EYES ON NONFARM PAYROLLS ON GOOD FRIDAY

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Major currency pair move in extremely tight ranges on Friday as global stock and bond markets remain closed on Easter Friday. In the early American session, the US Bureau of Labor Statistics will release the Nonfarm Payrolls (NFP) report for March. 

On Thursday, the US Dollar Index, which tracks the US Dollar's (USD) performance against a basket of six major currencies, closed flat. Although Wall Street's main indexes managed to register modest gains on the day, the benchmark 10-year US Treasury bond yield recovered to 3.3%, helping the USD hold its ground.

Nonfarm Payrolls in the US are forecast to rise by 240,000 in March following February's better-than-expected increase of 311,000. The Unemployment Rate is expected to hold steady at 3.6% and the annual wage inflation, as measured by the Average Hourly Earnings, is seen edging lower to 4.3% from 4.6%.


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