West Texas Intermediate (WTI) US Crude Oil prices oscillate in a narrow band, around mid-$62.00s during the Asian session on Friday, and remain on track to register gains for the first time in three weeks.
The Japanese Yen (JPY) maintains its offered tone against a broadly stronger US Dollar (USD), with the USD/JPY bulls awaiting a sustained move and acceptance above the 144.00 mark before placing fresh bets.
EUR/USD continues to lose ground after pulling back from a two-month high of 1.1495, marked on June 5, currently trading around 1.1440 during the Asian hours on Friday.
The Australian Dollar (AUD) declines against the US Dollar (USD) on Friday. The AUD/USD pair may remain stable amid market caution, as traders await the upcoming US Nonfarm Payrolls (NFP) report, due later in the day, seeking fresh insights into the United States (US) economy.
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1845 as compared to the previous day's fix of 7.1865 and 7.1935 Reuters estimate.
Japan's Finance Minister Katsunobu Kato, when asked about the US Treasury report on exchange rate, said that the monetary policy decision is up to the Bank of Japan.
GBP/USD tested its highest bids in over three years on Thursday, briefly climbing above the 1.3600 handle in intraday trading for the first time in 40 months.
NZD/JPY climbed over 0.75% on Thursday amid a session that witnessed an escalation of the Trump-Musk fight on social media, which ultimately sent Testla (TSLA) stocks plunging over 14% during the day.
The AUD/JPY prolonged its gains on Thursday and edged up over 0.76% amid a risk-on impulse sparked by news that the US and China might reach an agreement as President Trump spoke with China’s President Xi Jinping during the day. At the time of writing the cross-pair trades at 93.30.
West Texas Intermediate (WTI) crude oil extends its recovery on Thursday, building on early week gains as bulls capitalize on a bullish flag breakout. At the time of writing, WTI is trading around $62.80, up nearly 1.20% on the day, and slightly below the intraday high of $63.30.
The Greenback bounced off its weekly lows of 98.35 as China’s media reported a call between US President Donald Trump and China’s President Xi Jinping. Both parties mentioned the call was good and focused on trade policies and rare earths.
EUR/USD holds onto earlier gains of over 0.20% after the European Central Bank (ECB) grabbed the headlines, reducing rates but leaving the door open for a pause at the upcoming July 24 meeting. At the time of writing, the pair trades at 1.1441 after bouncing off daily lows of 1.1404.
Federal Reserve (Fed) Bank of Kansas City President Jeff Schmid took a slightly different approach to other Fed officials who also spoke on Thursday, but still remains focused on the overall difficulty of manipulating Fed policy rates in an uneasy post-tariff environment.
Federal Reserve (Fed) Bank of Philadelphia President Patrick Harker added his own perspective to comments from other Fed officials earlier in the day, noting that whiplash trade policies from the Trump administration are making it difficult for Fed officials to move on policy rates.
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