The USD/CAD pair trades on a flat note around 1.3850 during the early European trading hours on Friday. Traders prefer to wait on the sidelines ahead of Federal Reserve (Fed) Chair Kevin Warsh's speech at the Jackson Hole symposium later on Friday for clues on his policy outlook.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining minor support after registering minor losses in the previous day and trading around 99.20 during the Asian hours on Friday.
Gold prices fell in India on Friday, according to data compiled by FXStreet.
Silver price (XAG/USD) depreciates after registering modest gains in the previous day, trading around $68.80 per troy ounce during the Asian hours on Friday.
EUR/USD edges higher after registering minor gains in the previous day, trading around 1.1650 during the Asian hours on Friday. The pair gains ground, bolstered by the European Central Bank’s (ECB) hawkish monetary policy outlook.
The NZD/USD pair gathers strength to near 0.5960 during the Asian trading hours on Friday, bolstered by a hawkish tone from the Reserve Bank of New Zealand (RBNZ). Markets might turn cautious later in the day ahead of Federal Reserve (Fed) Chair Kevin Warsh's speech at the Jackson Hole Symposium.
AUD/USD continues its winning streak for the fourth successive day, trading around 0.7200 during the Asian hours on Friday. The currency pair is appreciating as the Australian Dollar (AUD) receives strong support from rising Reserve Bank of Australia (RBA) rate hike bets.
Gold price (XAU/USD) attracts some sellers below $4,600 during the early European trading hours on Friday. The precious metal retreats from a three-month high as in-line US inflation data has reinforced the possibility of further Federal Reserve (Fed) rate hikes.
GBP/USD inches higher after two days of losses, trading around 1.3600 during the Asian hours on Friday. However, the British Pound (GBP) may encounter headwinds as recent declines in Brent crude oil prices ease immediate inflation concerns.
West Texas Intermediate (WTI) oil price declines after two days of gains, trading around $82.70 per barrel during the Asian hours on Friday. Crude oil prices may regain their footing as intensifying conflicts in Eastern Europe pull market attention away from the Middle East.
The USD/JPY pair declines to around 159.30 during the early Asian session on Friday. The Japanese Yen (JPY) strengthens against the US Dollar (USD) as Japan’s Tokyo Consumer Price Index (CPI) inflation data strengthens the case for a September Bank of Japan (BoJ) rate hike.
Iran’s Security Chief Mohsen Rezaei said on Friday that Tehran is preparing a list of its conditions to open the Strait of Hormuz in response to a request by mediators, adding that conditions include ending the war in the region, Reuters reported, citing an interview on Lebanese Hezbollah-affiliated
The headline Tokyo Consumer Price Index (CPI) for August rose 1.9% YoY as compared to 1.8% in the previous month, the Statistics Bureau of Japan showed on Friday.
The EUR/USD pair posts modest gains near 1.1655 during the early Asian session on Friday. Markets might turn cautious later in the day as Federal Reserve (Fed) Chairman Kevin Warsh is set to deliver his much-awaited keynote address in Jackson Hole.
AUD/JPY traded close to 114.75 on Thursday, ahead 0.36% on the session, with a high that stops nineteen pips beneath a ceiling the pair has not traded above since September 7, 1990.
The Aussie Dollar climbed to a three-month high of 0.7198 on Thursday, even though the US Dollar steadied on solid jobs data and hawkish comments by Federal Reserve officials. The AUD/USD trades at 0.7194, up 0.34%.
USD/JPY holds just beneath 159.50 on Thursday, ahead 0.05% across a range of forty-two pips, a fifth consecutive session of grinding higher without getting anywhere.
Geoff Yu at BNY reports that China is opposing potential new U.S. Section 301 tariffs while keeping communication channels open. Beijing has threatened “necessary measures” in response to additional duties but continues high-level engagement ahead of a possible Trump–Xi summit.
GBP/USD holds near 1.3600 on Thursday, effectively unchanged at minus 0.05% across a range of barely thirty pips, a third session of drift beneath the high just short of 1.3700 posted earlier this week.
The Mexican Peso (MXN) loses ground modestly against the US Dollar (USD) on Thursday after economic data in the United States showed that the jobs market is solid, while inflation remains above the Federal Reserve’s (Fed) 2% goal.
NZD/USD holds just beneath 0.5950 on Thursday, unchanged on the session across a range of twenty-two pips and some forty-five pips under the window high just short of 0.6000 set in early June.
BNY’s Geoff Yu highlights that the Bank of Korea’s 25bp hike to 3.00% and upgraded growth and inflation forecasts underline ongoing tightening risks. Robust exports and investment are supporting the economy, though stronger demand could fuel inflation and household debt.
OCBC Bank strategists Sim Moh Siong and Christopher Wong note that USD/SGD traded slightly firmer as resilient US data halted US Dollar downside pressure, though the pair remains subdued and rangebound ahead of Chair Warsh’s Jackson Hole speech.
Brown Brothers Harriman’s (BBH) Elias Haddad sees the Philippine Peso underperforming its Asian peers after the Bangko Sentral ng Pilipinas (BSP) delivered a third consecutive 25 bps rate hike to 5.00%.
DBS Group Research economist Radhika Rao notes that Indonesia’s parliament has held fit-and-proper hearings for BI Governor nominee Destry Damayanti, who signalled continuity, robust policy tools and stronger coordination with fiscal authorities.
Commerzbank FX Analyst Charlie Lay reports USD/THB has eased from around 33.90 in late July to about 32.70, helped by a softer Dollar.
Brown Brothers Harriman’s (BBH) Elias Haddad highlights USD/KRW near a one‑year low after the Bank of Korea (BoK) delivered a back‑to‑back 25bps hike to 3.00%.
OCBC Bank strategists Sim Moh Siong and Christopher Wong highlight that USD/CNH has edged higher alongside a broader US Dollar (USD) rebound and firmer US Treasury yields, while the People's Bank of China (PBoC) continues to prefer a gradual appreciation path.
Boston Federal Reserve (Fed) President Susan Collins crossed the wires on Thursday as the Jackson Hole Symposium began. She said that the recent PCE inflation report does not change the view that policy is restrictive and will lead to gradual disinflation.
Gold (XAU/USD) extended its gains on Thursday, up 0.17% as US jobs data was solid, while the US trade deficit widened. In the meantime, investors eye Fed Chair Warsh's speech, keeping the precious metal near familiar levels. The XAU/USD trades at $4,601 at the time of writing.
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