- US Durable Goods Orders in March declined more than expected.
- US Dollar Index stays in the negative territory below 100.50.
- Major equity indexes in the US post modest gains on Friday.
The USD/JPY pair struggling to find direction on Friday as the improving market sentiment is making it difficult for both the JPY and the USD find demand. As of writing, the pair was virtually unchanged on a daily basis at 107.55.
Markets ignore US data
The data published by the US Census Bureau on Friday revealed that Durable Goods Orders in March declined by 14.4% to come in worse than the market expectation for a fall of 11.9%. Nevertheless, this reading had little to no impact on market sentiment. The US Dollar Index, which climbed higher toward the 101 mark on Thursday, was last seen at 100.35, where it was losing 0.15% on the day.
Meanwhile, World Health Organization (WHO) chief Tedros Adhanom announced on Friday that they are launching a global campaign to accelerate the production of coronavirus vaccines and treatments to allow risk-on flows to continue to dominate the markets. Reflecting the upbeat market mood, Wall Street’s main indexes opened the day higher and were last seen up between 0.25% and 0.55%.
Later in the day, the University of Michigan’s Consumer Sentiment Index for April (final) will be looked upon for fresh impetus.
Technical levels to watch for
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