EUR/USD
EUR/USD holds ground after two days of losses, trading around 1.1720 during the Asian hours on Friday. Traders await HCOB Purchasing Managers’ Index (PMI) data from the Eurozone and Germany due later in the day. Eurozone Producer Price Index (PPI) will also be eyed.
GBP/USD
GBP/USD halts its four-day positive streak on Thursday. slipping back to two-day lows near 1.3430 amid a modest bounce in the US Dollar. The British Pound finds support in the BoE’s cautious guidance, while the Greenback remains watchful of events surrounding the US government shutdown.
USD/JPY
The Japanese Yen (JPY) extends the previous day’s retracement slide from a two-week top touched against a broadly recovering US Dollar (USD) and attracts some follow-through selling during the Asian session on Friday. Government data showed earlier today that the Unemployment Rate in Japan rose more than expected, to 2.6% in August. This, along with a positive risk tone and domestic political uncertainty, turns out to be a key factor undermining the safe-haven JPY.
AUD/USD
The Australian Dollar (AUD) holds ground against the US Dollar (USD) on Friday after registering losses in the previous session. The AUD/USD pair remains steady following the release of S&P Global Purchasing Managers’ Index (PMI) data.
NZD/USD
The NZD/USD pair attracts fresh buyers following the previous day’s good two-way price swings and holds above the 0.5800 mark through the Asian session on Friday.
USD/CAD
USD/CAD moves little after registering gains in the previous session, trading around 1.3960 during the Asian hours on Friday. The pair hovers around the five-month high of 1.3986, reached on Thursday, as the US Dollar (USD) advances, as traders largely shrug off concerns over the ongoing US government shutdown.
USD/CHF
The USD/CHF pair trades in a tight range around 0.7980 during the late Asian trading session on Friday. The Swiss Franc consolidates as financial market participants struggle to gauge the United States (US) economic outlook, with halt in key economic releases in the wake of the partial government shutdown.
CRUDE OIL
Oil prices rose on Friday after four straight sessions of declines but were on track for their steepest weekly fall since late June due to market expectations that the OPEC+ group could hike output further despite oversupply concerns.
Gold remains confined in a narrow trading band through the first half of the European session as bulls now seem reluctant to place fresh bets amid still overbought conditions. Furthermore, investors seem unfazed by a partial US government shutdown, which is evident from a generally positive tone around the equity markets.
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