EUR/USD
The EUR/USD pair recovers some lost ground around 1.1080, snapping the two-day losing streak on early Friday. However, the upside might be limited as traders might prefer to wait on the sidelines ahead of the German July Retail Sales and US July Personal Consumption Expenditure Price Index.
GBP/USD
GBP/USD loses ground for the third successive session, trading around 1.3160 during the Asian hours on Friday. This downside could be attributed to the improved US Dollar following stronger-than-expected economic data released on Thursday.
USD/JPY
The Japanese Yen (JPY) retraces its recent gains against the US Dollar (USD) following the Tokyo Consumer Price Index (CPI) data released on Friday. The increase in Tokyo inflation strengthens the Bank of Japan’s (BoJ) hawkish monetary policy stance, supporting the JPY and putting downward pressure on the USD/JPY pair.
AUD/USD
The Australian Dollar (AUD) remains steady against the stable US Dollar (USD) following the Retail Sales report on Friday, which showed no growth month-on-month in July, falling short of the anticipated 0.3% and the previous 0.5% increase. However, stronger-than-expected US Gross Domestic Product (GDP) data for the second quarter released on Thursday has put pressure on the AUD/USD pair.
NZD/USD
The NZD/USD pair extended its winning streak to three consecutive sessions on Thursday, rising to a high of 0.6300 and then stabilizing at 0.6250. As buyers got quickie rejected the buying steam seems to be running out of steam.
USD/CAD
The USD/CAD pair trades with mild gains near 1.3490 during the early Asian session on Friday. The stronger-than-expected US economic growth provides some support to the US Dollar (USD). The markets might turn cautious ahead of the key US economic data, which is due later in the day.
USD/CHF
The USD/CHF pair remains under selling pressure near 0.8405 during the early European trading hours on Friday. The dovish remarks from US Federal Reserve (Fed) officials continue to undermine the US Dollar (USD).
CRUDE OIL
Oil prices moved little in Asian trade on Friday amid persistent concerns over tighter supplies in Libya and Iraq, but were still nursing losses for August as traders feared a looming slowdown in demand.
Gold price is back in the red early Friday, having run into stiff resistance once again near $2,530 on Thursday. Gold buyers turn cautious and refrain from placing fresh bets heading into the US core Personal Consumption Expenditures inflation showdown.
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