EUR/USD
The EUR/USD pair gains ground around 1.1575, snapping the four-day losing streak during the Asian trading hours on Friday. The potential upside for the major pair might be limited as the political turmoil in France weighed on the Euro. The preliminary reading of the U-Mich Consumer Sentiment report will be in the spotlight later on Friday.
GBP/USD
GBP/USD inches higher after three days of losses, trading around 1.3310 during the Asian hours on Friday. The pair may appreciate as the Pound Sterling may gain ground amid cautious sentiment surrounding the Bank of England’s monetary policy stance.
USD/JPY
The USD/JPY pair extends the rally to around 153.05 during the early Asian session on Friday, bolstered by a firmer US dollar (USD). The Greenback edges higher to its highest since February against the Japanese Yen (JPY) amid the lack of progress around the US government shutdown.
AUD/USD
The current price movements are likely part of a sideways trading phase between 0.6570 and 0.6605. In the longer run, the odds of AUD breaking below 0.6555 are increasing, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
NZD/USD
NZD/USD remains weaker for the fourth successive session, trading around 0.5750 during the Asian hours on Friday. The pair holds losses following September’s Business NZ Performance of Manufacturing Index (PMI), which held steady at 49.9, remaining in contraction.
USD/CAD
USD/CAD moves little after reaching a six-month high of 1.4033 in the previous session, trading around 1.4020 during the Asian hours on Friday. The pair gained around 0.5% on Thursday as the commodity-linked Canadian Dollar (CAD) faced challenges amid lower crude Oil prices.
USD/CHF
USD/CHF pair strengthens on Friday, up 0.30% for the day to 0.8010 at the time of writing, its highest level for a month, as the US Dollar (USD) maintains a firm tone despite the prolonged US government shutdown.
CRUDE OIL
The U.S. imposed sanctions on about 100 individuals, entities and vessels, including a Chinese independent refinery and terminal, that helped Iran’s oil and petrochemicals trade, the administration of President Donald Trump said on Thursday.
Gold sticks to its negative bias for the second straight day, though it lacks follow-through selling. The USD retreats slightly from an over two-month peak and acts as a tailwind for the commodity. Fed rate cut bets, the US government shutdown, and geopolitical risks support the precious metal.
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