US NFP grows 177k in April, wage gains losing momentum.The US labor market delivered another month of solid job creation in April, with non-farm payrolls rising by 177k, beating forecast of 130k. However, the initial blowout March figure was revised down from 228k to 185k, tempering some of the headline strength.

United States Average Hourly Earnings (YoY) came in at 3.8%, below expectations (3.9%) in April.United States Average Hourly Earnings (YoY) came in at 3.8%, below expectations (3.9%) in April

United States Average Hourly Earnings (MoM) registered at 0.2%, below expectations (0.3%) in April.United States Average Hourly Earnings (MoM) registered at 0.2%, below expectations (0.3%) in April

United States Average Weekly Hours came in at 34.3, above forecasts (34.2) in April.United States Average Weekly Hours came in at 34.3, above forecasts (34.2) in April

Dollar Index (DXY) Forming Elliott Wave Zig Zag Pattern.Hello fellow traders. In this technical article we're going to look at the Elliott Wave charts of Dollar Index DXY published in members area of the website.

Australian Dollar Rises after PPI Accelerates, US Nonfarm Payrolls Next.Australia's Producer Price Index rose 0.9% in the first quarter, up from 0.8% in Q4 and edging above the market estimate of 0.8%. Annually, PPI remained at 3.7%, still the lowest level in three years.

Pound Sterling Price News and Forecast: GBP rises vs. USD, struggles against other peers.The Pound Sterling (GBP) bounces back to near 1.3320 against the US Dollar (USD) on Friday after a three-day correction. The GBP/USD pair gains as the US Dollar retraces ahead of the United States (US) Nonfarm Payrolls (NFP) data for April, which will be published at 12:30 GMT.

US Dollar retreats slightly ahead of Nonfarm Payrolls release .The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is seeing some rejection and heads back to 99.75 at the time of writing on Friday after a false break above the 100-marker. The Greenback is softening a touch on the back of headlines that China is considering to start tariff negotiations with the Trump administration.

India Bank Loan Growth fell from previous 11% to 10.3% in April 14.India Bank Loan Growth fell from previous 11% to 10.3% in April 14

India FX Reserves, USD: $688.13B (April 21) vs $686.15B.India FX Reserves, USD: $688.13B (April 21) vs $686.15B

Rupee pares initial gains, settles 1 paisa higher at 84.53 against US dollar.The rupee on Friday hit a seven-month high and rose past the 84 per dollar level on sustained foreign fund inflows and stronger domestic data, but pared the gains and settled for the day higher by just 1 paisa at 84.53 against the greenback.

India's BSE Sensex trimmed early gains but still closed about 0.3% higher at 80,502 on Friday — its highest level since December 17, 2024 — driven by optimism over easing global trade tensions and the prospect of a US-India trade deal. Additional support came from sustained foreign fund inflows and record-high GST collections in April. However, gains were capped by lingering border tensions with Pakistan and sector-specific concerns following the Supreme Court’s rejection of Bhushan Power & Steel’s resolution plan. Among stock, Adani Ports led the rally, jumping 4.1% after reporting a 50% surge in March-quarter net profit and issuing an improved year-on-year revenue growth forecast for the current fiscal year. Other notable performers included banks, auto stocks and techs. On the flip side, Nestle India saw the steepest decline (-2%). For the week, the Sensex rose about 1.6%.

US reluctant to exempt Japan from 10% reciprocal tariff - Kyodo.Well, this is not going well... The problem here is that US might want to keep 10% for everyone and sell it as good news, which the market might even like, but the Japanese are not budging on it.

Rupee hits six-month peak before retreating on likely central bank intervention.The Indian rupee soared past 84 per U.S. dollar to touch a near six-month peak on Friday before reversing course on the back of likely dollar buying intervention by the central bank, via state-run lenders, traders said.

Portugal's GDP rose by 1.6% year-on-year in Q1 2025, slowing from a 2.8% growth in the previous three-month period, according to preliminary estimates. The positive contribution of domestic demand to growth decreased in the first quarter due to a slowdown in private consumption. At the same time, the negative impact of net external demand became more pronounced, reflecting a deceleration in exports of goods and services. On a quarterly basis, the economy contracted by 0.5% in Q1, after a downwardly revised 1.4% rise in the previous period, contrary to analyst expectations of 0.4% growth.

