EUR/USD
EUR/USD stays relatively quiet above 0.9800 during the European trading hours on Friday after having registered strong gains in the previous two days. Investors await HICP inflation data from the euro area and the Personal Consumption Expenditure Price Index data from the US.
GBP/USD
Following Thursday’s impressive upsurge, GBP/USD trades in a relatively tight range above 1.1100 early Friday. The data from the UK revealed that the GDP grew at an annualized rate of 4.4% in the second quarter, compared to the market expectation for an expansion of 2.9%.
USD/JPY
The USD/JPY pair is displaying a slowdown in the upside momentum after reaching around 144.80 in the Tokyo session. Earlier, the asset rebounded firmly after dropping to near 144.30. Broadly, the major is displaying topsy-turvy moves as investors are awaiting a potential trigger for informed action.
AUD/USD
The AUD/USD pair has slipped below the 0.6500 mark after failing to test Thursday’s high at 0.6525. The decline in the asset is gradual as the upside bias is intact and amid an overall weakness in the US dollar index (DXY).
NZD/USD
The NZD/USD pair has dropped marginally below 0.5730 in the Tokyo session after facing barricades around 0.5750. The asset is marching towards 0.5800 despite a downbeat China’s Caixin Manufacturing PMI data. The economic data has landed at 48.1, lower than the expectations and the prior release of 49.5.
USD/CAD
The NZD/USD pair has dropped marginally below 0.5730 in the Tokyo session after facing barricades around 0.5750. The asset is marching towards 0.5800 despite a downbeat China’s Caixin Manufacturing PMI data. The economic data has landed at 48.1, lower than the expectations and the prior release of 49.5.
USD/CHF
The USD/CHF pair is eyeing more weakness in the Asian session amid a drop below 0.9750. The asset is declining towards the 0.9700 mark as the US dollar index (DXY) is going through severe pain on expectations of a slowdown in the pace of hiking interest rates by the Federal Reserve (Fed).
CRUDE OIL
Oil prices rose slightly on Friday, but were set for a fourth straight month of losses amid growing concerns over weakening demand, with focus now turning to a potential supply cut by the OPEC next week.
GOLD
Gold struggles to capitalize on its goodish rebound from more than a two-year low touched earlier this week and oscillates in a range through the Asian session on Friday. The US dollar languishes near the weekly low and is a key factor in offering some support to the dollar-denominated commodity.
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