| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:30 | Switzerland | Producer & Import Prices, y/y | March | 2.7% | | 2.1% |
| 06:45 | France | CPI, y/y | March | 6.3% | 5.6% | 5.7% |
| 06:45 | France | CPI, m/m | March | 1% | 0.8% | 0.9% |
| 08:00 | France | IEA Oil Market Report | | | | |
USD declined against most of its major counterparts in the European session on Friday as investors continued to digest the latest economic releases, suggesting the Federal Reserve's rate hiking cycle is close to its end.
In particular, the focus is Thursday’s report on the U.S. Producer Price Index (PPI) for March, which confirmed the disinflationary process in the U.S. is intact, and the weekly jobless claims data, which indicated some softening in the labor market.
The latest data maintained the bets that the U.S. central bank would likely increase its interest rates one final time at its May 3 policy meeting.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, dropped by 0.11% to 100.90.
Later in the day, investors will receive the U.S. retail sales data for March, which will provide clues on the health of the U.S. economy. Economists expect the report to show a notable monthly drop (-0.4% m/m) in retail sales for March. A weaker-than-expected print would raise recession fears and have a negative impact on the U.S. currency.