Trading news

The GBP/JPY pair gives up its early gains and turns negative to near 212.00 during the European trading session on Friday.

The US Dollar (USD) plunged nearly 200 pips against the Japanese Yen (JPY) in the early European session on Friday, likely due to another intervention by Japanese authorities.

EUR/JPY loses ground for the second successive day, trading around 183.00 during early European hours on Friday.

European Central Bank (ECB) Governing Council member Madis Müller said on Friday that it is increasingly likely the ECB will need to raise interest rates.

The Euro (EUR) is trading moderately lower against the US Dollar (USD) on Friday, retreating to 1.1719 at the time of writing, down from highs above 1.1740 on Thursday. The pair, however, maintains most of the previous day’s gains, with market volumes thinned on the May 1 labor holiday.

The NZD/USD pair loses traction to around 0.5890 during the early European session on Thursday. The US Dollar (USD) strengthens against the New Zealand Dollar (NZD) as escalating tensions in the Middle East and a continued blockade of the Strait of Hormuz boost a safe-haven asset. 

Silver price (XAG/USD) trades flat at around $73.70 during the European trading session on Friday.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, regains some positive traction on Friday and reverses a part of the previous day's sharp retracement slide from a three-week high – level just above the 99.00 mark.

Australia RBA Commodity Index SDR (YoY) up to 15.7% in April from previous 12.8%

Switzerland Real Retail Sales (YoY) came in at 0.5%, below expectations (1%) in March

EUR/CAD extends its losses for the third consecutive day, trading around 1.5920 during the Asian hours on Friday. The currency cross loses ground as the Euro (EUR) struggles amid increased risk aversion, which could be attributed to the geopolitical concerns in the Middle East.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $102.40 during the early European trading hours on Friday. The WTI price edges lower amid a stronger US Dollar (USD).

The GBP/USD pair trades firmly near an over two-month high of around 1.3610 during the European trading session on Friday. The Cable outperforms as the Pound Sterling (GBP) reflects strength, following the Bank of England’s (BoE) monetary policy announcement on Thursday.

United Kingdom Nationwide Housing Prices s.a (MoM) came in at 0.4%, above forecasts (-0.3%) in April

United Kingdom Nationwide Housing Prices n.s.a (YoY) came in at 3%, above forecasts (2.2%) in April

The USD/CAD pair trades with caution near Thursday’s low at around 1.3580 during the late Asian trading session on Friday. The Loonie pair trades weakly as the US Dollar (USD) is broadly under pressure, following Japanese intervention in the forex markets.

Asian stocks advance in holiday-thinned trading on Friday, following record closes on Wall Street the previous day. However, traders remain cautious amid ongoing US–Iran tensions. Trading activity stayed muted, with key markets in China, Hong Kong, and Singapore shut for the Labor Day holiday.

The EUR/GBP cross holds steady around 0.8625 during the early European session on Friday.

The USD/JPY pair builds on the previous day's late rebound from the vicinity of mid-155.00s, or over a two-month trough, and gains some positive traction during the Asian session on Friday.

The AUD/USD pair holds onto Thursday’s gains near 0.7200 during the Asian trading session on Friday.