EUR/USD
EUR/USD has recovered its daily losses, trading around 1.1200 during the Asian hours on Friday. The pair receives support as the US Dollar (USD) weakens following the recent economic data released on Thursday.
GBP/USD
The GBP/USD pair edges higher to around 1.3310 during the Asian trading hours on Friday. The Greenback weakens against the Pound Sterling (GBP) as downside surprises in the US economic data this week raise bets of more Federal Reserve (Fed) rate cuts this year. Traders will keep an eye on the preliminary University of Michigan Consumer Sentiment Index, along with the US Building Permits, Housing Starts, which are due later on Friday.
USD/JPY
USD/JPY rebounds from weekly lows toward 145.50 in the Asian session amid the divergent BoJ-Fed policy expectations. The BoJ is widely expected to hike rates again in 2025 despite weaker-than-expected Japan’s Q1 GDP print. In contrast, this week’s softer US inflation figures boost the case for more rate cuts by the Fed.
AUD/USD
AUD/USD has picked up fresh bids above 0.6400 in the Asian session on Thursday. Renewed US Dollar weakness on fading US trade deals optimism overshadow bets that the RBA will cut rates next week. All eyes remain on US data and Fedspeak.
NZD/USD
NZD/USD halts its two-day losing streak, trading around 0.5890 during the Asian hours on Friday. The pair advances after the release of the Reserve Bank of New Zealand (RBNZ) Inflation Expectations for Q2 2025.
USD/CAD
The USD/CAD pair loses ground to near 1.3955 during the early Asian session on Friday. The Greenback weakens against the Canadian Dollar (CAD) as US economic data fueled speculation that the Federal Reserve (Fed) will resume interest rate cuts in the coming months.
USD/CHF
USD/CHF remains pressured near the 0.8360 level on Thursday, extending its consolidation within this week’s range. The pair is struggling to gain traction amid mixed US economic data and a resilient Swiss economy.
CRUDE OIL
Oil prices held steady on Friday, heading for a second consecutive weekly gain due to easing U.S.-China trade tensions though a potential return of Iranian supply limited price gains.
Gold price struggles to capitalize on the previous day’s strong recovery move from the $3,120 region, or the lowest level since April 10, and attracts some sellers during the Asian session on Friday. The US-China trade truce for 90 days has eased some of the pressure on global markets and is seen as a key factor acting as a headwind for the safe-haven bullion.
Any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination. For the full Risk Disclaimer click here.
