Trading news

There is scope for Australian Dollar (AUD) to rise further, but any advance is likely part of a higher range of 0.6810/0.6860. In the longer run, AUD could continue to advance, but the scope for further gains is likely limited.

Despite the Bank of Japan (BoJ) revising up growth and inflation forecasts, political and fiscal risks are dominating yen dynamics and muting the usual USD/JPY response, ING's FX analyst Chris Turner notes.

The risk for Pound Sterling (GBP) remains on the upside; it is unclear whether momentum is strong enough to break above 1.3570, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/JPY has met interim resistance near 159.45 at the top of an ascending channel, with a short-term pullback potentially finding support around the 50-day moving average at 156.00-156.60, Société Générale's FX analysts note.

Silver prices (XAG/USD) rose on Friday, according to FXStreet data. Silver trades at $97.83 per troy ounce, up 1.77% from the $96.13 it cost on Thursday.

Growing consensus that Europe must chart its own strategic path is expected to underpin the Euro (EUR). EUR/USD may see further upside pressure, though resistance around 1.1770-1.1780 remains key, ING's FX analyst Chris Turner notes.

United Kingdom S&P Global Services PMI came in at 54.3, above expectations (51.7) in January

United Kingdom S&P Global Composite PMI above expectations (51.7) in January: Actual (53.9)

United Kingdom S&P Global Manufacturing PMI up to 51.6 in January from previous 50.6

Euro (EUR) is expected to continue to rise; the major resistance at 1.1805 is likely out of reach for now. In the longer run, increase in momentum suggest the likelihood of EUR reaching 1.1805 is rising, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The Pound has retraced to the mid-range of the 123.00s, trading at 213.47 against the JPY at the time of writing, after whipsawing more than 200 pips as the Bank of Japan (BoJ) Governor Kazuho Ueda concluded his press conference, which has rumours of a Yen intervention.

Eurozone HCOB Composite PMI below forecasts (51.6) in January: Actual (51.5)

Eurozone HCOB Services PMI below expectations (52.8) in January: Actual (51.9)

Eurozone HCOB Manufacturing PMI above expectations (49) in January: Actual (49.4)

The Pound Sterling (GBP) attracts bids against its major currency peers as the United Kingdom (UK) Retail Sales figures have grown in December, after contracting in the last two months.

The AUD/JPY cross retreats nearly 130 pips from the highest level since July 2024, around the 109.00 mark touched earlier this Friday, though the pullback lacks follow-through.

EUR/USD posts moderate losses, trading near 1.1730 at the time of writing on Friday, but holding most of the previous day's gains and on track for its strongest weekly performance since June.

Germany HCOB Manufacturing PMI above expectations (48) in January: Actual (48.7)

Germany HCOB Composite PMI registered at 52.5 above expectations (51.8) in January

Germany HCOB Services PMI came in at 53.3, above expectations (53) in January