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.

The Pound Sterling (GBP) rebounds against the US Dollar (USD), nearing 1.3320 amid a USD pullback ahead of key US jobs data, but faces challenges against other major currencies.  

Pound Sterling rises vs. USD, struggles against other peers

GBP/USD staged a rebound early Friday but failed to stabilize above 1.3300 after posting losses for the third consecutive day on Thursday. The technical outlook points to a bearish bias in the near term as markets gear for the US employment data releases.

The GBP/USD pair showed a brief recovery early Friday but struggled to hold above 1.3300 following three days of declines. With a bearish technical outlook, traders remain cautious ahead of key US employment data releases.  

GBP/USD Forecast: Pound Sterling buyers remain uninterested ahead of US employment data

The AUD/USD pair jumps to near 0.6430 on Friday. The Aussie pair strengthens as the US Dollar (USD) corrects sharply, even as hopes of a de-escalation in the trade war between the United States (US) and China have improved.

The AUD/USD pair has been fluctuating near the 200-day EMA around 0.6400 for nearly two weeks, briefly rising to 0.6430 on Friday due to a sharp correction in the US Dollar. The Australian Dollar's strength is supported by optimism over potential easing in the US-China trade tensions.  

AUD/USD Price Forecast: Wobbles around 200-day EMA near 0.6400 for almost two weeks

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 USD/JPY pair retreated to around 144.50 during European trading as the US Dollar weakened ahead of the US Non-Farm Payrolls (NFP) data, following a brief recovery to 146.00 earlier in the day.  

USD/JPY corrects to near 144.50 as US Dollar retraces ahead of US NFP data

EUR/USD holds initial gains to near 1.1300 in Friday’s European session. The major currency remains gains at the expense of the US Dollar (USD), which corrects despite an increase in hopes of easing trade tensions between the United States (US) and China.

The EUR/USD pair rises to around 1.1300 as the US Dollar weakens ahead of the US Non-Farm Payrolls (NFP) report, despite optimism over potential US-China trade tensions easing.  

EUR/USD gains as US Dollar corrects ahead of US NFP

EUR/USD closed the third consecutive day in negative territory on Thursday and touched its weakest level in nearly three weeks below 1.1270. Although the pair stabilizes above 1.1300 in the European session on Friday, it remains fragile heading into the key April employment data release from the US.

The EUR/USD pair stabilized above the key support level of 1.1300 after three consecutive days of declines, reaching a three-week low below 1.1270. Traders remain cautious ahead of the US April employment data release, which could influence the pair's near-term direction.  

EUR/USD Forecast: Euro stabilizes above key support area ahead of NFP

The USD/CAD pair meets with a fresh supply on Friday and reverses a part of the previous day's move higher. Spot prices drop back closer to the 1.3800 mark during the early European session and remain well within striking distance of the lowest level since October 2024 set earlier this week.

The USD/CAD pair faces renewed selling pressure on Friday, retreating toward the 1.3800 level after a brief recovery. Traders remain cautious as the pair hovers near its lowest point since October 2024, with the upcoming US Non-Farm Payrolls (NFP) report likely to influence further movement.  

USD/CAD Price Analysis: Bears now ready to give up yet; US NFP report awaited

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 US Dollar Index (DXY) retreated slightly to 99.75 after failing to sustain a break above the 100-mark, as traders await the upcoming Nonfarm Payrolls release.  

US Dollar retreats slightly ahead of Nonfarm Payrolls release

Here is what you need to know on Friday, May 2:

The US Dollar shows signs of weakening as traders await the release of crucial April employment data, which could influence future Federal Reserve policy decisions. Market participants remain cautious amid shifting expectations for interest rate adjustments.  

Forex Today: US Dollar retreats ahead of critical April employment data

The EUR/USD pair attracts some buyers during the Asian session on Friday and looks to build on the intraday move up beyond the 1.1300 round-figure mark.

The EUR/USD pair rebounds during Asian trading, climbing back above the 1.1300 level as traders anticipate key economic data releases, including Eurozone CPI and US NFP figures.  

