EUR/USD
The EUR/USD pair resumes the downside, breaking below 1.1500 in the early European hours on Friday to trade at levels last seen in November 2025, as the US Dollar (USD) finds fresh haven demand in a risk-averse environment.
The Iran war has no end in sight, with tensions escalating on a daily basis. The latest on the matter shows the Strait of Hormuz remains closed by Iranian forces, while the new Supreme Leader, Mojtaba Khamenei, stated that the Strait should remain closed as a tool to pressure the enemy, adding Iran will avenge the blood of its martyrs. He also said that attacks will “inevitably” continue.
GBP/USD
The GBP/USD pair turns lower for the fourth straight day following an intraday uptick to the 1.3370 area on Friday. The selling bias picks up pace in reaction to mostly disappointing UK macro data, which, along with a broadly firmer US Dollar (USD), drags spot prices below the 1.3300 mark during the early European session.
USD/JPY
USD/JPY extends its winning streak for the fourth successive session, trading around 159.40 during the early European hours on Friday. The pair remains stronger as the US Dollar (USD) may hold its ground as futures markets and economists expect the Federal Reserve to keep interest rates unchanged at next week’s policy meeting, with the benchmark federal funds rate currently at 3.50%–3.75%.
AUD/USD
The AUD/USD pair loses traction to around 0.7060 during the early European session on Friday. The pair retreats from near three-year highs as rising tensions in the Middle East boost the safe-haven flows, supporting the US Dollar (USD).
NZD/USD
NZD/USD trades lower on Thursday, hovering around 0.5860 at the time of writing and down 0.90% on the day. The pair is posting a third consecutive daily decline, pressured by renewed strength in the US Dollar (USD) and rising geopolitical tensions.
The US Dollar is gaining traction as markets reassess expectations for monetary policy. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, is trading near 99.70, close to its highest level since November.
USD/CAD
The Canadian Dollar (CAD) edges lower against the US Dollar (USD) on Thursday, pressured by sustained demand for the Greenback amid the ongoing US-Iran war. At the time of writing, USD/CAD is trading around 1.3621, extending its rebound after falling to one-month lows near 1.3525 earlier this week.
USD/CHF
The USD/CHF pair prolongs its uptrend for the fourth straight day and climbs to the 0.7870 region, back closer to the monthly peak during the Asian session on Friday. Spot prices remain on track to register gains for the second consecutive week as traders now look to the US Personal Consumption Expenditures (PCE) Price Index for a fresh impetus.
CRUDE OIL
Oil prices headed for weekly gains as of Friday, despite the U.S. trying to ease supply concerns by issuing a 30-day license for countries to buy Russian oil and petroleum products stranded at sea.
Gold (XAU/USD) trims a part of its modest intraday gains and slides back below the $5,100 mark heading into the European session on Friday. Geopolitical risks remain in play amid a further escalation of conflicts in the Middle East. This assists the safe-haven commodity to attract dip-buyers near the lower boundary of the trading range held over the past two weeks or so and recover a part of its losses recorded over the past two days. Iran’s new supreme leader, Mojtaba Khamenei, warned during his first public statement that all US military bases in the region should be immediately closed or will be attacked. Khamenei further added that attacks against US bases in the region would continue, even though Iran believes in goodwill with its neighbors.
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