West Texas Intermediate (WTI) trades around $68.65 at the time of writing on Friday, up 0.30% on the day, recovering part of its recent losses as the US Dollar (USD) weakens following softer-than-expected US employment data.
EUR/USD holds onto modest gains on Friday but struggles to extend its advance as the US Dollar (USD) stabilizes following Thursday's weaker-than-expected US jobs report. Market activity remains subdued as US financial markets are closed for the Independence Day holiday.
Societe Generale economist Kunal Kundu explains that the Reserve Bank of India’s revised Standardised Approach for credit-risk capital will tie regulatory risk weights to both borrower ratings and each agency’s historical default performance from April 2027.
The British Pound (GBP) steadies against the US Dollar (USD) on Friday, but it is poised to end the week with gains of over 1% as investors turn skeptical that the Federal Reserve (Fed) will raise interest rates at its September meeting.
The AUD/USD pair climbs near the 0.6940 level on Friday as the US Dollar (USD) remains under pressure following softer-than-expected United States (US) labor market data released on Thursday.
Royal Bank of Canada (RBC) economists Claire Fan and Nathan Janzen assess the implications of the U.S. decision not to extend CUSMA (Canada-United States-Mexico Agreement) on July 1st.
NZD/USD trades around 0.5710 at the time of writing on Friday, up 0.21% on the day, supported by improved risk sentiment and a weaker US Dollar (USD) following a softer-than-expected US employment report.
Commerzbank’s Commodity Research team, led by Norman Liebke and colleagues, notes that Oil prices have fallen as optimism grows over US–Iran talks and a potential reopening of the Strait of Hormuz.
ABN AMRO’s Georgette Boele warns that USD/JPY trading near multi-decade highs has heightened the risk of intervention in the Japanese Yen (JPY). She notes markets are long Dollars and extremely short Yen, leaving room for a sharp reversal if sentiment shifts.
USD/JPY rebounds on Friday after falling nearly 0.90% the previous day, amid speculation that Japanese authorities may have intervened in the foreign exchange market after the Japanese Yen slid to a 40-year low earlier this week.
Wells Fargo Economics expects Japan’s May labor cash earnings to confirm a sustained wage-price cycle, supporting Bank of Japan (BoJ) policy normalization.
TD Securities strategists highlight that the June United Kingdom (UK) Decision Maker Panel (DMP) survey shows one‑year inflation expectations easing while three‑year expectations stay near 3%.
Societe Generale economists Sam Cartwright, Michel Martinez and Jorge Garayo note that Euro area inflation has not yet shown indirect effects from the energy shock in food or goods prices.
ING’s Francesco Pesole notes USD/JPY volatility and suggests an initial move lower may already have involved FX intervention. With US holidays thinning liquidity, he sees elevated risk of further Japanese action, consistent with past behaviour.
Gold (XAU/USD) extends gains on Friday as weaker-than-expected US Nonfarm Payrolls (NFP) data released on Thursday batters the US Dollar (USD) and cools expectations of an imminent Federal Reserve (Fed) interest rate hike.
Commerzbank’s Carsten Fritsch notes that the Gold price has rebounded toward USD 4,200 per ounce after steep second-quarter losses, helped by weaker US labour data and reduced rate hike expectations.
USD/CAD trades higher on Friday, rising 0.13% to near 1.4200 at the time of writing. The pair remains supported as persistent weakness in the Canadian Dollar (CAD) outweighs the pressure on the US Dollar (USD) following softer-than-expected US labor market data.
EUR/GBP trades in a narrow range on Friday, with the Euro (EUR) modestly outperforming the British Pound (GBP) as sellers take a breather following a four-day decline that dragged the cross to a one-year low.
Rabobank strategists Bas van Geffen and Lyn Graham-Taylor note that the European Central Bank (ECB) is reportedly considering raising the minimum reserve requirement from 1% to 2%, primarily as a cost-reduction measure.
MUFG’s Derek Halpenny notes that EUR/USD could benefit from US Dollar weakness and a still-hawkish European Central Bank. Derek Halpenny highlights that LNG prices remain elevated versus pre-conflict levels, keeping Eurozone inflation risks higher.
Societe Generale strategists note that South Africa’s National Treasury will tap existing rand-denominated sukuk bonds as part of its current fiscal year funding plans, with issuance size and timing still unknown.
ING analysts Warren Patterson and Ewa Manthey say LME Aluminium fell towards $3,000/t as markets unwound the geopolitical risk premium from earlier Middle East tensions.
The Euro (EUR) trades higher for the second consecutive day on Friday, with the US Dollar (USD) on its back foot in the aftermath of the disappointing US Nonfarm Payrolls (NFP) report released on Thursday. The EUR/USD pair, however, is struggling to breach resistance at 1.1475 so far.
TD Securities strategists expect the ISM Services index to retreat in June after May’s gain, pointing to broad-based slowing in US activity and new orders while employment remains in contraction.
The US Dollar underperforms its major currency peers as traders reconsider hawkish Federal Reserve (Fed) interest rate expectations, following the release of the weak United States (US) Nonfarm Payrolls (NFP) data for June on Thursday.
Silver (XAG/USD) advances to $62.35 on Friday at the time of writing, up 2.32% on the day, as investors increase exposure to precious metals following the release of a weaker-than-expected US employment report.
UOB’s Quek Ser Leang highlights that USD/JPY’s unexpected plunge to 160.62 has shifted the short-term bias lower, even as oversold conditions suggest scope for a rebound within 160.80–161.90 intraday.
Wells Fargo Economics sees Canada’s labor market as soft but stabilizing after a strong May rebound, with employment growth under 1% year over year and gains concentrated in full-time jobs.
Societe Generale analysts note that Gold has held the $3,930/3,885 support zone linked to the November 2025 low and rebounded sharply.
The Indian Rupee (INR) trades slightly higher against the US Dollar (USD) in India's afternoon trading hours on Friday.
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