EUR/USD
The EUR/USD pair struggles to capitalize on the previous day’s solid bounce from the 1.1200 neighborhood, or a one-and-a-half week low, and trades with a mild negative bias during the Asian session on Friday. Spot prices currently hover around the mid-1.1300s, down nearly 0.15% for the day, though the downside remains cushioned.
GBP/USD
The GBP/USD pair attracts fresh sellers following the previous day’s goodish rebound from the 1.3415 area amid a modest US Dollar uptick. Spot prices currently trade around the 1.3475-1.3470 region, down 0.15% for the day, though the downside seems limited as traders might opt to wait for the release of the US PCE Price Index.
USD/JPY
The Japanese Yen (JPY) maintained its bid tone through the Asian session on Friday amid the growing acceptance that the Bank of Japan (BoJ) will continue raising interest rates. The bets were reaffirmed by the upbeat macro data from Japan, including strong Tokyo consumer inflation figures released earlier today. Apart from this, reviving safe-haven demand on the back of persistent trade-related uncertainties turns out to be another factor underpinning the JPY.
AUD/USD
The AUD/USD pair gains ground to near 0.6445 during the early Asian session on Friday. The US Dollar (USD) edges lower against the Australian Dollar (AUD) due to the resurgence of trade uncertainty and disappointing US economic data. The US April Personal Consumption Expenditures (PCE) Price Index report Will be in the spotlight later on Friday.
NZD/USD
NZD/USD holds ground after trimming daily gains, trading around 0.5960 during the Asian hours on Friday. The pair offered its gains after weaker economic data was released from New Zealand. Traders will likely observe the US April Personal Consumption Expenditures (PCE) Price Index report, scheduled to be released on Friday.
USD/CAD
The USD/CAD pair trades in a negative territory around 1.3810 during the early Asian session on Friday. The concerns that a US court ruling would change the outlook for US tariffs weigh on the Greenback. Investors will closely monitor the US April Personal Consumption Expenditures (PCE) Price Index and the Canadian Gross Domestic Product (GDP) data, which are due later on Friday.
USD/CHF
The US Dollar rallied earlier on Thursday, to find sellers at the 0.8345 area. The pair is showing marginal gains on the daily chart, but a test of the 0.8265 support is on the cards, with the Dollar retreating against its main peers.
CRUDE OIL
Oil prices were on track for a second consecutive weekly decline on Friday, weighed down by expectations of another OPEC+ output hike in July and fresh uncertainty after the latest legal twist kept U.S. President Donald Trump’s tariffs in place.
Gold price maintains its offered tone heading into the European session on Friday and currently trades just below the $3,300 round figure. The intraday downtick is sponsored by a modest US Dollar strength, which tends to undermine demand for the commodity. However, a combination of factors assists the precious metal in holding above a one-week low touched on Thursday.
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