EUR/USD
EUR/USD recovers its recent losses registered in the previous day, trading around 1.1630 during the Asian hours on Friday. The pair appreciates as the US Dollar loses ground amid easing risk sentiment following the dovish remarks from Federal Reserve officials.
GBP/USD
GBP/USD gains ground after registering small losses in the previous session, trading around 1.3440 during the Asian hours on Friday. The pair appreciates as the US Dollar edges lower due to dovish remarks from the Federal Reserve officials.
USD/JPY
The Japanese Yen (JPY) ticks lower against its American counterpart during the Asian session on Friday and remains well within striking distance of over three-month low touched earlier this week. The growing acceptance that the Bank of Japan (BoJ) would forgo raising interest rates this year continues to act as a headwind for the JPY. Apart from this, the risk-on environment undermines the safe-haven JPY, which moves little following the release of the latest consumer inflation figures from Japan.
AUD/USD
The Australian Dollar (AUD) advances on Friday, recovering its more than 0.5% losses from the previous session. The AUD/USD pair appreciates as the US Dollar (USD) faces challenges due to dovish remarks from the Federal Reserve (Fed) officials.
NZD/USD
The NZD/USD pair rises 0.4% to near 0.5955 during the Asian trading session on Friday. The Kiwi pair gains as the US Dollar (USD) struggles to extend its over two-week rally amid uncertainty surrounding trade talks between the United States (US) and the European Union (EU).
USD/CAD
The USD/CAD pair drifts lower during the Asian session on Friday and moves away from a three-and-a-half-week high, around the 1.3775 region touched the previous day. Spot prices, however, lack bearish conviction and trade just below mid-1.3700s, down less than 0.10% for the day.
USD/CHF
The USD/CHF pair tumbles to around 0.8030 during the early European session on Friday. Persistent trade tensions and Federal Reserve (Fed) policy uncertainty boost the safe-haven demand, supporting the Swiss Franc (CHF). The preliminary reading of the University of Michigan Consumer Sentiment will be the highlight later on Friday. Also, the US Building Permits and Housing Starts will be released.
CRUDE OIL
Oil prices extended gains on Friday, underpinned by supply concerns following drone attacks on northern Iraqi oilfields and tight market fundamentals amid healthy summer demand.
Gold price struggles to capitalize on the overnight bounce from the $3,309 area and oscillates in a narrow trading band during the Asian session on Friday. The US Dollar moved further away from its highest level since June 23, touched on Thursday following dovish remarks from Fed Governor Christopher Waller.
Any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination. For the full Risk Disclaimer click here.
