EUR/USD

The EUR/USD pair shows moderate growth, developing "bullish" dynamics and updating local highs from April 26. The instrument is testing 1.0735 for a breakout, while trading participants await the publication of the April report on the US labor market. Projections call for the creation of 243.0 thousand new jobs outside the agricultural sector, after an increase of 303.0 thousand in the previous month. The Average Hourly Earnings could slow down from 4.1% to 4.0%, and the Unemployment Rate is likely to remain at the same level of 3.8%. Also, during the day, statistics on business activity will be presented: the S&P Services PMI is expected to remain at 50.9 points, and the Institute for Supply Management (ISM) Services PMI is expected to accelerate from 51.4 points to 52.0 points. In addition, investors are assessing data on business activity from the eurozone, which arrived on the market the day before. The Manufacturing PMI from S&P Global in Germany in April rose from 42.2 points to 42.5 points with neutral forecasts, and in the eurozone as a whole - from 45.6 points to 45.7 points, while analysts expected 45.6 points. Today at 11:00 (GMT 2) March statistics on the Unemployment Rate in the eurozone will be published: it is expected that the figure will remain at the same level of 6.5%.

GBP/USD

The GBP/USD pair is trading with an upward trend, testing the level of 1.2550 for a breakout. The "bullish" activity at the end of the week remains quite restrained, as trading participants are in no hurry to open new positions ahead of today's publication of the April US labor market report. Analysts forecast a decline in Nonfarm Payrolls from 303.0 thousand to 243.0 thousand, while Average Hourly Earnings are likely to adjust from 4.1% to 4.0% in annual terms and may add 0.3% in monthly terms. In turn, the Unemployment Rate, according to preliminary estimates, will remain at 3.8%. In addition, April business activity statistics from S&P Global will be presented: the UK Services PMI is expected to remain at 54.9 points, and the US indicator at 50.9 points. Investors evaluate statistics on jobless claims in the United States, which were published the day before: Initial Jobless Claims for the week ended April 26 remained at the level of 208.0 thousand with expectations of 212.0 thousand, and Continuing Jobless Claims for the week ended April 19 remained at around 1.774 million, while experts were counting on 1.800 million.

NZD/USD

The NZD/USD pair shows mixed dynamics, remaining close to 0.5965 and local highs from April 30. The instrument is preparing to end the weekly session near zero, recovering losses from last Tuesday. The focus of investors' attention is still on the US Federal Reserve's interest rate decision. Monetary authorities kept the rate at 5.50%, which coincided with market forecasts, while the Chair of the Fed, Jerome Powell, noted that restrictive policies will continue in the near future, as inflation exceeds target values, despite the positive pace of its slowdown. Despite this, officials still expect at least two adjustments to borrowing costs this year of 25 basis points each. Trading participants evaluate the New Zealand labor market report for the first quarter, according to which the Unemployment Rate rose from 4.0% to 4.3% with a forecast of 4.2%, the Employment Change lost 0.2% after rising by 0.4% in the previous period, while markets were expecting 0.3%, and Participation Rate fell from 71.9% to 71.5%. Today at 14:30 (GMT 2), April data on the US labor market will be published. It is assumed that Nonfarm Payrolls will decrease from 303.0 thousand to 243.0 thousand, and the Average Hourly Earnings will slow down from 4.1% to 4.0% in annual terms and remain at around 0.3% in monthly terms.

USD/JPY

The USD/JPY pair is showing a fairly noticeable decline, extending the "bearish" momentum formed at the beginning of the week, when the instrument retreated from record highs located just above 160.00. The focus of investors' attention is on possible currency interventions by the Japanese monetary authorities, who have previously repeatedly warned the markets of their readiness to intervene in the situation. Macroeconomic statistics from Japan published this week did not provide any noticeable support to the yen. On Tuesday, April 30, March data on Retail Sales were presented: annual dynamics showed a sharp slowdown from 4.7% to 1.2% in annual terms, with a forecast of 2.5%, and in monthly terms the figure decreased by 1.2% after rising 1.5% in the previous month, while analysts had expected an increase of 0.6%. In turn, Industrial Production lost 6.7% after -3.9% a month earlier, with expectations at -6.6%. Today in the USA at 14:30 (GMT 2) April statistics on the labor market will be published: it is expected that Nonfarm Payrolls will slow down from 303.0 thousand to 243.0 thousand, as well as Average Hourly Earnings may decline from 4.1% to 4.0%.

XAU/USD

The XAU/USD pair shows mixed trading dynamics, holding near 2300.00. Activity on the market remains subdued as trading participants prefer to wait for today's publication of the labor market report, which may clarify the immediate plans of the US Federal Reserve. The regulator held a meeting on Wednesday, following which the interest rate was kept at 5.50%. At the same time, the Chair of the Fed, Jerome Powell, made a rather cautious speech, noting that the fight against inflation is not over yet, but the national economy has the necessary margin of safety for further restrictive monetary policy. Also, the US Federal Reserve rejected a hypothetical increase in borrowing costs in the current environment, emphasizing that the original plans for two adjustments to the value this year remain in force. Forecasts for the labor market report suggest a slight slowdown in Nonfarm Payrolls from 303.0 thousand to 243.0 thousand, as well as a decrease in Average Hourly Earnings from 4.1% to 4.0% in the annual expression, while in monthly terms the figure could add 0.3%.