EUR/USD moves away from multi-week low, retakes 1.1300 ahead of Eurozone CPI/US NFP

Indian Rupee (INR) crosses trade with a negative bias at the start of Friday, according to FXStreet data. The Euro (EUR) to the Indian Rupee changes hands at 95.05, with the EUR/INR pair declining from its previous close at 95.83.

The Indian Rupee (INR) showed a weaker performance against the Euro (EUR) at the start of Friday's European session, with the EUR/INR pair trading lower at 95.05 compared to the previous close of 95.83, indicating a negative bias for the INR.  

EUR/INR: Indian Rupee cross rates down at the start of the European session

The USD/CAD pair retraces its gains registered in the previous session, trading around 1.3810 during the early European hours on Friday.

The USD/CAD pair retreated from its recent gains, testing the 1.3800 support level after pulling back from the nine-day EMA, trading near 1.3810 during early European trading on Friday.  

USD/CAD Price Forecast: Tests 1.3800 support after pulling back from nine-day EMA

FX option expiries for May 2 NY cut at 10:00 Eastern Time via DTCC can be found below.

The article lists foreign exchange (FX) option expiries set for May 2, with details on cut-off times and data sourced from DTCC.  

FX option expiries for May 2 NY cut

The EUR/JPY cross builds on the previous day's blowout rally following the Bank of Japan's (BoJ) policy decision and touches a fresh year-to-date top, around the 164.60-164.65 region during the Asian session on Friday.

The EUR/JPY cross retreated slightly from its year-to-date high of 164.60-164.65, settling around 164.30, as traders await Eurozone CPI data following a surge driven by the Bank of Japan's policy decision.  

EUR/JPY eases from YTD peak, up a little around 164.30 ahead of Eurozone CPI

EUR/GBP edges slightly lower during Asian trading on Friday, hovering around 0.8490 after posting gains in the previous two sessions. The Pound Sterling (GBP) found support amid growing optimism that the UK could secure a trade agreement with Washington.

The EUR/GBP pair dipped below 0.8500 during Asian trading as the Pound Sterling gained strength due to rising optimism about a potential UK-US trade agreement, following two sessions of gains.  

EUR/GBP moves below 0.8500 as Pound Sterling rises on potential UK-US trade agreement

The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, is losing ground after registering gains in the previous three successive sessions, trading near 100.10 at the time of writing.

The US Dollar Index (DXY) is trading near 100.10, showing slight declines after three consecutive sessions of gains, following a breakout above a descending channel.  

US Dollar Index Price Forecast: Hovers near 100.00 after breaking above descending channel

The GBP/JPY cross drifts higher to near 193.25 during the early European session on Friday. The Japanese Yen (JPY) weakens against the Pound Sterling (GBP) as traders scale back their bets on further interest-rate hikes by the Bank of Japan (BoJ).

The GBP/JPY cross rises to 193.25 as the Yen weakens amid reduced expectations for further BoJ rate hikes, though an overbought RSI suggests potential caution for bullish traders.  

GBP/JPY Price Forecast: Strengthens above 193.00, overbought RSI warrants caution for bulls

NZD/USD retraces its recent losses from the previous session, trading around 0.5940 during the European hours on Friday. The upside of the pair could be restrained as signs of easing US trade tensions support the US Dollar (USD).

The NZD/USD pair recovers slightly to around 0.5940 during European trading, rebounding from prior losses, though potential USD strength from easing US trade tensions may limit further gains ahead of the Nonfarm Payrolls report.  

NZD/USD appreciates to near 0.5950 ahead of Nonfarm Payrolls report

The USD/CHF pair trades on a flat note around 0.8290 during the Asian trading hours on Friday. Traders prefer to wait on the sidelines ahead of the release of the highly anticipated US Nonfarm Payrolls (NFP) report, which is due later on Friday.

The USD/CHF pair remains steady near 0.8300 as traders await the US Nonfarm Payrolls (NFP) report, with little movement during Asian trading hours due to cautious market sentiment.  

USD/CHF flat lines near 0.8300 ahead of US NFP release

The Australian Dollar (AUD) is rebounding modestly against the US Dollar (USD) on Friday, retracing some of the previous session’s losses.

