EUR/USD dives 0.17% during the North American session on Friday as the Greenback trims its earlier losses as US President Donald Trump tempered his trade rhetoric on China. The pair trades at around 1.1666 after hitting a daily high of 1.1728.
The Canadian Dollar (CAD) caught a fresh bid on Friday, reclaiming some lost ground against the US Dollar (USD), although the Loonie still remains trapped near six-month lows against the Greenback.
The Australian Dollar (AUD) remains well bid against the US Dollar (USD) on Friday, as US President Donald Trump’s softer stance on trade with China eases risk sentiment. The Aussie is showing resilience even as the Greenback strengthens, supported by Australia’s close trade ties with China.
The Japanese Yen (JPY) weakens against the US Dollar (USD) on Friday, with USD/JPY rebounding after slipping to two-week lows earlier in the Asian session.
EUR/GBP trades steadily around 0.8700 on Friday at the time of writing, supported by improved political sentiment in France after Prime Minister Sébastien Lecornu survived two no-confidence motions in parliament.
The GBP/USD retreats on Friday after hitting its highest level in a week of 1.3471 after US President Donald Trump revealed that elevated tariffs on China are not sustainable. Consequently, the Greenback printed gains as reflected by the pair, trading above the 1.34 handle down 0.12%.
EUR/JPY slides 0.25% on Friday, trading around 175.40 at the time of writing, after hitting a two-week low of 174.82 earlier in the day. The Japanese Yen (JPY) is appreciating across the board, supported by remarks from Bank of Japan (BoJ) officials suggesting further policy tightening.
The Euro (EUR) weakens against the US Dollar (USD) on Friday, snapping a three-day winning streak as the Greenback finds renewed strength after US President Donald Trump softened his rhetoric on US-China trade tensions.
USD/CHF extends its losing streak for the fourth consecutive day, hitting a new one-month low at 0.7873 on Friday, before cutting losses following US President Donald Trump's comments on the trade dispute with China.
Stronger industrial sector activity reflected in UK data earlier this week helped lift the Pound Sterling (GBP) after spot found firm support in the mid-1.32 area, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Euro (EUR) gains extended to the low 1.17 area overnight before easing back modestly but the broader backdrop of trade, rate and sentiment challenges for the USD as well as hopes that US pressure for an end to the Ukraine war as Trump/Putin plan to meet in Budapest are all combining to lift the EUR
The Canadian Dollar (CAD) is little changed on the session at writing but spot did pop briefly higher in overnight trade before edging back to the lower end of the trading range seen over the past few sessions, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The USD/JPY pair recovers its early losses and rebounds to near 150.20 during the late European trading session on Friday. The pair bounces back as the US Dollar (USD) licks its wounds despite uncertainty over trade relations between the United States (US) and China remaining intact.
The New Zealand Dollar recovery attempt from six-month lows at 0.5685 has remained limited at the lower range of the 0.5700s, which leaves the pair practically unchanged on the week, and the broader bearish trend intact.The Kiwi has been unable to take advantage of the US Dollar weakness, weighed do
European Central Bank (ECB) policymaker and Chairman of the Board Bank of Lithuania Gediminas Šimkus said in Friday’s European session that risks to both inflation and growth have tilted to the downside.
Risk for US Dollar (USD) remains on the downside; oversold conditions suggest any decline may not reach 149.50. In the longer run, the odds of USD breaking clearly below 149.50 are increasing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New Zealand Dollar (NZD) is likely to consolidate in a range of 0.5705/0.5750. In the longer run, the outlook for NZD is neutral now, and it is likely to trade in a range between 0.5685 and 0.5770, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
While Australian Dollar (AUD) is expected to edge lower, it does not appear to have enough momentum to reach the 0.6443 low seen earlier this week.
USD/CAD weakens on Friday, hovering around 1.4040 at the time of writing, extending its sideways consolidation since October 15. The US Dollar (USD) remains under pressure, hit by the ongoing US government shutdown and persistent trade frictions between the United States (US) and China.
There is a chance for Pound Sterling (GBP) to test 1.3475; a continued rise above this level is unlikely. In the longer run, if GBP breaks clearly above 1.3475, it could rise further to 1.3505, potentially testing 1.3530, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
There is room for Euro (EUR) to rise further; it remains to be seen whether it can break clearly above 1.1720. In the longer run, upward momentum is building, but EUR must close above 1.1720 before a move toward 1.1760 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The Japanese Yen (JPY) has recovered somewhat in recent days and is currently trading around 150 to the US dollar again. However, I must say that the reason for this is not quite what I had expected.
USD/JPY extended its decline, tracking UST yields lower. Pair was last at 149.71 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
GBP/JPY drops toward 201.00 on Friday, losing 0.50% at the time of writing, as the Japanese Yen (JPY) extends its recovery, supported by growing expectations of a future rate hike by the Bank of Japan (BoJ) and by a global environment favoring safe-haven assets.
EUR/USD has rebounded from last week’s low and broken a short-term downtrend, but repeated failures around the 50-DMA underline lingering indecision. A sustained break above 1.1780/1.1820 is needed to confirm upside traction, Société Générale's FX analysts note.
The Pound Sterling (GBP) extends its winning streak against the US Dollar (USD) for the third trading day on Friday.