GBP/USD rises on Friday during the North American session, up by 0.21% amid a scarce economic docket on both sides of the Atlantic. Soft data announced in the United States (US) slightly boosted the Greenback, though the pair trades at 1.3442 after hitting a daily low of 1.3406.
Gold (XAU/USD) is trading higher on Friday as investors remain focused on Fed expectations US economic data. At the time of writing, XAU/USD recovers above $3,350, pushing the price closer toward the upper boundary of a symmetrical triangle pattern.
US Dollar (USD) is likely to trade in a range of 7.1740/7.1880. In the longer run, USD is expected to trade in a range between 7.1550 and 7.1920, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
The US Dollar is steadying after a brief selloff earlier in Friday’s session. The Greenback remains supported by robust US economic data this week, which has lowered the odds of immediate interest rate cuts by the Federal Reserve (Fed).
The Pound Sterling (GBP) is up a modest 0.2% against US Dollar (USD) as it mildly underperforms its G10 peers heading into Friday’s NA open, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
The current price action appears to be part of a 147.65/148.85 range trading phase. In the longer run, USD strength has paused for now; it is expected to trade in a range of 146.90/149.20, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
The Euro (EUR) is up 0.3% against the US Dollar (USD) and a mid-performer among the G10 as we head into Friday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
Australian Dollar (AUD) is likely to consolidate in a range of 0.6475/0.6535 against US Dollar (USD). In the longer run, downward momentum has built further, but AUD may consolidate first before attempting to break below 0.6455, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
The trade-weighted US Dollar (USD) has been up 1.6% since the beginning of the month. Against the Euro (EUR), it is slightly less, but yesterday it did manage to temporarily reach 1.15 again.
Dow Jones futures trade marginally higher during the European trading session, extend its winning streak for the third trading day on Friday. United States (US) equities are buoyed by strong second-quarter earnings show from the streaming platform company Netflix.
US Dollar (USD) was a touch softer this morning on comments from Fed’s Waller. DXY was last at 98.37 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Recent polls by Nikkei, Kyodo, Asahi shows LDP-Komeito coalition is at risk of losing Upper House election. USD/JPY last seen at 148.58, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Australian Dollar (AUD) managed to claw back earlier losses as USD backpedalled on comments from Fed’s Waller. AUD was last at 0.6518, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Slowing momentum suggests that instead of continuing to weaken, Euro (EUR) is more likely to trade in a sideways range of 1.1585/1.1655 against US Dollars (USD).
The EUR/JPY cross gathers strength to around 172.80 during the early Asian session on Friday. The Japanese Yen (JPY) weakens against the Euro (EUR) amid reduced Bank of Japan (BoJ) rate hike bets.
Silver price advanced on Thursday, 0.55% as the Greenback posted solid gains during the North American session, even though Wall Street finished the session with gains.
EUR/USD tumbles during the North American session, down 0.38% following the release of economic data from the United States (US), which triggered a reaction by investors, who trimmed their bets that the Federal Reserve (Fed) will cut interest rates.
The British Pound (GBP) gains positive traction against the Japanese Yen (JPY) on Thursday as sentiment surrounding the Yen remains fragile following Japan's disappointing Trade Balance data.
The Australian Dollar (AUD) is weakening against the US Dollar (USD) on Thursday after employment data from Australia reflected a slowdown in the labour market. Meanwhile, US Retail Sales data surprised to the upside, reflecting an increase in consumer spending in June.
GBP/USD drops during the North American session on Thursday. The pair edged down 0.07% following the release of strong US economic data, which boosted the US Dollar (USD) and pushed it to a new July high as it recovers some ground at the beginning of the second half of the month.
The US Dollar (USD) is gaining renewed momentum against the Japanese Yen (JPY), with central bank divergence continuing to serve as a key driver for the USD/JPY pair.
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