Greenback trims gains but remains positive....>

FOREX: Greenback trims gains but remains positive on the week

- The greenback was offered for much of the Friday session, giving back some of

the gains posted since the beginning of the week as sentiment picked up toward

the tail-end of the week. There's still mixed evidence on whether global virus

curves are effectively flattening, which has raised some caution around some

states' plans to reopen economies after nationwide lockdowns.

- Much of the rest of G10 FX respected the recent range, with little newsflow or

data to sway markets. A widening gap between WTI- and Brent worked in favour of

NOK, helping the currency rise to the top of the G10 leaderboard Friday.

- US stock futures touched a fresh COVID-19 recovery high in early Friday trade,

but sentiment softened into the close, with some mild profit-taking tapering the

upside in the e-mini S&P. 

- Focus for the coming week turns to RBA minutes, UK jobs & inflation data,

German ZEW & IFO surveys as well as preliminary global April PMI data. Outside

of data, markets will also be keenly watching the publication of states' plans

for emerging from nationwide lockdown.