigh on sentiment.

Commerzbank’s Volkmar Baur expects the Chinese Yuan (CNY) to edge higher against the US Dollar (USD) while staying undervalued versus most other currencies. The bank projects USD/CNY at 6.90 by June 2026 and 6.70 by late 2027, with EUR/CNY broadly stable.

EUR/USD trades under pressure on Thursday as ongoing Middle East tensions keep the US Dollar (USD) broadly supported, weighing on the Euro(EUR).

Commerzbank’s Tatha Ghose argues that upcoming Turkish CPI data are largely obsolete given the looming impact of higher energy prices. He expects a strong March monthly print but stresses that external-shock inflation may be treated as transient by FX markets.

The USD/JPY pair is trading near the 159.40 price region on Thursday, having surged earlier in the day, though price action turned more volatile during the American session as headlines briefly supported risk sentiment.

The British Pound retreats during the North American session after US President Donald Trump escalated the conflict, hinting that it will at least extend for 2 to 3 weeks. At the time of writing, the GBP/USD trades at 1.32144, down 0.40%.

EUR/GBP edges higher on Thursday, though it lacks strong follow-through buying, as choppy price action persists amid heightened volatility across the FX space.

The AUD/USD fell to near the 0.6890 price region on Thursday, as markets turned sour amid escalating Middle East fighting and a surge in the safe-haven US Dollar (USD).