EUR/USD
EUR/USD breaks its five-day losing streak, trading around 1.0540 during the Asian session on Friday. This rebound is likely due to a downward correction in the US Dollar following comments from Fed Chair Jerome Powell.
GBP/USD
The GBP/USD pair edges lower to near 1.2675, the lowest level since August during the Asian trading hours on Friday. The cautious remarks from the Federal Reserve Chair Jerome Powell on Thursday and stronger US economic data boost the US Dollar broadly and weigh on the major pair.
USD/JPY
The Japanese Yen (JPY) extends its losing streak against the US Dollar (USD) for the fifth consecutive session, following the release of Japan’s Q3 Gross Domestic Product (GDP) data on Friday. The upside potential of the USD/JPY pair is supported by the strength of the US Dollar (USD). Traders are also preparing for the release of the US October Retail Sales data, due later on Friday.
AUD/USD
The Australian Dollar (AUD) holds ground near three-month lows against the US Dollar (USD) on Friday. The recent downward trend in the AUD/USD pair is largely due to key economic data from Australia released on Thursday. Additionally, the AUD remained uninfluenced by mixed economic data from its close trading partner China.
NZD/USD
The NZD/USD halts its three-day losing streak, trading around 0.5850 during the Asian session on Friday. The New Zealand Dollar (NZD) might have received downward pressure as the Business NZ Performance of Manufacturing Index (PMI) fell to 45.8 in October, down from a revised 47.0 in September, reaching its lowest level since July 2024.
USD/CAD
The USD/CAD pair trades flat near 1.4060 amid the consolidation of the US Dollar (USD) during the early Asian session on Friday. The US October Retail Sales will be in the spotlight on Friday along with the Fedspeak.
USD/CHF
USD/CHF pauses its five-day winning streak, trading around 0.8900 during Friday’s Asian session after retreating from a four-month high of 0.8917 reached on Thursday. This pullback is likely due to a downward correction in the US Dollar (USD) following remarks from Federal Reserve (Fed) Chair Jerome Powell.
CRUDE OIL
Oil prices fell on Friday on signs demand in China, the world’s biggest crude importer, continues to underperform amid its uneven economic recovery.
GOLD
Gold price is looking to build on the previous rebound early Friday in search of a fresh impetus amid persistent US Dollar buying and mixed activity data from China.
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