Market Roundup
• Canada Core Retail Sales (MoM) (Feb) 0.5%, 0.8%forecast, 1.0%previous
• Canada Retail Sales (MoM) (Feb) 0.7%, 0.9% forecast, 1.2% previous
• Canada Retail Sales (MoM) (Mar) 0.6%, , 0.7% previous
• Belgium NBB Business Climate (Apr) -14.2, -14.8 forecast, -13.7 previous
• US Michigan 5-Year Inflation Expectations (Apr) 3.5%, 3.4% forecast, 3.2% previous
• US Michigan Consumer Expectations (Apr) 48.1, 46.1 forecast, 51.7 previous
• US Michigan 1-Year Inflation Expectations (Apr) 4.7%, 4.8% forecast, 3.8% previous
• US Michigan Consumer Sentiment (Apr) 49.8, 47.6 forecast, 53.3 previous
• US Michigan Current Conditions (Apr) 52.5, 50.1 forecast, 55.8 previous
• Canada Budget Balance (YoY) (Feb) -25.55B , -31.21B previous
• Canada Budget Balance (Feb) 5.66B , -5.07B previous
• US U.S. Baker Hughes Oil Rig Count 407 , 410 previous
• US U.S. Baker Hughes Total Rig Count 544 , 543 previous
Looking Ahead Economic Data (GMT)
•No Data Ahead
Looking Ahead Events And Other Releases (GMT)
•No Events Ahead
Currency Summaries
EUR/USD : The euro edged higher against dollar on Friday as traders grew wary amid rising uncertainty around global growth and inflation. Investors grew increasingly concerned that the ongoing Middle East conflict could keep energy supplies disrupted for longer, driving up costs and fueling inflation. German business sentiment deteriorated more than expected in April as the Iran war threatens the recovery of Europe’s biggest economy. Germany’s Ifo Business Climate Index fell 1.9 points to 84.4 in April 2026, its lowest since May 2020 during the COVID-19 pandemic and below expectations of 85.5. The European Central Bank is expected to hold its deposit rate on April 30, but just over half of economists polled forecast a hike in June, as policymakers look to shield the euro zone economy from a war-induced energy shock. Immediate resistance can be seen at 1.1735(50%fib), an upside break can trigger rise towards 1.1800(Psychological level).On the downside, immediate support is seen at 1.1677(SMA20), a break below could take the pair towards 1.1596(61.8%fib).
GBP/USD: The pound strengthened against the dollar on Friday as solid retail sales offset the impact of geopolitical risks.The pair recovered notably from the 1.3455 low, as upbeat UK retail sales data provided a bullish boost to sentiment.Even with today’s rebound, soft inflation expectations from the Bank of England could limit sterling’s upside as tensions in the Middle East cool. The data has intensified expectations for Bank of England rate hikes, with markets fully pricing in two quarter-point increases in 2026 and assigning a probability to a third by year-end.The Bank of England is set to meet on Thursday, with money markets pricing in a rate hike by year-end, though no change is expected at next week’s meeting. Immediate resistance can be seen at 1.3538(38.2%fib), an upside break can trigger rise towards 1.3598(23.6%fib).On the downside, immediate support is seen at 1.3436(50%fib), a break below could take the pair towards 1.3407(SMA 20).
USD/CAD: The Canadian dollar strengthened against its U.S. counterpart on Friday as the greenback posted broad-based declines and after domestic data showed a solid increase in retail sales but a more modest rise in sales volumes. The Canadian dollar strengthened against its U.S. counterpart on Friday as the greenback posted broad-based declines and after domestic data showed a solid increase in retail sales but a more modest rise in sales volumes. The price of oil CLc1, one of Canada's major exports, settled 1.5% lower at $94.40 a barrel. The loonie was trading 0.2% higher at 1.3665 per U.S. dollar For the week, the currency was also up 0.2%, marking its third straight weekly gain. Immediate resistance can be seen at 1.3727(50%fib), an upside break can trigger rise towards 1.3799(SMA 20).On the downside, immediate support is seen at 1.3630 (38.2%fib), a break below could take the pair towards 1.3595(Lower BB)
USD/JPY: The U.S. dollar edged lower on Friday as stalled peace negotiations between the U.S. and Iran dampened hopes for an immediate easing of Middle East tensions.Lebanon and Israel extended their ceasefire for three weeks ahead of its expiration on Sunday, Iran showed off its control over the Strait of Hormuz by releasing footage of its commandos storming a huge cargo ship, leaving the timing of the reopening of the world's most important shipping corridor uncertain and keeping oil prices elevated.The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, slipped 0.29% to 98.51 but remained on track for a weekly gain of 0.5%. Immediate resistance can be seen at 159.43(Daily high) an upside break can trigger rise towards 160.00(Psychological level) .On the downside, immediate support is seen at 158.26(SMA 20) a break below could take the pair towards 158.41(Lower BB).
Equities Recap
European shares dropped on Friday and were on course to notch their first weekly loss in five as investors fretted about an inflation shock arising from disrupted energy supplies due to Middle East turmoil.
UK's benchmark FTSE 100 closed down by 0.75 percent, Germany's Dax ended down by 0.11 percent, France’s CAC finished the day down by 0.84 percent.
The S&P 500 and Nasdaq Composite closed at record highs on Friday, supported by optimism over potential U.S.–Iran negotiations and a surge in Intel shares, which extended the rally in semiconductor stocks.
Dow Jones closed up by 0.16 percent, S&P 500 closed up by 0.80 percent, Nasdaq settled up by 1.63 percent.
Commodities Recap
Gold rose on Friday, but was on track for its first weekly loss in the last five weeks, as lingering inflation concerns and the uncertain state of the U.S.-Iran war kept markets on edge.
Spot gold was up 0.6% at $4,721.15 per ounce at 01:41 p.m. ET (1741 GMT), having risen more than 1% earlier in the session, and is down more than 2% so far this week.U.S. gold futures for June delivery settled 0.4% higher to $4,740.90.
Oil prices dipped as optimism over potential U.S.-Iran peace talks offset supply concerns.U.S. crude fell 1.51% to settle at $94.40 per barrel, while Brent settled at $105.33 per barrel, down 0.25% on the day.
