EUR/USD preserved its recovery momentum and climbed toward 1.0600 in the European morning on Friday. Eurozone HICP inflation data for September and August PCE Price Index from the US will be watched closely on the last trading day of the third quarter.
GBP/USD managed to build on Thursday’s recovery gains and advanced toward 1.2250 on Friday. The data from the UK confirmed that the real GDP expanded 0.2% on a quarterly basis in Q2. Later in the day, the US economic docket will feature August PCE inflation report.
The USD/JPY went sideways on Thursday ahead of Friday’s inflation double-feature. The pair is off the week’s peak near 149.70, and analyst bets of USD/JPY hitting 150.00 are holding steady.
The AUD/USD pair recovers some lost ground and consolidates near 0.6428 during the early Asian session on Friday. The rebound of the pair is supported by a correction of the US Dollar (USD) and lower US Treasury yields. Meanwhile, the US Dollar Index (DXY) edges lower to 106.10 after retreating from 106.83, the highest since November.
The NZD/USD pair gains traction above the mid-0.5900s during the early Asian session on Friday. The rebound of the pair is supported by a correction of the US Dollar (USD) and lower US Treasury yields. Meanwhile, the US Dollar Index (DXY) edges lower to 106.10 after retreating from 106.83, the highest since November. NZD/USD currently trades bear 0.5977, gaining 0.28% for the day.
The USD/CAD pair attracts fresh buying during the Asian session on Friday and for now, seems to have snapped a two-day losing streak. Spot prices struggle to capitalize on the move beyond the 1.3500 psychological mark, though remain well within the striking distance of over a one-week high touched on Wednesday
USD/CHF continues to retrace the gains for the second consecutive day post ending a winning streak that began on September 19. The spot price trades around 0.9130 during the Asian session on Friday. The USD/CHF pair is under pressure after the moderate economic data from the United States (US).
Oil prices slipped on Friday but were headed for a gain of 2% for the week driven by tight U.S. supply and expectations of strong fuel demand in China during the Golden Week holiday.
Following a sharp four-day decline, Gold price started to edge higher toward $1,870 on Friday. The benchmark 10-year US Treasury bond yield stays relatively quiet below 4.6%, limiting XAU/USD’s volatility ahead of key US inflation data.
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