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EUR Boosted as Market Eyes Kazaks Comments

FOREX
  • EUR/USD saw support all the way higher to 1.2090 early Friday as markets watched comments from ECB's Kazaks, who stated that a decision could be made slow the ECB's bond-buying programme as soon as June, adding that the ECB may not spend the entirety of their pandemic program envelope.
  • These comments underpinned early EUR gains, although SEK and NOK remain firmer on the day.
  • Separately, GBP trades well, with GBP/USD nearing 1.3930 following regional and by-election results in the UK that showed the Conservative Party firming their lead on the opposition.
  • Today's jobs report takes focus going forward, with markets expecting gains of 1mln jobs across April, pressing the unemployment rate lower by 0.2 ppts to new post-pandemic lows of 5.8%.
  • The Canadian jobs report also crosses, with CAD continue to pressure new cycle highs. April is expected to have seen job losses in Canada, boosting the unemployment rate up to 8.0%.
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