EUR/USD
The Euro has plunged against the US dollar after the Federal Reserve accompanied its rate hold with a hawkish stance on its projections. The new Fed Chair Kevin Warsh who debuted his first conference surprised the markets when he mentioned that rates will remain unchanged at 3.75% with a rate cut off the table after citing upside inflation risks. In addition to that, the Fed projected it’s rates for 2026 to 3.8%, sparking the possibility of a hike in the future. Reacting to the news, the EURUSD fell to fresh lows exiting the 1.1500 price handle as it looks towards the low of March 2026.
GBP/USD
GBP/USD remains subdued for the third successive day, trading around 1.3190 during the early European hours on Friday. The British Pound (GBP) pares its daily losses against the US Dollar (USD) but remains in negative territory following the release of key economic data from the United Kingdom (UK).
USD/JPY
The USD/JPY pair is seen extending the previous day’s late pullback from the 161.80 region, or a fresh high since July 2024, and drifting lower during the Asian session on Friday. Spot prices slide to the 161.00 mark in the last hour and, for now, seem to have snapped a five-day winning streak, though the near-term bias seems tilted in favor of bullish traders.
AUD/USD
The AUD/USD pair loses momentum to near 0.7010 during the Asian trading hours on Friday. The Australian Dollar (AUD) softens against the US Dollar (USD) after reports that US Vice President JD Vance canceled his trip to talks with Iran in Switzerland, raising concerns about the US-Iran peace deal.
NZD/USD
The NZD/USD pair turns lower for the third straight day following a modest Asian session uptick to the 0.5775 region and touches a fresh low since April 8 in the last hour. Spot prices currently trade just below mid-0.5700s and seem poised to register heavy weekly losses amid a bullish US Dollar (USD).
USD/CAD
USD/CAD rises for the third consecutive day, trading around 1.4140 during the Asian hours on Friday. The pair appreciates as the commodity-linked Canadian Dollar (CAD) struggles amid lower oil prices. Canada is a major net exporter of crude oil, primarily sending its supply to the United States (US). Lower oil prices weigh on Canada’s export revenues, which fundamentally pressure the CAD down.
USD/CHF
The USD/CHF pair advances to around 0.8075, the highest since December 10, 2025, during the early European session on Friday. The US Dollar (USD) strengthens against the Swiss Franc (CHF) as the Federal Reserve (Fed) officials left interest rates unchanged at its June policy meeting and signaled the possibility of higher rates later this year.
CRUDE OIL
Oil turned higher on Friday after recouping early losses, but headed for a steep weekly drop, as investors watched fresh developments on the U.S.-Iran peace agreement, which has eased concerns about disruptions to global crude supplies.
Gold (XAU/USD) continues losing ground through the Asian session on Friday and touches a fresh weekly trough, around the $4,122-$4,121 region in the last hour. The US Dollar (USD) retains its bullish bias near the highest level since May 2025 in the face of the US Federal Reserve’s (Fed) hawkish tilt, which, in turn, is seen undermining the non-yielding bullion for the third straight day. Furthermore, the uncertainty surrounding the next round of US-Iran negotiations turns out to be another factor that benefits the USD’s reserve currency status and exerts additional pressure on the commodity.
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