USD/JPY corrects to near 144.50 as US Dollar retraces ahead of US NFP data.The USD/JPY pair faces selling pressure after a three-day recovery move around 146.00, earlier in the day, and corrects to near 144.50 during European trading hours on Friday. The pair retraces as the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, gives up Thursday's gains and slides to near 99.65.

The Portuguese economy shrank by 0.5% on quarter in Q1 2025, after a downwardly revised 1.4% rise in the previous three-month period, contrary to analyst expectations of 0.4% growth, preliminary estimates showed. Net external demand contributed negatively, while domestic demand was neutral—both components had supported growth in the prior quarter. On a yearly, the economy rose by 1.6%, slowing from a 2.8% expansion in the previous quarter.

Wholesale prices in Pakistan fell 2.2% year-on-year in April 2025, slipping further from a 1.6% decrease in the previous month. This marked the third consecutive session of falling wholesale prices and the sharpest in the sequence, as deflation worsened for agriculture forestry and fishery (-7.8% vs -6.3% in March), and other transportable goods (-4.1%vs -3.2%). In addition, prices eased for food, beverages, tobacco, textiles and leather products (6.3% vs 7.0%) and metal products, machinery and equipment (2.0% vs 2.1%). Meanwhile, deflation slowed for ores/minerals, electricity, gas and water (-8.1%vs -8.8%). Compared to the previous month, wholesale prices rose 1.3% in April 2025.

The annual inflation rate in Pakistan eased for the sixth consecutive month to 0.3% in April 2025 from 0.7% in the previous month. This marked the lowest reading since August 1968, as deflation worsened for transport (-3.9% vs -1.2% in March) and housing and utilities (-2.6% vs -2.2%). Moreover, prices slowed for clothing and footwear (9.1% vs 13.5%) and education (10.9% vs 11.9%). Meanwhile, prices accelerated for alcoholic beverages and tobacco (7.9% vs 7.5%), furnishing and household equipment maintenance (4.0% vs 3.7%), health (14.2% vs 13.8%), recreation and culture (7.8% vs 7.7%), and miscellaneous goods and services (13.8% vs 13.4%). In addition, prices fell at a softer pace for food & non-alcoholic beverages (-4.8% vs -5.1%), particularly perishable food items (-26.7%). On a monthly basis, consumer prices dropped by 0.8% in April 2025, reversing a 0.9% rise in the previous month.

China's Feint Weighs on the Greenback Ahead of Today's Employment Report.Overview: Ideas that the US economy is not doing as poorly as many feared after the Q1 GDP contraction was dissected helped the dollar appear to confirm a bottoming pattern yesterday. However, indications that China is considering the US request for trade talks have bolstered risk-appetites today, ahead of the US jobs report and dragged the greenback lower.

Sterling edges up against weaker dollar ahead of key U.S. data.Sterling edged up against a weaker dollar on Friday, staying near a three-year high scaled earlier in the week as the U.S. currency lost ground over U.S. President Donald Trump's announced sweeping tariffs.

celand’s seasonally adjusted unemployment rate eased to 3.7% in March 2025 from 5.5% in the previous month. This marked the lowest reading since November 2024, as the number of unemployed persons decreased by 4,200 month-on-month to 8,700. Of these, 4,000 were unemployed men and 4,700 were women. The youth unemployment rate, which measures job-seekers between 16 and 24 years old, fell to 12.5% from an upwardly revised 12.9% in February. Meanwhile, total employment rose by 7,000 from a month earlier to 226,900 in March 2025 from a downwardly revised 219,900 in the previous month. The labor force participation rate rose to 81.6% in March 2025 from an upwardly revised 81.1% in the previous month.