The Australian Dollar (AUD) is showing resilience, recovering slightly against the US Dollar (USD) as markets await the upcoming US Nonfarm Payrolls report, which could influence currency movements.  

Australian Dollar remains stronger despite disappointing Retail Sales, US NFP eyed

The GBP/USD pair drifts lower to near 1.3275 during the Asian trading hours on Friday. The positive developments surrounding US-China trade talks provide some support to the US Dollar (USD).

The GBP/USD pair experiences a slight decline, trading near 1.3275 during Asian hours, as the US Dollar gains modest strength amid optimism around US-China trade talks ahead of the US Non-Farm Payrolls (NFP) report.  

GBP/USD posts modest losses below 1.3300 ahead of US NFP release

USD/CAD is slipping during Friday’s Asian session, trading near 1.3830, after posting gains in the prior session.

The USD/CAD pair has dipped below 1.3850, trading around 1.3830 during Friday's Asian session, as the US Dollar weakens in anticipation of the upcoming Non-Farm Payroll (NFP) report, following gains in the previous session.  

USD/CAD moves below 1.3850 as US Dollar retreats ahead of NFP report

The Indian Rupee (INR) extends the rally on Friday. Foreign portfolio inflows into Indian equities and increased hedging-related US Dollar (USD) sales from local exporters boost the Indian currency.

The Indian Rupee (INR) strengthened against the US Dollar (USD) due to foreign equity inflows and heightened USD sales by local exporters for hedging purposes.  

USD/INR attracts some sellers on inflows, all eyes on US NFP data

NZD/USD is recovering its losses from the previous session, trading around 0.5930 during the Asian hours on Friday.

The NZD/USD pair climbs above 0.5900, reaching 0.5930 during Asian trading hours, as the New Zealand Dollar gains strength amid improving market sentiment, recovering from prior session losses.  

NZD/USD rises above 0.5900 as New Zealand Dollar advances due to improving sentiment

The Japanese Yen (JPY) builds on its intraday recovery move from a three-week low touched against its American counterpart earlier this Friday.

The Japanese Yen (JPY) shows a modest rebound from a three-week low against the US Dollar (USD) as traders adjust positions ahead of the US Nonfarm Payrolls report, though cautious sentiment persists due to the Bank of Japan's dovish stance.  

Japanese Yen moves away from multi-week low against retreating USD; US NFP eyed for fresh impetus

The Gold price (XAU/USD) edges lower to a two-week low near $3,235 during the early Asian session on Friday. The easing of trade tensions between the US and its trading partners has dented the safe-haven demand, weighing on the precious metal.

Gold prices (XAU/USD) dipped to a two-week low near $3,235 as reduced trade tensions between the US and its partners weakened safe-haven demand, with traders now focusing on upcoming US Non-Farm Payroll (NFP) data for further market direction.  

Gold Price Forecast: XAU/USD loses momentum below $3,250, US NFP data in focus

The EUR/USD pair softens to around 1.1290 during the early Asian session on Friday. The US Dollar (USD) edges higher against the Euro (EUR) amid optimism about a de-escalation in the global trade conflict. All eyes will be on the US April Nonfarm Payrolls (NFP) report, which is due later on Friday.

The EUR/USD pair dipped to 1.1290 in early Asian trading as the US Dollar strengthened amid optimism over easing global trade tensions. Market focus now shifts to the upcoming US Nonfarm Payrolls (NFP) report for April, which could influence future currency movements.  

EUR/USD holds below 1.1300 on firmer US Dollar, all eyes on US NFP data

The EUR/JPY pair extended its rally on Thursday, pushing toward the 164.00 zone after a strong advance during the European session. The pair sits near the top of the day’s range as it enters the Asian session, reflecting sustained demand despite a flattening in momentum indicators.

The EUR/JPY pair continued its upward momentum on Thursday, nearing the 164.00 level after a robust rally in the European session. Despite a slight slowdown in momentum indicators, the pair remained near daily highs as it transitioned into the Asian session, indicating persistent bullish sentiment.  

