EUR/USD buyers approach the five-month high marked on Monday amid the broad US Dollar weakness during early Friday. The major currency pair prints the three-day winning streak after rising for two consecutive weeks in the last.
GBP/USD stays on the front foot for the third consecutive day during early, despite the latest retreat from the intraday high surrounding 1.2270. In doing so, the Cable pair braces for the Bank of England’s (BOE) hawkish move during its next week’s monetary policy.
The USD/JPY pair has attempted a rebound move around 136.60 in the Tokyo session. The asset was trading sideways earlier but is now aiming to deliver gains despite an upbeat market mood. The US Dollar Index (DXY) is auctioning below the critical mark of 105.00 and is likely to remain on edge amid a decline in safe-haven’s appeal.
The AUD/USD pair is gathering momentum to surpass the immediate mark of 0.6800 in the Tokyo session. The Aussie asset has gained strength as investors have underpinned the risk appetite theme. The major is holding its morning gains amid an intense sell-off in the US Dollar Index (DXY). The USD Index is hovering around 104.50 and is expected to re-test weekly lows around 104.10.
NZD/USD makes rounds to 0.6380 during Friday’s Asian session, after rising in the last three consecutive days, as mixed data from New Zealand (NZ) probes the Kiwi pair traders. Also likely to have challenged the bulls is the cautious mood ahead of the key statistics from the US and China, as well as the pair’s first weekly loss in eight.
USD/CAD extends pullback from intraday high to 1.3580 as it probes the first weekly gain in three during early Friday. The Loonie pair’s latest losses could be linked to the recovery in oil prices, Canada’s key export item, as well as the US Dollar’s failure to rebound despite the sour sentiment.
USD/CHF prints a four-day downtrend as sellers poke the lowest levels in eight months around 0.9325, marked the last Friday. That said, the Swiss Franc (CHF) pair remains pressured around 0.9335 during early the early Asian session.
Oil prices bounced on Friday as closure of a major Canada-to-U.S. crude pipeline disrupted supplies, but both benchmarks were headed for a weekly loss on worries over slowing global demand growth.
Gold price stays on the front foot for the fourth consecutive day as it cheers the broad-based US Dollar weakness to poke $1,800. Further, optimism surrounding China adds strength to the bullion’s run-up as traders await early signals for US inflation.
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