EUR/USD
The EUR/USD pair extends its losing streak for the fourth trading day on Friday, trading 0.15% lower to near 1.1653 during the Asian trading session. The major currency pair faces selling pressure as the US Dollar (USD) extends its advance, following positive outcomes of the meeting between United States (US) President Donald Trump and Chinese leader Xi Jinping on Thursday.
GBP/USD
Commerzbank’s Michael Pfister highlights mounting political turmoil in the United Kingdom (UK), with resignations and leadership speculation tightening pressure on Prime Minister Keir Starmer. He sees rising uncertainty over future fiscal policy as negative for the Pound (GBP).
USD/JPY
The USD/JPY pair touches a two-week high during the Asian session on Friday and looks to extend the weekly uptrend amid a broadly firmer US Dollar (USD). Spot prices remain on track to register strong weekly gains and currently trade just below the 158.50 level, up slightly for the fifth consecutive day.
AUD/USD
The AUD/USD pair attracts some sellers to near 0.7205 during the early Asian trading hours on Friday. Markets remain cautious ahead of the second day meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing on Friday.
NZD/USD
NZD/USD slipped 0.4% on Thursday, drifting lower through the session to close at fresh daily lows. The pair has been confined to a broad range in recent weeks, unable to retest the early-March peak near 0.6120. Bearish momentum built through the afternoon, with the daily candle ending near session lows.
USD/CAD
The USD/CAD pair gathers strength to around 1.3755 during the early European trading hours on Friday. The pair is set for its largest weekly gain in more than two months, as rising energy prices stoked inflationary pressures, boosting expectations of a Federal Reserve (Fed) rate hike this year.
USD/CHF
USD/CHF gains ground for the fifth consecutive day, trading around 0.7850 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) advances following the release of robust US Retail Sales data.
CRUDE OIL
Oil prices gained more than 1% after President Donald Trump said he would not be much more patient with Iran and as concerns persisted over ship attacks and seizures despite Tehran saying about 30 vessels had passed through the Strait of Hormuz.
Gold (XAU/USD) prolongs this week’s retracement slide from the monthly peak and drifts lower for the fourth straight day on Friday. The downward trajectory drags the commodity further below the $4,600 mark, or an over one-week trough heading into the European session, and is sponsored by sustained US Dollar (USD) buying interest. The USD Index (DXY), which tracks the Greenback against a basket of currencies, climbs to its highest level since April 8 as US-Iran peace talks remain in limbo amid major disagreements over Tehran’s nuclear program and the Strait of Hormuz. Adding to this, rising bets for interest rate hikes by the US Federal Reserve (Fed) lend additional support to the USD and undermine demand for the non-yielding bullion.
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