EUR/USD
The EUR/USD pair trades in a tight range around 1.1760 during the Asian session on Friday. The major currency pair exhibits a lackluster performance amid a holiday in the United States markets on account of Independence Day.
GBP/USD
GBP/USD holds ground for the second consecutive day, trading around 1.3660 during the Asian hours on Friday. The pair remains steady as the US Dollar depreciates as traders adopt caution while seeking clarity on US President Donald Trump’s plans for tariffs on various countries.
USD/JPY
The Japanese Yen (JPY) builds on its intraday ascent, which, along with a modest US Dollar (USD) downtick, drags the USD/JPY pair back below mid-144.00s during the Asian session on Friday. Strong Household Spending data released earlier today from Japan revives Bank of Japan (BoJ) rate hike bets and provides a modest lift to the JPY. Apart from this, the uncertainty over US President Donald Trump’s further benefit the safe-haven JPY.
AUD/USD
The Australian Dollar (AUD) extends its losses against the US Dollar (USD) on Friday, as stronger-than-expected US job growth and a surprise drop in the unemployment rate data overshadow investors’ hopes for a Federal Reserve (Fed) interest rate cut.
NZD/USD
NZD/USD remains subdued for the third successive session, trading around 0.6070 during the Asian hours on Friday. The pair depreciated as the US Dollar (USD) received support from stronger-than-expected US job growth and a surprise drop in the unemployment rate data, overshadowing investors’ hopes for a Federal Reserve (Fed) interest rate cut.
USD/CAD
The USD/CAD pair trades lower to near 1.3570 during the European session on Friday, aiming to revisit the eight-month low around 1.3540. The Loonie pair faces selling pressure as the US Dollar (US) gives back its entire gains in the aftermath of the United States (US) Nonfarm Payrolls (NFP) data for June, released on Thursday.
USD/CHF
The Swiss Franc (CHF) is weakening against the US Dollar (USD) as traders digest the latest economic data releases from the two nations. The Swiss Franc’s status as a safe-haven asset, along with the flow of funds into risk assets, has limited its ability to extend gains against the Greenback, pushing USD/CHF toward psychological resistance at 0.8000.
CRUDE OIL
Oil prices fell slightly in Asian trade on Friday with focus squarely on an upcoming OPEC+ meeting for more cues on production, while further losses in crude were stemmed by more U.S. sanctions on Iran.
Gold price attracts some dip-buying on Friday and reverses a part of the previous day’s retracement slide from a one-and-a-half-week high. The US Dollar struggles to capitalize on Thursday’s post-NFP gains amid concerns that US President Donald Trump’s ‘One Big Beautiful Bill’ would worsen the country’s fiscal situation.
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