EUR/USD
The EUR/USD pair trades in a limited range around 1.1440 during Asian trading hours on Friday. The major currency pair consolidates as investors await the United States Nonfarm Payrolls data for May, which will be published at 12:30 GMT.
GBP/USD
GBP/USD maintains its position near 1.3616, the highest since February 2022, which was recorded on June 5. The pair is trading around 1.3570, with little moves ahead of labor market data from the United States.
USD/JPY
The Japanese Yen (JPY) builds on its steady intraday descent, which, along with the emergence of some US Dollar (USD) buying, lifts the USD/JPY pair to the 144.00 neighborhood, heading into the European session on Friday. The disappointing release of Japan’s Household Spending data comes on top of a fall in Japan’s real wages for the fourth consecutive month and concerns that global trade tensions may weaken wage momentum. This, in turn, might complicate the Bank of Japan’s (BoJ) efforts to normalize monetary policy, which, along with hopes for the resumption of US-China trade talks, continues to weigh on the safe-haven JPY.
AUD/USD
The Australian Dollar (AUD) declines against the US Dollar (USD) on Friday. The AUD/USD pair may remain stable amid market caution, as traders await the upcoming US Nonfarm Payrolls (NFP) report, due later in the day, seeking fresh insights into the United States (US) economy.
NZD/USD
NZD/USD is trading around 0.6030 during the Asian hours on Friday after retreating from the eight-month high of 0.6081, reached on Thursday. The currency cross holds losses as the US Dollar (USD) gains ground, with traders’ cautious awaiting of the upcoming US Nonfarm Payrolls, which is expected to have added 130,000 jobs in May, below the 177,000 increase in April. Moreover, the Unemployment Rate is also expected to hold steady at 4.2%.
USD/CAD
The USD/CAD pair strives to hold an almost eight-month low of 1.3635 during Friday’s Asian trading session, posted the previous day. The Loonie pair is expected to remain on the sidelines, with investors awaiting the official labor market data from the United States (US) and Canada for May, which will be published at 12:30 GMT.
USD/CHF
The USD/CHF pair extends its gains for the second successive session, trading around 0.8200 during the Asian hours on Friday. However, the bearish bias is prevailing as the pair moves downwards within the descending channel pattern.
CRUDE OIL
Oil prices slipped on Friday but were on track for their first weekly gain in three weeks after U.S. President Donald Trump and Chinese leader Xi Jinping resumed trade talks, raising hopes for growth and stronger demand in the world’s two largest economies.
Gold price regains positive traction following Thursday’s late pullback from a multi-week high. The US-China trade talks optimism might hold back the XAU/USD bulls from placing fresh bets. A modest USD uptick might contribute to capping the commodity ahead of the US NFP report.
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