American FX Outlook: Fed Speakers Headline Friday The 13th

What you need to know before markets open

• The geopolitical risks increased on Thursday with the US military involvement in Syria nearing but were put aside a bit after US President tweeted that “Never said when an attack on Syria would take place. Could be very soon or not so soon at all!”
• US President Trump said he would only join Trans-Pacific Partnership if the deal was substantially better than offered to previous President Obama.
• With the economic calendar light on Friday the 13th, the sentiment is set to drive the markets.
• The US Federal Reserve regional Presidents are scheduled to speak on Friday with Mr. Rosengren and Mr. Bullard being alternate FOMC members in 2018 and do not vote on interest rates.

Friday’s market moving events

• Boston Federal Reserve Bank President Eric Rosengren is set to deliver a keynote address at the Greater Boston Chamber's Economic Outlook at 12:00 GMT.
• St. Louis Federal Reserve Bank President James Bullard is scheduled to speak at the Washington University's Calhoun Lecture Series in St. Louis at 13:00 GMT.
• University of Michigan consumer confidence is expected to decelerate to 100.5 in April. For details how to trade it click here.
• Dallas Federal Reserve Bank President Robert Kaplan to participate in a moderated Q&A at the Odessa Chamber of Commerce Member Luncheon in Odessa, Texas at 17:00 GMT.

Major market movers

• Sterling rose to 1,4295, its highest level since mid-January approaching the cyclical high of 1.4345 as trade hopes increased.
• US Dollar was trading little changed on the downside on index basis against major counterparts on Friday.

Earlier in Asia/Europe

• China’s trade balance recorded an unexpected deficit of $4.98 billion in March with exports falling 2.7 percent y/y while imports rose 14.4 percent over the year in US Dollar terms.
• German inflation rose 1.6 percent over the year in March on a national basis while rising 1.5 percent y/y on European harmonized basis, meeting the forecast.
• The Eurozone trade surplus in goods reached a surplus €18.9 billion in February.