The EUR/USD pair advanced modestly on Friday, trading near the 1.1300 zone after the European session. Price action remained contained within the day’s range, reflecting steady demand despite mixed short-term momentum signals.
The EUR/JPY pair is trading lower on Friday, weighed down by renewed US–China trade tensions, mixed economic data out of Japan, and cautious investor positioning ahead of a scheduled speech by European Central Bank (ECB) Executive Board member Isabel Schnabel.
The Euro (EUR) is entering Friday’s NA session with a modest 0.2% gain, still trading below 1.13 but seeing a solid recovery from a short lived decline to 1.12, Scotiabank's Chief FX Strategist Shaun Osborne notes.
G10 FX performance is varied heading into Friday’s NA session as most currencies claw back a portion of this week’s post-Fed losses against the US Dollar (USD).
US Dollar (USD) short covering gathered pace vs. safe haven proxies. USDJPY was last at 145.30 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Gold faces consolidation after stalling near $3500, with a lower high at $3435 and weakening momentum suggesting a temporary pause in the uptrend, Société Générale's FX analysts note.
New Zealand Dollar (NZD) could weaken further against US Dollar (USD), but it might not be able to break clearly below 0.5870. In the longer run, bias for NZD is tilted to the downside toward 0.5870, potentially reaching 0.5835, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
US Dollar (USD) short squeeze gained traction and broadened against more currencies from safe haven to procyclical FX. MYR, Gold, JPY and THB led losses.
Australian Dollar (AUD) could drop below 0.6370 against the US Dollar (USD) but might not be able to maintain a foothold below this level. In the longer run, AUD must break and hold below 0.6370 before a move to 0.6330 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Pound Sterling (GBP) is likely to decline further, potentially testing the support at 1.3190. In the longer run, scope for GBP to weaken to 1.3150; currently it is unclear whether GBP can break clearly below this level, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The Pound Sterling (GBP) strengthened yesterday as the Bank of England sent some hawkish signals while cutting rates by 25bp. The announcement of the UK-US trade deal later in the day added some support to the pound, but that was short-lived, ING's FX analyst Francesco Pesole notes
Further Euro (EUR) weakness is not ruled out vs US Dollar (USD); oversold conditions suggest any decline could be limited to a test of 1.1185. In the longer run, c in EUR toward 1.1145, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Yesterday afternoon, Donald Trump finally presented his first trade deal with the United Kingdom in the Oval Office. However, despite all the fanfare, it must be said that the substance was rather thin once again.
Siver price held firm on Thursday as risk appetite improved on news of a US-UK trade deal, along with hopes that Sino-US tensions could be lowered, as delegations of both countries would meet in Switzerland this weekend. At the time of writing, XAG/USD trades at $32.44, down 0.15%.
The AUD/NZD pair climbed higher on Thursday, trading near the 1.0800 area after the European session, reflecting a steady bullish tone as the market approaches the Asian session.
The USD/JPY pair surged higher as the US Dollar (USD) strengthened following the Federal Reserve’s decision to leave interest rates unchanged, coupled with renewed optimism over US-UK trade ties.
The EUR/JPY pair pushed higher on Thursday, trading near the 164.00 zone after the European session, reflecting a strong bullish tone as the pair approaches the Asian session.
Gold price tumbled for the second consecutive day as traders erased Bullion’s advance on Tuesday, which pushed its gains past the $3,400 figure. The announcement of a US-UK trade deal boosted the US Dollar (USD) to the detriment of XAU/USD, which trades at $ 3,311, down over 1.60%.
The EUR/GBP pair drifted lower on Thursday, trading near the 0.8500 zone after the European session and settling within the middle of the day’s range. The decline reflects growing bearish sentiment in the short term, with technical signals tilting to the downside.
The USD/CHF pair is trading higher as the US Dollar (USD) gains momentum on mixed economic signals and trade optimism, while the Swiss Franc (CHF) weakens amid broader risk-on sentiment.
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