EUR/JPY Price Analysis: Euro climbs toward session highs with bullish trend intact

The EUR/USD pair bottomed at 1.1285 early in the Asian session on Thursday, as the US Dollar (USD) advanced following the release of mixed first-tier data on Wednesday.

The EUR/USD pair dipped to 1.1285 during the Asian session as the US Dollar gained strength following mixed economic data releases, signaling potential near-term declines for the currency pair.  

EUR/USD Price Forecast: Near-term slides on the table

The EUR/GBP pair saw slight weakness on Thursday, trading near the 0.8500 zone after the European session. Despite today’s marginal drop, the overall structure remains supportive of a bullish bias, backed by a firm base of longer-term moving averages.

The EUR/GBP pair experienced minor declines but maintained a bullish outlook, hovering around 0.8500 after the European session, supported by long-term moving averages.  

EUR/GBP Price Analysis: Euro holds bullish tone while drifting near 0.8500

The Pound Sterling (GBP) edges lower against the US Dollar (USD) on Thursday, with most European markets closed during Labor Day. The release of manufacturing activity data on both sides of the Atlantic and United States (US) trade policies continued to drive the financial markets.

The GBP/USD exchange rate fell below 1.33 as weakened manufacturing activity in both the UK and US, combined with ongoing US trade policy concerns, influenced market movements amid thin trading due to European Labor Day closures.  

GBP/USD slips below 1.33 as US and UK manufacturing activity slumps

The Japanese Yen (JPY) is weak, down 0.9% against the US Dollar (USD) and underperforming all the G10 currencies in response to the BoJ’s latest policy meeting, Scotiabank's Chief FX Strategist Shaun Osborne notes.

The Japanese Yen (JPY) has weakened significantly, dropping 0.9% against the US Dollar (USD) and lagging behind other G10 currencies following the Bank of Japan's (BoJ) latest policy meeting, which lacked clear signals on monetary tightening, according to Scotiabank's Chief FX Strategist Shaun Osborne.  

JPY pushes lower by dovish BoJ pulling back on tightening clarity – Scotiabank

The USD/JPY is trading with notable strength, surging to the upper end of its recent range as the Japanese Yen continues to underperform following the Bank of Japan’s latest policy meeting.

The USD/JPY currency pair has surged to a two-week high, driven by the Bank of Japan's cautious policy stance and stronger-than-expected US economic data, leading to a notable underperformance of the Japanese Yen.  

USD/JPY rallies as BoJ caution and US data push pair to two-week high

The Mexican Peso posted slight losses against the US Dollar on Thursday after economic data in the United States (US) suggested slowing manufacturing and a cooling labor market. The USD/MXN trades at 19.58 after hitting a daily low of 19.57.

The Mexican Peso experienced minor declines against the US Dollar following US economic data indicating weaker manufacturing and a softening labor market, with the USD/MXN exchange rate settling at 19.58.  

Mexican Peso holds ground as US data signals slowdown

The EUR/USD pair is holding a bearish tone on Thursday, after retreating modestly following the European session. Price action is contained within a mid-range zone around the 1.1300 mark, reflecting a brief pause in upward momentum.

The EUR/USD pair maintains a bearish stance, hovering near 1.1300 after a slight pullback during the European session, signaling a temporary halt in upward movement.  

EUR/USD Price Analysis: Euro holds losses near 1.1300

The AUD/NZD pair edged slightly higher on Thursday, trading near the 1.0800 area as the market transitions into the Asian session. While the move shows mild intraday strength, the broader technical setup remains tilted to the downside.

The AUD/NZD pair saw a minor uptick to 1.0800 during Thursday's Asian session, but technical indicators suggest growing bearish momentum, overshadowing the short-term gains.  

AUD/NZD Price Analysis: Aussie stalls near 1.0800 as bearish pressure builds

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, is rising above the 100.00 level as markets absorb softer-than-expected labor and manufacturing data.

The US Dollar Index (DXY) climbs above the 100.00 mark as investors react to weaker-than-anticipated labor and manufacturing reports, positioning cautiously ahead of the upcoming Nonfarm Payrolls data.  

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