AUD/USD trades lower around 0.7040 on Friday at the time of writing, down 0.68% on the day, as the pair is pressured by a return of safe-haven demand despite supportive domestic factors in Australia.
AUD/USD trades lower around 0.7040 on Friday at the time of writing, down 0.68% on the day, as the pair is pressured by a return of safe-haven demand despite supportive domestic factors in Australia.
OCBC’s Sim Moh Siong highlights that crude briefly surged toward USD120/bbl on Iranian attacks before easing as US officials signalled supply support and Israel suggested faster de-escalation.
USD/JPY trades around 158.70 on Friday at the time of writing, up 0.61% on the day, staging a clear rebound after Thursday’s sharp decline. The move comes as the US Dollar (USD) regains traction following a bout of volatility, with markets reassessing the outlook for US monetary policy.
OCBC’s Christopher Wong reports that Gold has come under pressure as rising global yields and renewed inflation risks reduce expectations for near-term rate cuts, prompting ETF outflows and stress-driven liquidation.
Gold (XAU/USD) struggles to gain traction on Friday following a sharp two-day decline that pushed prices to their lowest level since early February, near the $4,500 mark.
GBP/USD retreats on Friday, trading around 1.3380 at the time of writing, down 0.39% on the day, after Thursday’s strong rally following the Bank of England (BoE) decision.
Brown Brothers Harriman’s Elias Haddad notes that recent political comments briefly steadied risk sentiment, but renewed risk aversion has lifted the Dollar, Oil and bond yields while pressuring equities. With no key data due, focus is on Fed speakers.
The Indian Rupee (INR) extends its downfall against the US Dollar (USD) on Friday after a holiday the previous day.
Silver price (XAG/USD) trades in a tight range around $72.80 during the European trading session on Friday. The white metal holds onto Thursday’s recovery move, which was driven by weakness in the US Dollar (USD).
According to MUFG’s Derek Halpenny, the ECB’s communication and achievement of its price stability goal leave it in a relatively better position than the BoE, but he is sceptical that higher front-end Euro yields will sustain Euro strength.