Trading news

The NZD/USD pair attracts some buyers to around 0.5750 during the Asian trading hours on Friday. The New Zealand Dollar (NZD) edges higher against the US Dollar (USD) as easing tensions in Iran boost the riskier currencies.

GBP/USD edges higher after registering modest losses in the previous session, trading around 1.3380 during the Asian hours on Friday.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Friday at 7.0078 compared to the previous day's fix of 7.0064 and 6.9722 Reuters estimate.

AUD/USD moves little after two days of gains, hovering around 0.6700 during the Asian hours on Friday. The pair steadies as the Australian Dollar (AUD) receives support amid cautious sentiment surrounding the Reserve Bank of Australia’s (RBA) policy outlook.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $59.10 during the Asian trading hours on Friday. The WTI price recovers some lost ground, snapping the two-day losing streak, as traders assess the geopolitical situation in the Middle East. 

Gold price (XAU/USD) tumbles to near $4,605 during the early Asian session on Friday. The precious metal edges lower as the US Initial Jobless Claims data boost the ‌US Dollar. The US December Industrial Production report will be published later on Friday.

Japan Foreign Investment in Japan Stocks fell from previous ¥124.9B to ¥1B in January 9

Japan Foreign Investment in Japan Stocks: ¥1141.4B (January 9) vs ¥124.9B

The USD/JPY pair posts modest gains near 158.65 during the early Asian trading hours on Friday. The US Dollar (USD) strengthens against the Japanese Yen (JPY) as US Initial Jobless Claims fall. The US December Industrial Production report is due later on Friday.

The British Pound drops versus the Japanese Yen as the Friday’s Asian session begins, courtesy of Japanese authorities’ verbal intervention, which boosted the Asian currency. The GBP/JPY trades at 212.20 after falling from yearly highs near 214.30.

EUR/USD fell to a new yearly low beneath 1.1600 on Thursday, courtesy of solid economic data in the US and broad US Dollar strength. Traders’ appetite improved due to Trump moderating his rhetoric on Iran, while data in the Eurozone, failed to underpin the shared currency.

New Zealand Business NZ PMI increased to 56.1 in December from previous 51.4

United States Total Net TIC Flows increased to $212B in November from previous $-37.3B

United States Net Long-Term TIC Flows increased to $220.2B in November from previous $17.5B

Gold prices retreat on Thursday amid a de-escalation of US President Donald Trump’s rhetoric over Iran. Also, solid jobs data in the US prompted investors to trim Federal Reserve (Fed) rate cut bets. At the time of writing, XAU/USD trades at $4,609.

Federal Reserve (Fed) Bank of Kansas City President Jeffrey Schmid said that he prefers to keep the monetary policy modestly restrictive as cutting rates could worsen the inflation situation at the Economic Club of Kansas City on Thursday.

The US Dollar Index is trading near the 99.35 price region, trimming half its gains late in the American session on Thursday, supported by encouraging United States (US) data.

West Texas Intermediate (WTI) edges lower on Thursday, giving back this week’s gains as geopolitical risk premiums fade after US President Donald Trump softened his rhetoric on Iran, easing fears of imminent military action.

Silver (XAG/USD) trades around $91.70 per ounce on Thursday at the time of writing, down 1.70% on the day, after having reached a new all-time high close to $94 earlier in the day. The white metal is correcting from recent record levels amid profit-taking and a partial retreat in safe-haven demand.

USD/CAD trades around 1.3900 on Thursday at the time of writing, up 0.10% on the day. The move is mainly driven by renewed strength in the US Dollar (USD), supported by solid US macroeconomic indicators, while the Canadian Dollar (CAD) is weighed down by the pullback in Oil prices.