Easter market is light, the dollar hovers around 99.50

As trading volumes decrease, major currency pairs remain calm on Friday, with major markets remaining closed to celebrate the Easter holiday. The Economic Calendar will not provide any advanced data releases, paving the way for a downturn in the market before the weekend.

The European Central Bank (ECB) announced Thursday that, as widely expected, it lowered key interest rates by 25 basis points (bps) after its April policy meeting. In a post-conference press conference, ECB President Christine Lagarde did not suggest a next policy move, but acknowledged that the economic outlook for the eurozone was clouded by uncertainty. The euro/dollar fell slightly after the ECB incident and closed in the negative territory on the same day. Earlier on Friday, the pair fluctuated in a narrow channel above 1.1350.

The number of people who requested initial jobless claims per week fell to 215,000 from 224,000 the previous week, according to data from the U.S. on Thursday. Meanwhile, U.S. President Donald Trump said on Thursday that China has contacted his administration to negotiate on tariffs, adding that he believes they will reach an agreement with China. The USD index closed slightly higher and stabilized at around 99.50 in early Friday.

Basic foreign exchange market trend:

GBP/USD closed in the positive area on Thursday and extended upward to 1.3280 before entering the consolidation phase.

The US dollar/JPY traded in a narrow range below 142.50 on Friday and is expected to decline for the third consecutive week. Bank of Japan Governor Kazuo Ueda reiterated on Friday that they will continue to raise interest rates if potential inflation accelerates to the 2% target.

Bulle market fundamentalsLove:

Gold remained stable on Friday as investors took profits over the long Easter weekend. Hovering below 3330

MainMoney Trend Analysis:

Euro: Euro/USD has fluctuated in recent trading, fluctuating within a narrow sideways trading range as it tries to gain positive momentum, which may increase the chance of recovery and rise again. The bullish trend dominated the short term, with prices moving along the trend line, and (RSI) began to show positive signals of bullish overlap after reaching oversold levels, supporting the possibility of a price returning to the top, especially if the price trades above its EMA50.

GBP: GBP/USD rose in recent intraday trading, staying above key support level 1.3200, which provided positive momentum for yesterday's price relied on it, ready to attack the current resistance level 1.3290 in the last rise. Despite reaching overbought levels, it is supported by positive signals appearing on (RSI) when the main bullish trends dominate and trade along the secondary trend line in the short term.

JPY: The USD/JPY fell in recent intraday trading, as a price preparation for breaking through the key support level 142.25, is subject to persistent negative pressure as its trading below EMA50, and is dominated by the major bearish trend, trading along the secondary trend line at the intraday level. Prices form a negative divergence on the (RSI) indicator, after reaching an overbought level, are exaggerated compared to the price trend, and send a negative signal from there.

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