Pound (GBP) rises against weaker rivals
The pound (GBP) trended higher against its weaker rivals on Thursday, with a slight improvement in the market mood helping to lift the increasingly risk-sensitive currency.
However, a lack of UK economic data muted GBP's movement somewhat.
Although British data is absent from the calendar today, a speech this evening from Bank of England (BoE) Deputy Governor Sarah Breeden could impact GBP. If Breeden signals that slowing global growth could necessitate looser monetary policy, Sterling could soften.
Euro (EUR) falls following ECB rate decision
The euro (EUR) faced pressure on Thursday as investors reacted to the European Central Bank's (ECB) latest interest rate decision.
Although the bank's 25bps rate cut was priced in by markets, warnings from ECB President Christine Lagarde about the impact of US tariffs on Eurozone growth dented EUR.
Today, the Eurozone's latest consumer confidence report could impact EUR. Another decline in morale in April may weigh on the common currency.
US dollar (USD) mixed as market mood shifts
The US dollar (USD) fluctuated on Thursday as a changing market mood impacted the safe-haven currency.
In addition, uncertainty around US monetary policy added to the mixed movement. Federal Reserve Chair Jerome Powell indicated that US tariffs could make it harder to cut interest rates, which drew the ire of US President Donald Trump.
Today, Fed policymakers Patrick Harker and Neel Kashkari are due to deliver speeches. If they echo Powell's comments around inflation, USD could potentially rise amid fading bets on more Fed rate cuts.
Canadian dollar (CAD) slips despite rising oil
The Canadian dollar (CAD) softened slightly on Thursday, with the crude-sensitive currency unable to gain ground despite rising oil prices.
With market-moving Canadian data thin on the ground today, oil price movements could drive the commodity-linked 'loonie'.
Australian dollar (AUD) unsure in absence of data
The Australian dollar (AUD) found itself on uneven footing overnight, as a lack of data and mixed market mood left the 'Aussie' with little direction.
New Zealand dollar (NZD) firms following trade data
The New Zealand dollar (NZD) was buoyed by better-than-forecast trade figures last night, with both exports and imports beating forecasts and New Zealand's trade surplus unexpectedly widening.
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