EUR/USD
The EUR/USD pair attempts to regain ground near 1.1770 during the Asian trading session on Friday. The major currency pair attracts slight bids as the US Dollar ticks down amid an improvement in speculation that the Federal Reserve (Fed) could cut interest rates in the March policy meeting
GBP/USD
The GBP/USD pair adds to the previous day’s dovish Bank of England (BoE)-inspired heavy losses and drifts lower for the third straight day on Friday. The downward trajectory is sponsored by sustained US Dollar (USD) buying and drags spot prices to a two-week low during the Asian session, with bears now awaiting a break below the 1.3500 psychological mark before placing fresh bets.
USD/JPY
The USD/JPY pair gains momentum to a two-week high near 157.00 during the early Asian session on Friday. The Japanese Yen (JPY) remains under selling pressure against the US Dollar (USD) ahead of Japan’s snap general election on Sunday. The preliminary reading of the Michigan Consumer Sentiment Index report for February will be released later on Friday.
AUD/USD
The Australian Dollar (AUD) advanced against the US Dollar (USD), recovered its losses on Friday. The AUD/USD pair faced challenges amid broad-based selling in global equities and other risk-sensitive assets. The commodity-linked AUD, often seen as a liquid barometer of global risk sentiment, came under pressure as a tech-driven stock sell-off, sparked by worries over heavy AI-related spending, rattled investor confidence.
NZD/USD
The NZD/USD pair attracts some sellers to around 0.5940 during the early Asian session on Friday, pressured by a stronger US Dollar (USD). The rising Unemployment Rate in New Zealand weighs on the Kiwi, dragging the pair to the lowest level in almost two weeks. Traders will keep an eye on the preliminary reading of the Michigan Consumer Sentiment Index report for February, which will be released later on Friday.
USD/CAD
The USD/CAD pair trades with mild losses near 1.3685 during the early European session on Friday. The US Dollar (USD) softens against the Canadian Dollar (CAD) amid weaker-than-expected US economic data and a rise in crude oil prices. The preliminary reading of the Michigan Consumer Sentiment Index report for February will be in the spotlight later on Friday.
USD/CHF
The USD/CHF pair trades 0.22% lower to near 0.7765 during the late Asian trading session on Friday. The Swiss Franc pair is under pressure as the rally in the US Dollar (USD) has paused, following an increase in dovish Federal Reserve (Fed) expectations.
CRUDE OIL
U.S. crude futures rose slightly on Friday but were on track for their first weekly drop in seven weeks as supply concerns eased, and investors focused on the outcome of U.S.-Iran nuclear talks in Oman later in the day.
Gold (XAU/USD) builds on its goodish intraday bounce from the vicinity of mid-$4,600s, or a four-day low touched during the Asian session on Friday, and climbs to a fresh daily high in the last hour. A turnaround in the risk sentiment drives flow toward traditional safe-haven assets and acts as a tailwind for the commodity. Moreover, bets on more interest rate cuts by the US Federal Reserve (Fed) in 2026, bolstered by signs of weakness in the US job market, turn out to be another factor offering support to the non-yielding yellow metal.
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