EUR/USD
EUR/USD retraces its recent gains registered in the previous session, trading around 1.1170 during the Asian session on Friday. The US Dollar receives support as traders adopt caution ahead of the US Personal Consumption Expenditures Price Index data for August.
GBP/USD
The GBP/USD pair drifts lower during the Asian session on Friday and moves away from its highest levels since March 2022, around the 1.3435 region touched the previous day. Spot prices slide below the 1.3400 mark in the last hour amid a modest US Dollar (USD) uptick, though any meaningful corrective decline still seems elusive.
USD/JPY
USD/JPY is bouncing back toward 146.00 in the Asian session on Friday even as Tokyo CPI inflation data keep hopes of BoJ rate hikes alive. Intensifying risk flows on China’s policy optimism underpin the pair’s renewed upside. The focus shifts to the US PCE inflation data.
AUD/USD
The Australian Dollar (AUD) edges lower against the US Dollar (USD) on Friday. The AUD/USD pair receives downward pressure from a stable Greenback amid improved US Treasury yields. However, the downside of the risk-sensitive AUD could be restrained as news of further stimulus from China, its largest trading partner, lifted market sentiment globally.
NZD/USD
The NZD/USD pair attracts some sellers near the 0.6335 region during the Asian session on Friday and reverses a part of the previous day’s strong move up. Spot prices currently trade around the 0.6300 mark, down 0.30% for the day, though remain within the striking distance of the YTD peak touched earlier this week.
USD/CAD
The USD/CAD pair regains positive traction during the Asian session on Friday and looks to build on this week’s recovery move from the 1.3420 area, or its lowest level since March 8. Spot prices, however, remain below the 1.3500 mark as traders keenly await Friday’s key macro data from the US and Canada before placing aggressive directional bets.
USD/CHF
The USD/CHF pair attracts some buyers to around 0.8485 on Friday during the early European session. The Swiss Franc (CHF) weakens after the Swiss National Bank (SNB) reduced interest rates on Thursday. All eyes will be on the release of US Personal Consumption Expenditures (PCE) Price Index data, which is due later on Friday.
CRUDE OIL
Oil prices eased for a third day on Friday and were on track to fall for the week as investors focused on expectations of increased output from Libya and the broader OPEC+ group, although fresh stimulus from top importer China limited losses.
Gold price treads water while within a striking distance of the new record high of $2,686, as buyers take a breather and consolidate the weekly gains in the countdown to the US Personal Consumption Expenditures Price Index data release later on Friday.
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