ForexLive European FX News: Slow Trading Ahead of US Jobs Data

Friday, 5 April 2024, 11:44
The ForexLive European FX news wrap highlights important updates including Switzerland's foreign currency reserves hitting CHF 715B, German Factory Orders missing expectations, and hints at ECB rate cuts. Market reactions from major currency pairs like EUR/USD, GBP/USD, and USD/JPY are analyzed, with geopolitical risks looming over the weekend.
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ForexLive European FX News: Slow Trading Ahead of US Jobs Data

ForexLive European FX News

The recent ForexLive European FX news wrap brought several key updates in the financial world. Here are the highlights:

Headlines:

  • Switzerland March foreign currency reserves CHF 715B vs CHF 678B prior
  • Japan's PM Kishida to Take Appropriate Action if There are Excessive FX Moves
  • German Factory Orders 0.2% m/m vs 0.6% expected
  • ECB Likely to Start Cutting Rates Once a Quarter Starting June
  • UK Construction PMI 50.2 vs 49.8 Expected
  • Eurozone Retail Sales m/m -0.5% vs -0.3% expected

Markets:

  1. EUR/USD is uneventful after the German data, but US jobs print is expected.
  2. GBP/USD didn’t react too much after better than expected Constructions PMI.
  3. USD/JPY is range bound as Japan PM Kishida said what we already know.

Geopolitical risks loom over the weekend.

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