Trading news

Gold (XAU/USD) remains depressed below the $4,000 psychological mark during the Asian session on Friday. However, the fundamental backdrop warrants some caution before positioning for an extension of the previous day's retracement slide from the all-time peak.

EUR/JPY remains subdued for the second successive day, following a retreat after reaching an all-time high of 177.94 in the previous session, trading around 176.90 during the Asian hours on Friday.

Citing a Trump administration official, the New York Times reported on Friday that the US Bureau of Labor Statistics (BLS) is calling back a limited number of staff from furlough to complete the September Consumer Price Index (CPI) report, despite the ongoing government shutdown.

USD/CAD moves little after reaching a six-month high of 1.4033 in the previous session, trading around 1.4020 during the Asian hours on Friday. The pair gained around 0.5% on Thursday as the commodity-linked Canadian Dollar (CAD) faced challenges amid lower crude Oil prices.

Silver price (XAG/USD) climbs to around $49.70 during the Asian trading hours on Friday. The white metal holds positive ground after reaching the highest price in four decades, bolstered by safe haven flows, strong industrial demand, and expectations of the US interest rate cut. 

The Japanese Yen (JPY) recovers slightly after touching a fresh low since February 13 against a broadly firmer US Dollar (USD) during the Asian session on Friday, though the upside potential seems limited.

Japanese Finance Minister Katsunobu Kato said on Friday that he recently sees one-sided and rapid moves in the foreign exchange, adding that it’s important for currencies to move in a stable manner reflecting fundamentals.

The Australian Dollar (AUD) advances against the US Dollar (USD) on Friday, recovering its recent losses registered in the previous session. The AUD/USD pair gains ground following the cautious remarks from the Reserve Bank of Australia (RBA) Governor Michele Bullock.

Federal Reserve (Fed) Bank of San Francisco President Mary Daly said on Friday that inflation has come in much less than she had feared. Daly further stated that the US central bank is projecting additional cuts in risk management.

Japan’s top tariff negotiator Ryosei Akazawa and US Commerce Secretary Howard Lutnick reaffirmed on Friday that the United States (US) and Japan trade agreement will serve to further strengthen the two nations’ strategic and economic ties, Bloomberg reported on Friday. 

The NZD/USD pair recovers some lost ground near 0.5750, snapping the three-day losing streak during the early Asian trading hours on Friday. Ongoing US government shutdown undermines the US Dollar (USD) against the New Zealand Dollar (NZD).

The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1048 compared to the previous day's fix of 7.1102 and 7.1329 Reuters estimate.

US Treasury Secretary Scott Bessent said on Friday that we are going to see rebalancing where India buys less Russian oil soon.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $61.20 during the early Asian trading hours on Friday. The WTI loses traction amid easing geopolitical tensions in the Middle East. Traders will closely monitor how long the US federal government shutdown will last.

Japan Bank Lending (YoY) registered at 3.8% above expectations (3.7%) in September

Japan Producer Price Index (YoY) registered at 2.7% above expectations (2.5%) in September

Japan Producer Price Index (MoM) registered at 0.3% above expectations (0.1%) in September

GBP/USD accelerated into the bearish side on Thursday, falling nearly eight-tenths of one percent and sending Cable bids into the 1.3300 handle for the first time since early August.

The USD/JPY pair extends the rally to around 153.05 during the early Asian session on Friday, bolstered by a firmer US dollar (USD). The Greenback edges higher to its highest since February against the Japanese Yen (JPY) amid the lack of progress around the US government shutdown.

Reserve Bank of Australia (RBA) Governor Bullock said on Friday that services inflation remains a little sticky.