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Nikhil Khandelwal
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USD Index

Sustaining at the higher vicinity near 97 levels, the USD Index that computes the greenback against the six major rival currencies started on the Friday Asian Session with a slip of around ten pips. The slight fall in the index does account to the above-consensus German Industrial reports released in the same time frame. As the Euro got overweighed against the greenback, the entire balance of the USD loosened. The index, however, generated some sound momentum in the European session escalating from 97.20 level touching 97.28 level in the middle of positive US-Sino trade developments. Reports published that the trade talks are imminent to end soon and a trade deal will get signed between the two Superpowers.

USD Index 5 Min 5 April 2019

The most awaited US March Non-Farm Payrolls (NFP) and March Average Hourly MoM Earnings came out at 12:30 GMT. The former surprised the market after publishing figures of 196K which are above the market expectation of 180K. The USD Index accelerated upwards drastically reaching 97.39 level from the support line of 97.22. However, the USD Index faced some simultaneous pullbacks too when the Average Hourly numbers missed the consensus estimate.

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EUR/USD

During the Asian session, the euro pair went up slightly after the release of higher than expected German February MoM Industrial Production. The consensus estimated the Industrial figures to come around 0.5 percent while the actual numbers reported 0.2 percent above the market expectation. Gains started shedding off after the release of the mixed US monthly job reports. EUR/USD thereon remained capped near 1.1238/40 resistance levels. At 17:30 GMT, the pair was trading at 1.1214 level.

USD/CAD

USDCAD 5 Min 5 April 2019

The Loonie pair opened up today near 1.3366 levels. The USD/CAD had created fresh day high near 1.3395 levels after the release of mixed Feb reports consisting of the US NFP and Average Hourly Earnings Reports. The pair showed an additional slight upward push after the release of poor Canadian March Net MoM Change in Employment figures.

GBP/USD

The cable had a small jump from 1.3079 to 1.3122 level at the start of Friday morning. Later the day, the pair never saw north properly. GBP/USD kept plunging throughout the day underpinned multiple rationales. One of them was, of course, the strengthening of the US Dollar Index amid positive US March NFP reports. Another pain that still keeps disturbing the cable was the Brexit chaos. GBP/USD had reached near fresh lows of  1.2990 levels. Latest news suggests a higher possibility of a “Flexible” Brexit extension on May’s request for a short delay.

USD/JPY

The Yen pair kicked off the day with a robust green candlestick at 111.67/77 after US-Sino trade developments. Later in the Asian session, the Cabinet Office released the February Japanese Leading Economic Index which reported higher than the consensus. In the same period, February Japanese Coincident Index reported 98.8 points, 0.71 percent up to the previous 98.1 points. This positive release got discounted in the USD/JPY with a slump of 0.08 percent. The pair made fresh daily high at 12:30 GMT after the release of positive US Non-Farm Payroll reports. These reports elevated the greenback, thereby uplifting the USD/JPY. The pair had reached from 111.59 to 111.81 levels.

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