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).

Commerzbank’s Michael Pfister argues that Mexico’s strong US export performance and extensive USMCA compliance have cushioned the Mexican economy and the Peso from recent US tariff shocks.

GBP/JPY trades with a mild downside bias on Thursday, though it lacks strong follow-through selling and trims part of its intraday losses as markets remain volatile.

Rabobank’s Senior FX Strategist Jane Foley discusses recent Swiss inflation data and implications for the Swiss Franc. Foley notes that low Swiss CPI reduces pressure on the SNB to cut rates below zero, while credible FX intervention and safe-haven demand should keep CHF firm.

Brazil Industrial Output (YoY) registered at -0.7% above expectations (-1%) in February

Brazil Industrial Output (MoM) came in at 0.9%, above forecasts (0.7%) in February

Silver (XAG/USD) has lost more than $10, hammered by a risk-averse reaction to US President Trump's televised message on Wednesday. The precious metal is testing levels below $71.00 at the time of writing, after peaking at $81.13 on Wednesday, as the Dollar prevails in risk-averse markets.

The Canadian Dollar (CAD) trades higher against its major currency peers, except the US Dollar (USD), during the European trading session on Thursday.

The Australian Dollar (AUD) trades lower against its major currency peers, is down 0.75% to near 0.6875 against the US Dollar (USD) during the European trading session on Thursday.

The US Dollar (USD) is outperforming its peers on Thursday, and rallies about 0.6% against the Japanese Yen on Thursday.

Commerzbank’s Michael Pfister highlights that Bank of England (BoE) Governor Andrew Bailey has pushed back against aggressive tightening expectations, stressing labour market weakness and limited pricing power.

The EUR/JPY pair trades in a tight range around 184.00 during the European trading session on Thursday. The pair consolidates as investors seek fresh cues regarding how monetary policies by the European Central Bank (ECB) and the Bank of Japan (BoJ) will flare going ahead.

Brazil Fipe's IPC Inflation climbed from previous 0.25% to 0.59% in March

MUFG’s Senior Currency Analyst Michael Wan analyzes new RBI measures restricting Indian Rupee non-deliverable derivatives and recent limits on onshore USD/INR positions. He argues these steps deepen the divide between onshore and offshore markets and aim to curb INR weakness.

EUR/GBP’s reversal from one-month highs at 0.8740 found buyers right above 0.08700 on Wednesday, and the pair has trimmed losses on Thursday, returning to the 0.8720 area at the time of writing.The Euro (EUR) seems to be faring better than the British Pound (GBP) amid the risk-averse market mood, an