EUR/GBP RECORDS MODEST GAINS AMIDST LOW LIQUIDITY CONDITIONS ON GOOD FRIDAY I

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The EUR/GBP advances for two straight days and hits a four-day high of around 0.8790 on a subdued trading session in observance of the Good Friday holiday. The EUR/GBP is trading at 0.8782, registering minuscule gains of 0.04%.

The cash market is closed due to a holiday. However, the US futures market is open, and equities have responded optimistically to the latest round of US economic data and edged higher. The US Nonfarm Payrolls March report was solid, though a whisker below estimates of 240K, at 236K. Some of the highlights of the report came above estimates. The Participation Rate climbed to 62.6%, above forecasts of 62.4%, while the Unemployment Rate remained unchanged at 3.6% YoY. Average Hourly Earnings dipped to 4.2% YoY, below the 4.3% foresaw.

Aside from this, a light Eurozone (EU) and United Kingdom (UK) economic dockets left traders adrift to data from the United States (US).


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