Forex Today: AUD hit by RBA, US NFP & French election in focus

A data-quiet Asian session prevailed on the final trading day of this week, with Asia-pac central banks’ headlines driving market sentiment. The AUD/USD pair emerged the weakest in Asia, on the back of a cautious RBA SoMP and tumbling iron-ore prices. Meanwhile, the yen regained ground across the board on BOJ’s Kuroda’s comments and amid widespread risk-aversion, fuelled by fresh sell-off in oil prices.

Focus now shifts towards the Eurozone retail PMI data, the only economic release from the Euroland today. In the NA session, employment data from the US and Canada will keep the US traders busy. Also, on the cards, we have a slew of speeches from the Fed officials, including the one from the Fed Chair Yellen.

Meanwhile, outcome of the French presidential election due this Sunday will set the tone for markets in the week ahead.

Main topics in Asia

RBA SoMP: Ups GDP forecast from mid-2018, inflation unchanged

The RBA’s quarterly Statement on Monetary Policy (SoMP) has been published, with the Central Bank keeping its GDP outlook unchanged in near term, while showing more optimism further out. 

RBNZ Survey: NZ Q2 2-yr inflation expectations at 2.17%

The RBNZ came out with its latest survey of inflation expectations, reporting the highest expectations since Q3 2014.

BOJ’s Kuroda: ‘Wage and prices would start to accelerate in coming months and years’

CNBC reports headlines from the BOJ Governor Kuroda, as he speaks on the sidelines of the 2017 Asian Development Bank (ADB) meeting in Japan.

WTI slumps -3% in Asia, breaches $ 44 mark

Oil futures on NYMEX prolongs its downward trajectory for the fifth straight session on Friday, having witnessed aggressive selling pressure over the last hour, which knocked-off the commodity to the lowest levels since Nov 2016 below $ 44 mark.

Key Focus ahead

EUR/USD looks to conquer 1.10 handle ahead of NFP

All eyes now remain centered on the US labor market report amid a lack of first-tier releases from the Euroland. The Eurozone retail PMI data will in an otherwise light EUR calendar today.

5 Things to watch in the April NFP report - WSJ

The Wall Street Journal (WSJ) is out with an article on Friday, highlighting five key point to take note of in the April NFP report.

US NFP: Expect +200k in April – Goldman Sachs

Analysts at Goldman Sachs offer a sneak peek into the upcoming US non-farm payrolls numbers for April due at 1230GMT later on Friday.

France: Presidential elections finale on Sunday – Danske Bank

“As opinion polls accurately predicted the first round result and have pointed consistently to an Emmanuel Macron win, markets have largely priced out any French election risk premium over recent weeks.”