• IMF wants China-U.S. trade deal to address structural issues
• ECB model suggests euro zone growth could slow further -sources
• UK parliament very likely to consider new Brexit referendum -Hammond
• U.S. opposes more IMF funding, at odds with other stakeholders
• US Mar Import Prices MM, 0.6%, 0.4% forecast, 0.6% previous, 1.0% revised
• US Mar Export Prices MM, 0.7%, 0.2% forecast, 0.6% previous, 0.7% revised
• US Apr U Mich Sentiment Prelim, 96.9, 98.0 forecast, 98.4 previous
• US Apr U Mich Conditions Prelim, 114.2, 112.5 forecast, 113.3 previous
• US Apr U Mich Expectations Prelim, 85.8, 88.5 forecast, 88.8 previous
• Euro must raise profile amid questions over dollar domination -Centeno
Looking Ahead – Economic Data (GMT)
• No major economic data scheduled
Looking Ahead – Events, Other Releases (GMT)
• 13 Apr 16:30 ECB’s Mario Draghi speaks at a news conference in Washington D.C.
• 15 Apr 12:30 Chicago Fed’s Charles Evans appears on CNBC's “Squawk Box”in New York
• 15 Apr 16:00 BoE ‘s Jonathan Haskel participates at the Royal Economic Society Annual Conference, London
• 15 Apr 16:00 Chicago Fed’s Charles Evans speaks before the New York Association for Business Economics in New York
EUR/USD: The euro rose against dollar on Friday, in a move dealers said may have been driven by anticipated currency demand arising from a Japanese bank's plans to purchase a German multi-billion dollar aviation finance business. The common currency jumped late in Friday's Asia session and then extended gains in the European session to a 2-1/2-week high. Markets are often quiet in the hours before European trade opens and thin liquidity has in recent months caused sudden jolts or “flash crashes” in major currencies including the Swiss franc. The euro rose 0.6 percent to $1.1295, its highest since March 26. The common currency also advanced about 0.8 percent to 126.69 yen, its strongest since March 20. Immediate resistance can be seen at 1.1346 (100 DMA), an upside break can trigger rise towards 1.1386 (Higher Bollinger Band).On the downside, immediate support is seen at 1.1244 (9 DMA), a break below could take the pair towards 1.1200 (Psychological level).
GBP/USD: Sterling strengthened against the dollar on Friday, as the immediate risks around Brexit receded after the postponement of the departure date and as the dollar suffered a broad selloff, although collapsing volatility signalled a reluctance to bet big. European Union leaders this week agreed to an up to six-month delay to Brexit, removing the imminent threat of a no-deal exit but also leaving the likelihood of months of political uncertainty in the United Kingdom. Sterling rose to $1.3130,up 0.6 percent. The pound remains stuck in a recent trading range, and having strengthened in 2019 Hardman said that without fresh cues on the Brexit outcome the British currency was unlikely to move significantly higher. Immediate resistance can be seen at 1.13128 (21 DMA), an upside break can trigger rise towards 1.3266 (Higher Bollinger Band).On the downside, immediate support is seen at 1.2987 (April 5th low), a break below could take the pair towards 1.2943 (100 DMA).
USD/CAD: The Canadian dollar strengthened against its U.S. counterpart on Friday and was on track to end higher for the week as oil prices rose and data showed signs of stabilization in China's economy. China’s exports rebounded in March but imports shrank for a fourth straight month and at a sharper pace, painting a mixed picture of the economy as trade talks with the United States reach their endgame. Oil prices rose on Friday as involuntary supply cuts from Venezuela, Libya and Iran supported perceptions of a tightening market, already underpinned by a production reduction deal from OPEC and its allies. U.S. crude oil futures were up 1.1% at $64.27 a barrel. The Canadian dollar was last trading 0.5% higher at 1.3332 to the greenback. Immediate resistance can be seen at 1.3398 (50% retracement level), an upside break can trigger rise towards 1.3450 (March 28th high).On the downside, immediate support is seen at 1.3298 (50 DMA), a break below could take the pair towards 1.3274 (Lower Bollinger Band).
USD/JPY: The U.S. dollar strengthened against the yen on Friday, as strong U.S. labour and inflation data soothed concerns about the world's largest economy. The number of Americans filing applications for unemployment benefits fell to a 49-1/2-year low last week, pointing to sustained labor market strength that could temper expectations of a sharp slowdown in economic growth. U.S. producer prices increased by the most in five months in March, but underlying wholesale inflation was tame.The dollar was 0.34 higher versus the Japanese yen at 112.01. Strong resistance can be seen at 112.09 (38.2% retracement level), an upside break can trigger rise towards 112.86 (23.6% retracement level).On the downside, immediate support is seen at 111.47 (50% retracement level), a break below could take the pair towards 110.92 (61.8% retracement level).
European shares finished higher for a third straight day on Friday, with investor sentiment getting a boost from JP Morgan setting a strong start to U.S. earnings and amid signs of stabilization in China's economy.
The UK's benchmark FTSE 100 closed up by 0.14 percent, FTSEurofirst 300 ended the day up by 0.10 percent, Germany's Dax ended up by 0.54 percent, and France’s CAC finished the up by 0.33 percent.
U.S. stocks closed near record highs on Friday after the largest U.S. bank, JPMorgan Chase & Co, soothed worries that the first-quarter earnings season would curb Wall Street's big rally back from last year's slump.
Dow Jones closed up by 1.03 percent, S&P 500 ended up 0.66 percent, Nasdaq finished the day up by 0.46 percent.
U.S. Treasury yields rose to three-week highs on Friday as investors put money into riskier assets after data showed Chinese exports rebounded in March, easing concerns about global economic growth.
In afternoon trading, U.S. 10-year note yields were 2.556%, up from 2.504% late on Thursday. Over the last two weeks, 10-year yields have risen more than 13 basis points. Yields on U.S. 30-year bonds were 2.968% , up from 2.937% on Thursday.
Oil prices rose 1 percent on Friday as involuntary supply cuts from Venezuela and Iran plus conflict in Libya supported perceptions of a tightening crude market, while upbeat Chinese economic data eased concerns about waning crude demand.
Brent crude oil futures rallied 99 cents, or 1.4 percent, to $71.82 a barrel by (1805 GMT).U.S. West Texas Intermediate (WTI) crude futures rose 66 cents, or 1 percent, to $64.24 a barrel.
Gold inched lower on Friday, having posted its biggest daily decline in two weeks in the previous session, as the impact of a weak dollar was offset by gains on Wall Street.
Spot gold edged 0.1 percent lower to $1,290.71 per ounce as of 3:30 p.m. EDT (1930 GMT).U.S. gold futures settled 0.1 percent higher at $1,295.2 an ounce.