EUR/USD
The Euro (EUR) is trading lower against the US Dollar (USD) for the fourth consecutive day on Friday, changing hands at 1.1855 at the time of writing, down from its weekly high of 1.1928. Renewed concerns about AI have crushed market sentiment ahead of the releases of the Eurozone’s Preliminary Gross Domestic Product (GDP) and the US Consumer Price Index (CPI), due later on Friday.
GBP/USD
The Pound Sterling edged higher to 1.3640 on Thursday, recovering from an earlier pullback after stronger-than-expected US jobs data initially weighed on the pair. The Bank of England (BoE) held rates at 3.75% at its February 4 meeting in a narrow 5-4 vote split, with four members preferring a 25 basis point cut to 3.50%. Governor Andrew Bailey voted with the majority to hold but said he sees “scope for some further easing” and expects “a sharp drop in inflation over coming months,” with the BoE projecting CPI to fall back to the 2% target by April. UK Q4 2025 Gross Domestic Product (GDP) data released on February 12 showed growth of just 0.1%, with monthly GDP for December also rising 0.1%, confirming the sluggish pace of the UK economy. Sterling found some support from easing domestic political uncertainty after Prime Minister Keir Starmer secured backing from senior cabinet members following the resignation of his chief of staff Morgan McSweeney amid the Lord Peter Mandelson scandal.
USD/JPY
The USD/JPY pair gains some positive traction during the Asian session on Friday and moves away from an over two-week low, around the 152.30-152.25 region, touched the previous day. Spot prices, however, lack bullish conviction and currently trade and remain below the 153.00 mark amid mixed cues.
AUD/USD
The AUD/USD pair oscillates in a narrow trading band below the 0.7100 mark through the Asian session as traders move to the sidelines ahead of Friday’s release of the latest US consumer inflation figures. Nevertheless, spot prices remain close to a three-year high, touched on Thursday, and seem poised to register gains for the fourth week in a row.
NZD/USD
The NZD/USD pair finds some support near the 0.6025 region during the Asian session on Friday and, for now, seems to have stalled the previous day’s retracement slide from a two-week high. Spot prices, however, lack any firm intraday directional bias as traders opt to wait for the release of the latest US consumer inflation figures.
USD/CAD
The USD/CAD pair is seen building on this week’s goodish rebound from the 1.3500 psychological mark and gaining positive traction for the third consecutive day on Friday. The momentum lifts spot prices to a four-day high, around the 1.3630 region, during the early European session, and is sponsored by a combination of factors.
USD/CHF
The USD/CHF pair trades in positive territory near 0.7700 during the early European session on Friday. Growing expectations that the US Federal Reserve (Fed) will not cut interest rates in the near term provide some support to the Greenback against the Swiss Franc (CHF). Traders brace for the Consumer Price Index (CPI) inflation reports from Switzerland and the United States (US) later on Friday.
CRUDE OIL
Oil prices slipped on Friday and were on track for a second weekly decline on receding concerns of a U.S.-Iran conflict that could affect supply.
Gold (XAU/USD) retreats from the vicinity of the $5,000 psychological mark, though sticks to its modest intraday gains heading into the European session on Friday. Traders now look forward to the release of the US consumer inflation figures for more cues about the Federal Reserve’s (Fed) policy path. The outlook will, in turn, play a key role in influencing the near-term US Dollar (USD) price dynamics and provide some meaningful impetus to the non-yielding bullion.
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