EUR/USD
The EUR/USD pair posts modest gains around 1.1730 during the early Asian session on Monday, supported by growing optimism surrounding a potential US-Iran peace deal. Markets might turn cautious later in the day ahead of the highly-anticipated US Nonfarm Payrolls (NFP) report for April.
GBP/USD
GBP/USD edged slightly lower to around 1.3550 on Thursday, lower around 0.3% after the pair touched a session high near 1.3645 before turning back down. Price has been holding a roughly 100-pip range below the multi-month peak just under 1.3660, with a series of overlapping candles after the strong rally off May 1 swing lows close to 1.3450.
USD/JPY
USD/JPY recovered close to 156.90 on Thursday, edging up roughly 0.4% from Wednesday’s slide to 155.04, the lowest level since early February. The plunge tore through the late-April peak near 160.70 and the consolidation that followed, leaving a series of long-bodied bearish candles before the pair stabilized between 156 and 157.50 in recent sessions.
AUD/USD
AUD/USD edged about 0.2% lower on Thursday to around 0.7205, easing back from a multi-year peak just shy of 0.7280 reached earlier in the session. The pullback follows a strong rally of roughly 175 pips off the May 1 swing low near 0.7105, with the move building on a sequence of higher lows since late April before the upside stalled into fresh resistance.
NZD/USD
NZD/USD appreciates after registering modest losses in the previous day, trading around 0.5940 during the Asian hours on Friday. The pair holds gains as the New Zealand Dollar (NZD) receives support from improving market sentiment driven by the de-escalation of renewed tensions in the Middle East.
USD/CAD
USD/CAD depreciates after two days of gains, trading around 1.3660 during the Asian hours on Friday. The pair weakens as the US Dollar (USD) softens amid improving market sentiment driven by the de-escalation of renewed tensions in the Middle East. Separate statements from Israel and Iran suggested that hostilities have, for the time being, subsided. US President Donald Trump also stated that the ceasefire between the US and Iran remains intact.
USD/CHF
USD/CHF holds gains for the second successive day, trading around 0.7810 during the Asian hours on Friday. The pair remains stronger as the US Dollar (USD) holds firm following modest gains recorded in the previous session.
CRUDE OIL
Oil prices rose about 1% on Friday after renewed fighting broke out between the U.S. and Iran, threatening a shaky ceasefire and dashing hopes for progress on a reopening of the Strait of Hormuz, a key transit route for oil and liquefied natural gas.
Gold (XAU/USD) clings to modest intraday gains through the Asian session on Friday and remains well within striking distance of an over two-week top, touched the previous day. Despite renewed hostilities in the Strait of Hormuz, investors seem hopeful over a potential US-Iran peace deal. This triggers a fresh leg down in Crude Oil prices, easing inflationary concerns and tempering bets for a more hawkish US Federal Reserve (Fed). The outlook, in turn, keeps a lid on any further US Dollar (USD) appreciation and turns out to be a key factor acting as a tailwind for the bullion.
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