Turkey's trade deficit widened to USD 12.04 billion in April 2025 from USD 9.9 billion in the corresponding month of the previous year, preliminary estimates from the Trade Ministry showed. Exports increased by 8.5% from a year earlier to USD 20.92 billion amid the tariff announcement from the US, while imports rose at a faster 12.9% to USD 32.96 billion. Considering the first four months of the year, the country recorded a trade deficit of USD 34.53 billion, with exports increasing by 3.9% while imports grew 6.7%.

Portugal Gross Domestic Product (QoQ) down to -0.5% in 1Q from previous 1.5%.Portugal Gross Domestic Product (QoQ) down to -0.5% in 1Q from previous 1.5%

USDHKD decreased to a 4-year low of 7.75. Over the past 4 weeks, US Dollar Hong Kong Dollar lost 0.34%, and in the last 12 months, it decreased 0.76%.

The annual inflation rate in Kazakhstan rose to 10.7% in April 2025, the highest in 18 months, up from 10% in the previous month. The main upward pressure came from price increases in food products (8.5% vs 7.6% in March) and paid services (15.7% vs 14.3%), which was partially offset by a slowdown in non-food product inflation (8.9% vs 9.1%). On a monthly basis, consumer prices rose by 1.2%, marking a slowdown from the 1.3% increase in the previous month.

The Stanbic IBTC Bank Nigeria PMI edged lower to 54.2 in April 2025 from over one-year high of 54.3 in the previous month. Still, this marked the fifth consecutive month of expansion in the private sector, as output growth remained robust, posting its strongest performance since January 2024. Moreover, employment levels rose for the fifth month in a row, reaching an eight-month high, as firms responded to increased workloads and made efforts to meet demand. However, backlogs of work continued to grow, even as companies ramped up hiring and purchasing activity. On the inflation front, input costs surged due to rising raw material prices and currency depreciation. This drove a further increase in output charges, with inflation slightly stronger than in the previous month. Looking ahead, businesses remained optimistic about the 12-month outlook for business activity, although sentiment weakened for the third consecutive month.

The yield on Italy’s 10-year BTP held steady at 3.58% on Friday, as investors weighed stronger-than-expected Eurozone inflation data and awaited the latest U.S. jobs report. Headline inflation in the bloc remained at 2.2% in April, slightly above the forecast of 2.1%, while core inflation accelerated to 2.7% from 2.4%, exceeding expectations of 2.5%. The figures reinforced market expectations that the European Central Bank will deliver 60 basis points of rate cuts by year-end. In the U.S., job growth is expected to have slowed in April—the first full month since President Trump’s tariff announcements—adding to concerns following weak GDP data and potentially influencing the Federal Reserve’s policy outlook. Meanwhile, global risk sentiment improved amid signs of easing U.S.–China trade tensions, after Beijing said it is "evaluating" recent U.S. proposals for renewed negotiations.

France’s 10-year OAT bounced back to 3.19% on Friday following stronger-than-expected Eurozone inflation data. Consumer prices in the bloc rose 2.2% annually in April, just above the 2.1% forecast, while core inflation accelerated to 2.7% from 2.4%, also exceeding market expectations of 2.5%. The data reinforced investor expectations for 60 basis points of rate cuts by the European Central Bank by year-end. Elsewhere, global markets were focused on the upcoming U.S. jobs report—the first since President Trump’s early April tariff announcement—which could influence the Federal Reserve’s policy direction. Meanwhile, investor sentiment improved amid signs of easing U.S.–China trade tensions, after China said it is “evaluating” recent proposals from Washington for renewed talks.

The yield on Germany’s 10-year Bund edged up to 2.46% on Friday after Eurozone inflation data came in above expectations. Annual inflation held steady at 2.2% in April, slightly above the forecast of 2.1%, as sharp increases in services and unprocessed food prices offset a steeper drop in energy costs. Core inflation rose to 2.7% from 2.4%, also beating estimates of 2.5%, prompting investors to maintain expectations of 60 basis points in European Central Bank rate cuts by the end of the year. Globally, attention turned to the upcoming U.S. employment report—the first since the Trump administration's early April tariff announcement—for further insight into the Federal Reserve’s next move. Meanwhile, sentiment improved on signs of a potential easing in U.S.–China trade tensions, after Beijing said it is “evaluating” recent American proposals for renewed talks.