EUR/USD clings to mild losses near 1.1020 during early Friday in Europe as it tries to keep bears on the table after welcoming them the previous day. With this, the Euro pair aptly portrays the market’s anxiety ahead of the top-tier growth numbers from the bloc.
The GBP/USD pair is consolidating near the 1.2500 mark in the Asian session. The Cable is gathering strength for a sustained breakout above 1.2500 after a few failed attempts.
USD/JPY rallies 100 pips to 134.45 on the Bank of Japan’s (BoJ) inaction during early Friday. Although the Japanese central bank matches most market expectations by keeping the monetary policy unchanged, an edit in the forward guidance seemed to have fuelled the Yen pair.
The AUD/USD pair has displayed a steep fall after failing to extend recovery above 0.6640 in the Asian session. The Aussie asset has sensed selling pressure as investors have sifted funds into the US Dollar Index (DXY) amid anxiety ahead of the monetary policy decision by the Federal Reserve (Fed).
NZD/USD has been trying to make its way higher on Thursday and went up by some 0.5% into the close in the New York FX session. The pair traveled from a low of 0.6114 to a high of 0.6161 on the day in what was choppy trading.
The USD/CAD pair has made efforts for a rebound after building a base around 1.3590 in the Asian session. The Loonie asset has shown a recovery move, however, the US Dollar Index (DXY) is still in corrective action and has not shown any sign of recovery yet.
The USD/CHF pair has rebounded after a corrective move to near 0.8930 in the early Asian session. The Swiss Franc asset has sensed buying interest amid an absence of a clear path for an increase in the US debt-ceiling limit. House Speaker McCarthy said the debt limit can’t pass without dealing with the budget, as reported by Bloomberg.
Oil prices moved little on Friday after logging steep losses this week, and were set to close a fourth consecutive month in negative territory level as fears of slowing economic growth and demand largely offset tightening supply.
Gold price has climbed above $1,990.00 after rebounding from $1,976.00 in the Asian session. The precious metal witnessed a steep fall on Thursday after House Speaker McCarthy said the debt limit can’t pass without dealing with the budget, as reported by Bloomberg.
Any information provided therein are indicative and subjective to the technical analysis method or trading patterns used and the timing of their release. Those are provided as general market information and/or market commentary and/or the publication of market/factual data and should not be construed as containing personal and/or other investment recommendation, and/or to be Investment Advice or independent Investment Research. As such, the legal and regulatory requirements in relation to independent investment research do not apply to this material and it is not subject to any prohibition on dealing ahead of its dissemination. For the full Risk Disclaimer click here.