Earlier in the Day:

It was a quiet start to the day on the economic calendar on Friday. With a number of key markets shut for Good Friday, March inflation figures out of China were in focus in the early hours.

Outside of the numbers, the markets continued to respond to the latest COVID-19 figures.

On Thursday, the total number of coronavirus cases across France, Germany, Italy, and Spain rose by 18,944 to 532,832. In the U.S, the total number of cases increased by 42,266 to 468,566. That took the total number of cases globally to 1,603,168.

The key take away from the numbers was a pickup in the new of new cases across the U.S. On Thursday, there were 42,266 new cases, which was up from 25,965 new cases Wednesday. More significantly, it was the largest daily increase of the week. Numbers from France, Germany, Italy, and Spain were below Tuesday’s 29,916 new cases, but up from 13,365 new cases on Wednesday. The number of new cases rose by 18,944 on Thursday.

Out of China

Consumer prices took a hit, as did wholesale prices, in March as had been largely expected by the markets.

In March, consumer prices slid by 1.2%, month-on-month, reversing a 0.8% rise in February, with the annual rate of inflation easing from 5.2% to 4.3%. The impact of the coronavirus and marked decline in demand was evident, with the Producer Price Index sliding by 1.5%, year-on-year.

The Aussie Dollar moved from $0.63190 to $0.63193 upon release of the figures. At the time of writing, the Aussie Dollar was down by 0.24% to $0.6325.

Elsewhere

At the time of writing, the Japanese Yen was down by 0.04% to ¥108.54 against the U.S Dollar, while the Kiwi Dollar was up by 0.03% to $0.6069.

The Day Ahead:

For the EUR

It’s a quiet day ahead on the economic calendar, with the major markets closed for Good Friday.

The lack of stats will leave the EUR in the hands of the coronavirus numbers. Any further tension across the region over the coronabonds will also influence. While volumes tend to be on the lighter side at this time of the year, it may not as light this year.

At the time of writing, the EUR was down by 0.03% at $1.0927.

For the Pound

It’s also a particularly quiet day ahead on the economic calendar, with the UK markets closed for Good Friday.

With the markets shut, we can expect volumes to be on the lighter side. Nonetheless, the latest coronavirus numbers and updates from Thomas’s on the British PM’s health will provide direction.

At the time of writing, the Pound was down by 0.03% to $1.2454.

Across the Pond

It’s a relatively busy day ahead on the U.S economic calendar. U.S inflation figures for March are due out.