Headlines:
Switzerland March foreign currency reserves CHF 715B vs CHF 678B prior
Japan's PM Kishida to Take Appropriate Action if There are Excessive FX Moves
German Factory Orders 0.2% m/m vs 0.6% expected
ECB Likely to Start Cutting Rates Once a Quarter Starting June
UK Construction PMI 50.2 vs 49.8 Expected
Eurozone Retail Sales m/m -0.5% vs -0.3% expected
Markets:
EUR/USD is uneventful after the German data, but US jobs print is expected.
GBP/USD didn’t react too much after better than expected Constructions PMI.
USD/JPY is range bound as Japan PM Kishida said what we already know.
Geopolitical risks loom over the weekend.
