EUR/USD
The EUR/USD pair retreats from a 10-week high to near 1.1735 during the early European session on Friday, pressured by a modest rebound in the US Dollar (USD). The potential downside for the major pair might be limited amid the prospect of the US Federal Reserve (Fed) rate cuts next year. The final reading of the German Harmonized Index of Consumer Prices (HICP) will be released later on Friday.
GBP/USD
GBP/USD is holding firmly in bullish territory heading into the tail end of the week, but Cable bidders ran into a technical resistance point at the 1.3400 handle on Thursday. The Federal Reserve (Fed) delivered a third straight interest rate cut this week, bolstering broad-market risk appetite and pushing the US Dollar (USD) into the low side across the board.
USD/JPY
The USD/JPY pair attracts some sellers to around 155.60 during the early Asian session on Friday. The US Dollar (USD) edges lower against the Japanese Yen (JPY) amid worse-than-anticipated US employment data and a less hawkish outlook than expected from the US Federal Reserve (Fed).
AUD/USD
The AUD/USD pair turns sideways as the three-week rally hits a pause after posting a fresh three-month high at 0.6686 on Wednesday. During Friday’s early European trading hours, the Aussie pair trades calmly near 0.6660.
NZD/USD
The NZD/USD pair trades in positive territory near 0.5815 during the early Asian session on Friday. Weaker-than-anticipated US employment data weigh on the Greenback against the New Zealand Dollar (NZD). The Federal Reserve (Fed) officials are set to speak later in the day, including Beth Hammack and Austan Goolsbee.
USD/CAD
The USD/CAD pair is seen oscillating in a narrow range during the Asian session on Friday and consolidating its recent heavy losses to the lowest level since September 17, which it touched the previous day. Spot prices currently trade around the 1.3770 region, nearly unchanged for the day, and seem vulnerable to decline further.
USD/CHF
The USD/CHF pair remains fragile near 0.7950 during the European trading session on Friday. The Swiss Franc pair is under pressure as traders expect the Federal Reserve (Fed) to deliver at least two interest rate cuts in 2026.
CRUDE OIL
Oil prices rose on Friday as the prospect of the U.S. intercepting more Venezuelan oil tankers deepened supply concerns, but remained on track for a weekly decline amid optimism over a possible Russia-Ukraine peace agreement.
Gold (XAU/USD) remains on the back foot through the Asian session on Friday, though it lacks follow-through and trades near its highest level since October 21, touched the previous day. A generally positive tone around the equity markets undermines demand for traditional safe-haven assets and acts as a headwind for the commodity. However, dovish US Federal Reserve (Fed) expectations, which had been a key factor behind the recent US Dollar (USD) slump to a two-month low, continue to lend support to the non-yielding yellow metal.
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