USD/JPY was down at a multi-day low under 149.00 on heighted risk aversion and narrower US-Japan bond yield spreads, but it somewhat recovered above that hurdle, BBH's FX analysts report.
The Reserve Bank of Australia announces rates at 0430 BST tomorrow and we expect a hold, in line with consensus and market pricing (less than 10% implied probability of a cut).
The US is due to announce a new historic round of tariffs on trading partners on Wednesday, which President Trump has now famously dubbed 'liberation day', ING’s FX analysts Francesco Pesole notes.
Gold rose above $3,100/oz for the first time to hit a fresh record high at the start of a new week, ahead of President Donald Trump’s tariff announcement, beating its previous record high hit just last Friday, ING’s commodity analysts Warren Patterson and Ewa Manthey note.
EUR/USD at 1.084 days before the US is expected to announce harsh tariffs on the EU is a testament to the FX market’s hyper forward-looking tendency, ING’s FX analysts Francesco Pesole notes.
The AUD/JPY pair extended its decline on Friday, hovering near the 94.30 zone after the European session and slipping closer to the lower end of its intraday range.
Silver price hits a five-month high but retreats toward the $34 figure late on Friday, as traders brace for the weekend, eyeing a busy economic schedule in the United States (US).
EUR/USD extended its upward trajectory on Friday, moving near the 1.0830 region after the European session and toward the upper end of the day’s trading range.
The Pound Sterling remains firm, hovering around 1.2950 against the US Dollar, virtually unchanged, as traders digest the latest inflation report from the United States (US), amid uncertainty about a potential trade war escalation following Trump's imposition of tariffs on cars.
Brussels seeks deal to ease tensions, offering tariff cuts and regulatory changes as Washington plans new reciprocal measures starting April 2. EURUSD higher on news
EUR/GBP attempted a cross above its 200-DMA earlier this month but has faced strong resistance near 0.8450 and has once again dipped below the MA (0.8380), Société Générale's FX analysts note.
Despite headline risks, USDCAD remains stuck in the “Red Box” with 1.4269 support and 1.4344 resistance in focus; traders await a decisive breakout for direction.
The USDJPY stalled against the key resistance level and rotated to the downside. US PCE data will be released at 8:30 AM. University of Michigan at 10 AM
Gold surged to a fresh record high this morning, surpassing the previous record hit just yesterday, after US President Donald Trump announced 'permanent' 25% tariffs on auto imports, intensifying trade tensions, ING's commodity experts Ewa Manthey and Warren Patterson note.
This morning saw the release of March inflation figures for the Tokyo area, which are traditionally a good leading indicator for inflation in Japan as a whole.
The value of currencies in FX markets is typically driven by interest rate differentials, with FX effectively being seen as an extension of monetary policy.
Data published this week by the Hong Kong Statistics Authority on Gold trade with China confirmed the picture of very weak demand for Gold in China, Commerzbank's commodity analyst Carsten Fritsch notes Gold exports to China and Hong Kong come to a standstill in February "According to the data, 26.4 tons more Gold were delivered from China to Hong Kong in February than vice versa.
Silver (XAG/USD) climbs its highest level since late October 2024 during the first half of the European session on Friday and currently trades around mid-$34.00s, up nearly 0.30% for the day.
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