EUR/USD
The EUR/USD pair ticks lower for the second consecutive day on Friday and moves away from a nearly three-week top touched the previous day. Spot prices, however, lack follow-through selling and currently trade around the 1.1740 region, down less than 0.10% for the day.
GBP/USD
GBP/USD struggles to hold its ground and trades slightly below 1.3500 in the European session on Friday. The data from the UK showed that Retail Sales rose at a softer pace than expected in June, making it difficult for Pound Sterling to stage a rebound.
USD/JPY
The Japanese Yen (JPY) trims a part of its intraday losses against a broadly stronger US Dollar (USD), though it retains the negative bias amid diminishing odds for an immediate interest rate hike by the Bank of Japan (BoJ). Data released earlier this Friday showed that consumer inflation in Japan’s capital city, Tokyo. This comes on top of domestic political uncertainty, which, in turn, could complicate the BoJ’s policy normalization path. Adding to this, the recent risk-on rally turns out to be another factor undermining the safe-haven JPY.
AUD/USD
The Australian Dollar (AUD) declines against the US Dollar (USD) on Friday, extending its losses for the second consecutive day. The AUD/USD pair continues to lose ground after pulling back from an eight-month high of 0.6625, which was reached on Thursday.
NZD/USD
The NZD/USD pair attracts some buyers to near 0.6035 during the early Asian trading hours on Friday. Optimism surrounding fresh US trade deals provides some support to the New Zealand Dollar (NZD) against the Greenback. Later on Friday, US Durable Goods Orders for June will be published.
USD/CAD
The USD/CAD pair trades 0.25% higher to near 1.3670 at the start of the European trading session on Friday. The Loonie pair rises as the US Dollar (USD) gains ground on hopes that the impact of the tariff policy introduced by United States (US) President Donald Trump since his return to the White House will be limited on the economy.
USD/CHF
The USD/CHF pair trades on a positive note around 0.7965 during the early European session on Friday. Optimism surrounding US trade deals provides some support to the Greenback. However, the upside for the pair might be limited as markets might turn cautious ahead of crucial events next week.
CRUDE OIL
Oil prices rose on Friday as trade talk optimism supported the outlook for both the global economy and oil demand, outweighing news of the potential for more oil supply from Venezuela.
Gold price attracts sellers for the third straight day amid some follow-through USD strength. Trade optimism and the upbeat market mood further undermine the precious metal. The Fed uncertainty could cap the USD and help limit losses for the non-yielding commodity.
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