Forexlive European FX news wrap: Awaiting the NFP report ...Middle East

What is the distribution of forecasts for the US NFP?ECB's Centeno: We successfully overcome inflationary processBoJ is said to consider smaller reductions to its bond buyingEurozone Q1 final GDP +0.6% vs +0.4% q/q second estimateEurozone April retail sales +0.1% vs +0.1% m/m expectedECB's Rehn: Decision-making at each meeting remains keyECB's Holzmann: I dissented in this week's rate decisionECB's Stournaras: ECB has achieved a soft landingFrance April industrial production -1.4% vs +0.2% expectedECB's Simkus: Interest rates are now at neutralECB's Kazaks: Markets should not expect cuts at every meetingGermany April industrial production -1.4% vs -1.0% m/m expectedUK May Halifax house prices -0.4% vs -0.1% m/m expectedECB's Villeroy: We have won battle against inflation in EuropeECB's Muller: Agree with Lagarde that cycle almost finishedJapan April leading economic index 103.4 vs 104.1 expected

The most noteworthy news was the report from Bloomberg saying that the BoJ was to consider smaller reductions to its bond buying. This should be yen negative given that the BoJ would buy more bonds than previously expected under their bond tapering plan but the market hasn't reacted much to the news.

Things got back to normal when we got the news overnight that Trump said to Politico in a brief call that things with Musk were going well and that the White House aides scheduled a call Friday with Musk to broker a peace. A White House source a couple of minutes before this wrap up told Reuters that there was no plan for a call between Trump and Musk.

In the American session, we have the Canadian Employment data and the US NFP report coming up. But watch out also for potential Musk-Trump headlines.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

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