Markets appeared edgy as they digested more hawkish Fed commentary and monitor the situation around Ukraine.
St Louis Fed President James Bullard who is a prominent hawk and a voter, said that the Fed is "behind the curve", but offered two interpretations, one of which suggests that it is not that far back. He also saw 3.5% as the recommended policy rate, from current 0.25-0.50%. 
The European Central Bank (ECB) published the accounts from the last policy meeting which showed that "a large number of members" were of the view that "further steps towards monetary policy normalization" were needed due to high inflation. Officials did not see stagflation, but talked of "slowflation". 
Ukrainian Foreign Ministers Kuleba asked form more support from NATO, emphatically stating that his agenda has only has three items: "It's weapons, weapons, and weapons" . Secretary General Stoltenberg said the allies "should do more, and are ready to do more" .
The United Nations (UN) General Assembly voted to suspend Russia from the Human Rights Council, following reports of violations committed by Russian forces. 
The Chinese mainland reported today 1,576 new Covid-19 infections (local & imported) for April 7, up from 1,323 on the previous day. There were also 22,648 new asymptomatic carriers. 
Elon Musk hosted an opening party for Tesla's new Giga Factory in Texas, teasing a Robotaxi and 2023 production for the Cybertruck, the Roadster and the Semi. 
Main Asia-Pacific stock were mostly upbeat after Wall Street's positive lead European futures try to follow. On the FX space, the US Dollar steadies, the JPY Basket is mixed and Antipodeans (AUD, NZD) are cautious against the greenback.
EUR/USD remains soft, but holds above 1.0850.
GBP/USD consolidates, defending 1.3050.
USD/JPY is mixed as it tests 124.00 on the upside, but heads towards the 5th straight profitable week.
USD/CAD faces pressure, having rejected 1.2600 during yesterday's rise.
AUD/USD shows indecision below 0.7500.
NZD/USD is tepid below 0.6900.
GER30 is a bit mixed as it covers earlier losses and reclaims 14,200.
US30 trades with positive undertone around 34,600.
USOIL is soft above 96.00.
XAU/USD consolidates around 1,930.
Economic Calendar Picks (GMT)
Canada's Employment figures (12:30) stand out form a rather bare docket today.
The first round of the French Presidential Elections is held on Sunday, with incumbent Mr Macron ahead in the polls, but his rival Ms Le Pen has been closing the gap.
See the economic calendar here.
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.
Retrieved 08 Apr 2022 https://www.ecb.europa.eu/press/accounts/2022/html/ecb.mg220406~8e7069ffa0.en.html
Retrieved 08 Apr 2022 https://www.nato.int/cps/en/natohq/opinions_194508.htm
Retrieved 08 Apr 2022 https://www.nato.int/cps/en/natohq/opinions_194330.htm
Retrieved 08 Apr 2022 https://news.un.org/en/story/2022/04/1115782
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