Trading news

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is paring its recent gains registered in the previous session and trading around 97.70 during the Asian hours on Friday.

China’s Politburo held its latest meeting on Friday, with the key takeaways noted below.

The EUR/USD pair trades marginally higher to near 1.1810 in the late Asian trading session on Friday, ahead of the release of preliminary inflation data for February from Germany and its major states during the day.

The AUD/JPY cross attracts some sellers to around 110.80 during the early European session on Friday. The Japanese Yen (JPY) gathers strength against the Aussie on hawkish comments from Bank of Japan (BoJ) officials. 

The Indian Rupee (INR) opens on a flat note against the US Dollar (USD) on Friday, but remains close to its over three-week low. The USD/INR pair holds onto gains near 91.20 as the Indian stock market struggles to attract foreign investment.

Japan Housing Starts (YoY) above forecasts (-1.6%) in January: Actual (-0.4%)

Japan Annualized Housing Starts down to 0.755M in January from previous 0.771M

Japan Construction Orders (YoY) down to 5.7% in January from previous 20.2%

The GBP/USD pair struggles to build on the overnight modest bounce from the 1.3445 area, or the weekly low, and oscillates in a narrow band during the Asian session on Friday.

USD/CHF edges lower after registering little gains in the previous session, trading around 0.7730 during the Asian hours on Friday. The pair declines as the Swiss Franc (CHF) gains on safe-haven demand amid renewed trade and geopolitical tensions.

Gold prices fell in India on Friday, according to data compiled by FXStreet.

The USD/CNH pair recovers some lost ground to near 0.8505 during the early European session on Friday. The Chinese Yuan (CNH) weakens against the US Dollar (USD) as China moves to rein in the currency’s strength by scrapping an extra fee for betting against it in the derivatives market.

The AUD/USD pair attracts fresh buyers following the previous day's modest pullback and holds steady above the 0.7100 mark through the Asian session on Friday.

Finance Minister Satsuki Katayama said that Japan is monitoring the Japanese Yen’s (JPY) slide “with a strong sense of urgency” and is in close communication with the US, Reuters reported on Friday.

Gold (XAU/USD) struggles to capitalize on its modest gains registered over the past two days and oscillates in a narrow trading band below the $5,200 mark, during the Asian session on Friday. Geopolitical risks remain in play amid a huge American naval and air power buildup in the Middle East.

EUR/JPY continues to lose ground for the second successive session, trading around 183.80 during the Asian hours on Friday. The currency cross weakens as the Japanese Yen (JPY) strengthens following Tokyo’s mixed inflation data.

The NZD/USD pair is up 0.16% to near 0.5990 during the Asian trading session on Friday. The kiwi pair gains as the US Dollar (USD) ticks up, while investors seek fresh cues on the United States (US) interest rate outlook.

The USD/CAD pair trades with mild losses near 1.3675 during the Asian trading hours on Friday. US policy fog continues to weigh on the US Dollar (USD) against the Canadian Dollar (CAD).

West Texas Intermediate (WTI) Oil price loses ground after registering little gains in the previous session, trading around $65.00 per barrel during the Asian hours on Friday.

Silver (XAG/USD) struggles for a firm near-term direction and remains confined in a multi-day-old range during the Asian session on Friday.