United Overseas Bank’s Quek Ser Leang and Lee Sue Ann highlight that EUR/USD has rebounded from deeply oversold levels after dropping to 1.1324, with price action now viewed as consolidation in a slightly higher 1.1345–1.1395 band.
EUR/USD extends its gains for the second successive day, trading around 1.1380 during the Asian hours on Friday.
The US Dollar (USD) struggles to extend its advance against the Japanese Yen (JPY) above 162.00 for almost a week. The USD/JPY pair is failing to gain further as the US Dollar corrects due to easing market expectations for at least two interest rate hikes by the Federal Reserve (Fed) this year.
The USD/CAD pair declines to around 1.4190 during the early European trading hours on Friday. The US Dollar (USD) softens against the Canadian Dollar (CAD) as the US Personal Consumption Expenditures (PCE) Price Index inflation data eases US rate hike expectations.
Sweden Producer Price Index (MoM) increased to 1.3% in May from previous 1.1%
NZD/USD continues its losing streak that began on June 17, trading around 0.5650 during the Asian hours on Friday. Technical analysis of the daily chart suggests the spot price is moving downwards within the descending channel, reflecting a persistent bearish bias.
Singapore Industrial Production (YoY) below forecasts (17%) in May: Actual (13%)
The AUD/USD pair attracts fresh sellers following the previous day's modest gains and drops to a fresh low since early April during the Asian session on Friday.
West Texas Intermediate (WTI) depreciates after registering over 2% gains in the previous day, trading around $70.30 per barrel during the Asian hours on Friday.
The GBP/USD pair trades with mild gains near 1.3200 during the early European session on Friday.
Gold prices fell in India on Friday, according to data compiled by FXStreet.
Silver price (XAG/USD) is down 2.5% to near $56.50 during the Asian trading session on Friday.
