China’s Services Purchasing Managers’ Index (PMI) declined to 54.1 in June from 54.4 in May, the latest data published by RatingDog showed on Friday.
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The USD/JPY pair attracts fresh sellers following a modest Asian session uptick to the 161.50 region and turns lower for the second straight day on Friday.
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Japan’s Finance Minister Satsuki Katayama said on Friday that officials are ready to act appropriately on currency fluctuations. However, Katayama decllined to comment on specific currency levels.
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USD/CAD inches higher after registering modest losses in the previous day, trading around 1.4190 during the Asian hours on Friday. The currency pair is holding its ground as a tug-of-war unfolds between a weakening crude oil market and soft economic data out of the United States (US).
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Iran’s joint military command warned any US interference in the Strait of Hormuz will be met with a “decisive and swift response” as tensions continue to roil negotiations, Aljazeera news agency reported on Thursday.
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United Overseas Bank’s (UOB) Quek Ser Leang reports USD/CNH is consolidating after a prior decline to 6.7865, with prices oscillating between 6.7911 and 6.8025 and closing at 6.7948. He expects intraday action to remain confined to 6.7860–6.7990.
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Gold price (XAU/USD) gains traction to around $4,125 during the early Asian session on Friday. The precious metal extends the rally after weaker-than-expected US Nonfarm Payrolls (NFP) data reduced expectations of Federal Reserve (Fed) interest rate hikes this year.
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Thursday belonged to the US Dollar, not the Aussie. A soft American payrolls print sent AUD/USD spiking toward 0.6950 on release, before it gave most of that back to close well off its high.
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UOB’s Global Economics & Markets Research highlights that Thailand’s external buffers remain credible, but current-account dynamics have turned less favorable. Apr–May deficits reflect strong imports of energy and capital goods alongside resilient exports, reducing domestic value-added.
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The Pound bounced off the long-term support line that has repeatedly held near its seven-month lows, clawing back toward the cluster of moving averages overhead.
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The Japanese Yen (JPY) rebounded from four-decade lows on Thursday, a move that owed nothing to the Bank of Japan (BoJ).
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The NZD/USD pair advanced toward the 0.5700 level on Thursday as the US Dollar (USD) weakened following softer-than-expected United States (US) employment data.
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