Forex Today: Cautious trade prevails ahead of US Payrolls


Another negative session saw the Greenback shed further ground amidst the dominating appetite for riskier assets, all prior to the release of key Non-farm Payrolls on Friday. Fed speakers kept the prudence stance, while the ECB Accounts opened the door to June rate cuts.

Here is what you need to know on Friday, April 5:

Further weakness prompted the USD Index (DXY) to drop to new lows in the sub-104.00 region. On April 5, all the attention will be on the release of Non-farm Payrolls along with the Unemployment Rate and speeches by FOMCs Musalem, Kugler, Barkin, and Bowman.

EUR/USD kept the constructive tone intact and rose to new multi-day highs near 1.0880. On April 5, the euro docket will include Retail Sales in the Eurozone for the month of February.

GBP/USD advanced decently and came in just short of the key 1.2700 the figure, up for the third session in a row. The S&P Global Construction PMI is due in the UK calendar on April 5.

USD/JPY alternated gains with losses around 151.70, always trapped in the multi-day consolidative range. The Household Spending and preliminary readings of the Coincident Index and the Leading Economic Index are due on April 5 in the Japanese docket.

AUD/USD advanced strongly and managed to surpass the key 0.6600 barrier, or multi-session peaks. On April 4, the Balance of Trade results are expected.

WTI traded in an inconclusive session, although they remained close to their recent yearly peaks around the $86.00 mark per barrel.

Gold prices saw their needle-like rally take a break after hitting an all-time top just above the $2,300 mark per troy ounce. Silver prices, in the meantime, ended the session barely changed despite advancing to new tops past the $27.00 mark per ounce earlier in the session.

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