The USD/CAD pair trades higher around 1.3790 in the early European trading session on Friday. The Loonie pair edges up as the US Dollar (USD) regains ground after being jolted by soft United States (US) Consumer Price Index (CPI) data for November.
Bank of Japan (BoJ) Governor Kazuo Ueda is addressing a press conference on Friday, explaining the central bank’s decision to hike the short-term interest rate from 0.5% to 0.75% following its December monetary policy review meeting.
EUR/USD remains weaker for the fourth consecutive session, trading around 1.1720 during the Asian hours on Friday. On the daily chart, technical analysis indicates a prevailing bullish bias, as the pair remains within the ascending channel pattern.
The EUR/GBP cross trades on a flat note around 0.8760 during the early European session on Friday. This move follows the Bank of England's (BoE) interest rate cut and market expectations for a steady European Central Bank (ECB) policy.
The EUR/CAD pair edges higher to near 1.6160 during the early European trading session on Friday. The cross ticks up as the Euro (EUR) outperforms its major peers ahead of speeches from a slew of European Central Bank (ECB) policymakers later in the day.
The Indian Rupee (INR) gains sharply against the US Dollar (USD) during late trading hours in India on Friday. The USD/INR pair plunges over 1% to near 89.50 as the Reserve Bank of India (RBI) has intervened to support the Indian Rupee
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, trades on a positive note near 98.55 during the early European trading hours on Friday. The DXY recovers some lost ground amid the cautious mood in the market.
USD/CHF recovers its recent losses registered in the previous session, trading around 0.7950 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) recovers losses ahead of the release of the University of Michigan Consumer Sentiment Index for December later in the day.
Silver price (XAG/USD) falls to around $64.95 during the Asian trading hours on Friday. The white metal retreats after hitting a record high in the previous sessions as traders book profits.
Yen is weakening despite the move though to have been fully priced. Attention shifts to guidance and internal inflation debates, which will shape expectations for the pace of further BoJ tightening and yen direction.
The EUR/JPY pair extends its upside to near 183.00 on Friday as the Japanese Yen (JPY) weakens, after the Bank of Japan (BoJ) monetary policy announcement. The pair rises further after the BoJ raised its interest rates by 25 basis points (bps) to 0.75%.
The GBP/JPY cross attracts some dip-buyers during the Asian session on Friday and stalls the previous day's late pullback from levels just above the 209.00 mark, or a fresh high since August 2008.
West Texas Intermediate (WTI) Oil price loses ground for the second successive session, trading around $55.80 per barrel during the Asian hours on Friday.
The move underscores how trade policy is shaping automaker strategy, with limited near-term earnings impact but potential implications for tariff negotiations and sector sentiment.
The Japanese Yen (JPY) adds to intraday losses following Bank of Japan (BoJ) Governor Kazuo Ueda's opening remarks at the post-meeting press conference.
The comments may help steady JGB sentiment as rates rise, reinforcing the view that fiscal policy will support market confidence alongside gradual BoJ normalisation and regional stability.
The agreement reinforces EU commitment to Ukraine and highlights the bloc’s growing use of collective borrowing, with limited near-term market impact but longer-term implications for EU debt issuance and regional stability.
The proposal reinforces the EU’s readiness to deploy its balance sheet for geopolitical support, with limited near-term impact on sovereign markets but longer-term implications for EU-level debt issuance and regional stability.
The Australian Dollar (AUD) declines against the US Dollar (USD) on Friday, losing its daily gains. The AUD/USD pair depreciates as the gains ahead of the release of the University of Michigan Consumer Sentiment Index for December later in the day.
On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 7.0550 compared to the previous day's fix of 7.0583.
The NZD/USD pair posts modest gains near 0.5775 during the early Asian session on Friday. The US Dollar (USD) softens against the New Zealand Dollar (NZD) as softer-than-expected US inflation data raises hopes for the US Federal Reserve (Fed) rate cut.
The GBP/USD pair stalls the previous day's pullback from the vicinity of mid-1.3400s and a nearly two-month high, though it struggles to attract meaningful buyers during the Asian session on Friday.
Bank of Japan (BoJ) Governor Kazuo Ueda is speaking at a press conference, explaining the reasons behind raising the key interest rate by 25 basis points (bps) to 0.75% on Friday.
The modest rise in confidence supports a gradual improvement narrative, but persistent consumer caution reinforces expectations of a soft growth outlook and a cautious Bank of England.
Gold price (XAU/USD) declines to below $4,350 during the early European trading hours on Friday. The precious metal edges lower due to some profit-taking and weak long liquidation from shorter-term futures traders.
With inflation matching expectations, market focus remains on BoJ guidance rather than the data itself, though persistent price pressures continue to underpin the case for gradual tightening.
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