EUR/USD
EUR/USD is deep in the red near 1.1500 in the European morning on Friday, extending the pullback from multi-year highs. The pair tumbles as the US Dollar receives support from increased safe-haven demand, sparked by Israel’s attack on Iran’s nuclear facility. Iran has vowed retaliation.
GBP/USD
The GBP/USD pair loses ground to near 1.3530 during the early European session on Friday. The Pound Sterling weakens against US Dollar due to heightened risk aversion, fuelled by geopolitical tensions in the Middle East. Investors now await Iran’s response to Israel’s attacks and the US sentiment data.
USD/JPY
The Japanese Yen (JPY) retreats further from over a one-week top touched against the rebounding US Dollar (USD) during the Asian session on Friday, pushing the USD/JPY pair to a fresh daily peak, around the 143.75 area in the last hour. Reports that the Bank of Japan (BoJ) will keep the benchmark rate steady at 0.5% at its upcoming meeting next week turn out to be a key factor weighing on the JPY. Investors, however, seem convinced that the BoJ will stick to the path toward policy normalization amid the broadening inflation in Japan.
AUD/USD
The Australian Dollar (AUD) declines against the US Dollar (USD) on Friday, with over 1% losses. The AUD/USD pair depreciates due to escalating tensions in the Middle East.
NZD/USD
The NZD/USD pair trades in negative territory near 0.6065 during the early Asian session on Friday. The New Zealand Dollar (NZD) softens against the US Dollar (USD) as losses in equity markets dampened risk sentiment. The advanced US Michigan Consumer Sentiment will be in the spotlight later on Friday.
USD/CAD
The USD/CAD pair stages a modest recovery from sub-1.3600 levels, or its lowest level since October 2024 touched during the Asian session on Friday and reverses a major part of the previous day’s losses. The momentum lifts spot prices to a fresh daily top, closer to mid-1.3600s in the last hour, and is exclusively sponsored by the rebounding US Dollar (USD).
USD/CHF
USD/CHF extends its losing streak for the third successive session, trading around 0.8070 during the Asian hours. The pair has recorded a two-month low of 0.8056 as the Swiss Franc (CHF) receives support from increased safe-haven demand amid escalating tensions in the Middle East.
CRUDE OIL
Oil prices surged more than 9% on Friday, hitting their highest in almost five months after Israel struck Iran, dramatically escalating tensions in the Middle East and raising worries about disrupted oil supplies.
Gold price consolidates below seven-week highs of $3,445 early Friday. Israel confirmed strikes on Iran’s nuclear facilities, fuelling a broad wave of risk aversion while driving the safe-haven Gold price through the roof. Rising Fed rate cut bets also underpin the non-yielding Gold.
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