Forex Market Report, 5th of April 2019

The U.S. Dollar advanced on Thursday’s session as jobless claims in the U.S. fell to a multi-decade low, boosting optimism about the labor market ahead of the significant non-farm payrolls data due on Friday.

In other news, the U.S. and China are close to finalizing a trade deal during talks this week, but negotiators still need to solve out some sticking points as they push for a final summit between the U.S. President Donald Trump and Chinese President Xi Jinping.

The U.S. Dollar Index which measures the strength of Greenback against a basket of six major currencies surged and finished the session at 96.92.

Over in Europe, the single currency fell against the U.S. Dollar as weak economic data in Germany and a report that Italy would lower its growth forecasts fed fears about weakening growth in the region. EURUSD closed the session at 1.12196.

Meanwhile, the Sterling fell against the U.S. Dollar as concerns that the U.K. may be headed for a protracted Brexit delay are growing. GBPUSD closed the session at 1.30723.

Regarding Safe-havens, the Swiss Franc declined against the U.S. Dollar to settle at 0.99993 USDCHF. Similarly, the Japanese Yen fell against the Greenback to settle at 111.648 USDJPY.

Gold prices edged higher on Thursday after reaching a 10-week low earlier in the session as investors are still looking for clarity regarding the U.S.-China trade talks. The precious metal closed the session at 1292.

Meanwhile, the Canadian dollar fell against its U.S. counterpart as oil prices stabilized below this year’s high and as investors are waiting for domestic jobs data on Friday. The USDCAD closed the session at 1.33576.

Over in Asia, the Aussie Dollar was almost flat against the Greenback and ended the session at 0.71120 AUDUSD.

Cryptocurrencies were lower on Thursday’s session after hitting a multi-month high on Wednesday, Bitcoin, Ethereum, and Litecoin declined to settle at 4829.2 BTCUSD, 155.46 ETHUSD, and 79.97 LTCUSD respectively.

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