Trading news

USD/CHF trades slightly higher on Friday, around 0.8060, up 0.15% at the time of writing. The pair remains on track for a weekly gain, supported by the persistent weakness of the US Dollar (USD) amid growing expectations of interest rate cuts by the Federal Reserve (Fed).

Gold (XAU/USD) holds steady on Friday after a bout of volatility sparked by the CME trading outage pushed prices off their intraday peak. At the time of writing, XAU/USD is trading around $4,172, with the metal on track to notch its fourth straight monthly gain.

Mexico Jobless Rate s.a down to 2.6% in October from previous 2.7%

South Africa Trade Balance (in Rands) fell from previous 21.76B to 15.58B in October

Mexico Jobless Rate below expectations (2.8%) in October: Actual (2.6%)

Gold (XAU/USD) keeps crawling higher, and is on track to close the week 2.7% higher, with the US Dollar weighed by rising bets of Fed monetary easing.

US Dollar (USD) is likely to consolidate within a range of 7.0680/7.0880. In the longer run, downward momentum remains strong; if USD breaks below 7.0600, the next level to watch is 7.0400, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Rabobank's latest market comments highlight a significant political setback for the French government, as the National Assembly failed to finalize the 2026 draft budget's first reading.

USD is likely to trade sideways between 156.00 and 156.75. In the longer run, soft underlying tone suggests there is a chance for USD to edge downward; any decline is likely part of a lower range of 155.05/157.05, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The impact of change in political leadership has been clear in Japan with the yen notably weaker and JGB yields higher as market participants position for reflationist policies under the new leadership of Sanae Takaichi.

India FX Reserves, USD: $688.1B (November 17) vs previous $692.58B

India Bank Loan Growth up to 11.4% in November 10 from previous 11.3%

India Infrastructure Output (YoY) down to 0% in October from previous 3%

New Zealand Dollar (NZD) could rise above 0.5735; any further advance is unlikely to reach 0.5755. In the longer run, the price action suggests NZD is likely to advance further; the levels to watch are 0.5735 and 0.5755, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The prospect of a BoJ rate hike in December continues to grow with the OIS implied probability now creeping above the 50% level.

Ireland Retail Sales (YoY) dipped from previous 3.5% to 2.1% in October

Ireland Retail Sales (MoM): -0.5% (October) vs previous 0.2%

Italy Trade Balance non-EU increased to €5.321B in October from previous €2.738B

Portugal Gross Domestic Product (QoQ) meets forecasts (0.8%) in 3Q

Portugal Gross Domestic Product (YoY) in line with forecasts (2.4%) in 3Q