Either way, the focus right now is more on the overall market mood. Risk sentiment was shaken earlier by the announcement of the Israeli strike on Iran. But we see those fears fading slightly after Iran downplayed all of this and doesn’t seem interested in retaliating.
However, this all happens just before the weekend. And you can understand if and why traders would decide it’s better to be safe than sorry. S&P 500 futures are down 0.9%, but they were down 1.7% earlier when the news was first announced. Meanwhile, gold returned to $2,383 after hitting a high of $2,417 earlier.
In the foreign exchange market, the dollar remains in a comfortable position this week, amid push and pull flows. USD/JPY earlier fell to 153.60 but has now recovered to 154.30 ahead of European trade. AUD/USD is down 0.3% at 0.6400, but off previous lows of at least 0.6362.
For the upcoming session, retail sales in the United Kingdom will be there. The estimate is for a slight increase in retail sales in March, but keep in mind that this particular trend still persists in the UK. The data will at least give pound traders something to look at ahead of the weekend.
06:00 GMT – PPI figures for March in Germany
06:00 GMT – March UK retail sales data
That’s all for the upcoming session. I wish you good days ahead and good luck in your trading! Stay safe out there.
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