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United States President Donald Trump is on the wires on Good Friday, claiming on Truth Social that the US can easily reopen the Strait of Hormuz, take the oil, and make a fortune.With a little more time, we can easily OPEN THE HORMUZ STRAIT, TAKE THE OIL, & MAKE A FORTUNE. IT WOULD BE A “GUSHER” FOR THE WORLD??? President DONALD J. TRUMP”Market reaction to the newsThe US Dollar trades marginally higher on the day, helped by an upbeat March Nonfarm Payrolls report, although thinned market conditions due to Easter Holidays keep it within familiar levels. Employment FAQs Labor market…

Nonfarm Payrolls (NFP) in the United States (US) increased by 178K in March, according to data released by the US Bureau of Labor Statistics (BLS) on Friday. The figure marks a marked reversal from February’s 133K drop (revised from -92K) and came in well above market expectations for a 60K gain.Elsewhere in the report, the Unemployment Rate ticked lower to 4.3% (from 4.4%), while the Labor Force Participation Rate edged marginally lower to 61.9% from 62%. At the same time, wage pressures showed a slight downtick, with annual growth in Average Hourly Earnings easing to 3.5% (from 3.8%).” The change…

USD/JPY trades flat on Friday, fluctuating between minor gains and losses as thin holiday liquidity keeps price action subdued. At the time of writing, the pair is trading around 159.58, with traders staying on the sidelines ahead of the US Nonfarm Payrolls (NFP) report.The upcoming US jobs report is expected to show a mild recovery in hiring, with Payrolls forecast at 60K following February’s sharp 92K decline, while the Unemployment Rate is seen unchanged at 4.4%.A stronger-than-expected reading could support the US Dollar (USD) and weigh on the Japanese Yen (JPY). However, the upside in USD/JPY appears limited as the…

The Euro (EUR) is trading sideways between 1.1530 and 1.1550 against the US Dollar (USD) in a holiday-thinned session, with most markets closed on Good Friday. The pair is on track for a 0.3% weekly appreciation, yet with price action trapped halfway through March’s trading range.Mild risk aversion is keeping Euro rallies in check as the Iran war enters its 35th day, while markets shift their focus, at least temporarily, to the US Nonfarm Payrolls report, due later on Friday. The US economy is expected to have created 60K new jobs in March, to partially offset February’s 92K decline, with…

The Australian Dollar’s (AUD) recovery attempt against the US Dollar (USD) has been capped a few pips ahead of the 0.6920 level. The pair has been trimming gains on Friday, returning to the 0.6900 area at the time of writing, with all eyes on the release of the US Nonfarm Payrolls report.A moderate risk aversion is keeping safe haven assets like the US Dollar buoyed on Friday as the Iran war continues without a clear end in sight and the Strait of Hormuz remains closed, adding pressure on exporting economies such as Australia. Bahrain’s proposal to reopen Hormuz finds oppositionThe UN…

The British Pound (GBP) trades slightly higher against the US Dollar (USD) on Friday, as modest softness in the Greenback lends some support. However, price action remains subdued amid thin liquidity conditions due to the Good Friday holiday, with trading activity likely to pick up during the American session as traders await the US Nonfarm Payrolls (NFP) report.At the time of writing, GBP/USD is trading around 1.3234, after falling to a four-month low at 1.3159 earlier this week. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, is hovering near the…

West Texas Intermediate (WTI) oil price steadies around $103.80 per barrel during the early European hours on Friday. WTI price gained over 10% as supply concerns intensified following renewed Iran threats from US President Donald Trump.President Trump warned of intensified military action on Iran over the next two to three weeks and issuing strong threats against Iran. But he offered no clarity on steps toward reopening the Strait of Hormuz.Iran’s Foreign Minister Abbas Araghchi responded that recent US strikes on civilian infrastructure would not force a retreat, describing them instead as evidence of an opponent in disarray and moral decline.Reports…

Silver price (XAG/USD) remains in the negative territory after experiencing volatility, trading around $73.10 during the Asian hours on Friday. The dollar-denominated Silver comes under pressure as a stronger US Dollar (USD), driven by safe-haven demand, makes the white metal costlier for foreign buyers. Trading activity may remain subdued due to the Good Friday holiday.Non-interest-bearing Silver remains under pressure as hawkish central bank expectations for 2026 intensify. Rising energy prices tied to Middle East tensions reinforce inflation concerns, supporting tighter policy outlooks and reducing the appeal of precious metals that offer no yield.US President Donald Trump offered no clarity on…

The difference between domestic dollar-rupee forwards and overseas non-deliverable forwards (NDF) widened as banks squared their positions by selling dollars in the local market and buying abroad after the Reserve Bank of India (RBI) prohibited banks from offering or rebooking any NDF contracts to their clients, reinforcing measures taken late last week to support the rupee.Bankers said the gap widened steeply in the longer end as overseas investors and hedge funds were not big sellers of the US currency in the long end. The difference between one-month domestic forward and overseas NDF increased to about 50 paise from about 40…

The Indian rupee strengthened nearly 1.8% on Thursday to close at 93.10 against the dollar after the Reserve Bank of India tightened rules on speculative bets on the currency. The rupee touched an intraday high of 92.83 per dollar, logging its best singleday gain since September 2013.The currency gained 173 paise from its previous close of 94.83 per dollar. The rupee is expected to trade in the 92.5093.50 range next week as banks unwind their net open positions, traders said. Currency markets will stay shut on Friday due to Good Friday. The RBI has directed lenders to pare open positions…