EUR/USD picks up bids to refresh a 16-month high near 1.1235 during early Friday, rising for the seventh consecutive day to brace for the biggest weekly gain since November 2022. In doing so, the Euro pair fails to justify hawkish comments from Federal Reserve Governor Christopher Waller, as well as the cautious mood ahead of the mid-tier data from the US and Eurozone. (FXStreet)

The GBP/USD pair oscillates in a narrow trading band during the Asian session on Friday and consolidates its recent strong gains registered over the past two weeks or so, to its highest level since April 2022. Spot prices currently trade around the 1.3130-1.3125 region and the fundamental backdrop still seems tilted firmly in favour of bullish traders. (FXStreet)

The USD/CHF pair enters a bearish consolidation phase and oscillates in a narrow trading band around its lowest level since January 2015 touched during the Asian session on Friday. Spot prices remain below the 0.8600 mark and seem vulnerable to prolonging a six-day-old bearish trend. (FXStreet)

USD/JPY rebounds from the lowest levels in two months while paring intraday loss near 137.70 heading into Friday’s European session. In doing so, the Yen pair justifies oversold RSI conditions despite being in the red for the seventh consecutive day. (FXStreet)

The AUD/USD pair is seen consolidating its recent strong gains to a nearly one-month top and oscillating in a narrow trading band through the Asian session on Friday. Bulls now await a sustained strength above the 0.6900 round figure before placing fresh bets and positioning for an extension of the recent rally witnessed over the past week or so, from sub-0.6600 levels or the monthly low. (FXStreet)

The NZD/USD pair is aiming to shift auction above the round-level resistance of 0.6400 in the Asian session. The Kiwi asset has got enormous strength as the US Dollar Index (DXY) has slipped below the psychological support of 100.00. The USD Index has dropped to near 99.60 as the United States economy is swiftly approaching towards 2% inflation scenario due to aggressive policy-tightening from the Federal Reserve (Fed). (FXStreet)

The USD/CAD pair licks its wounds around the 1.3100 area, the lowest level in 10 months. The pair remains under pressure following weaker US inflation data earlier in the week. (FXStreet)

The EUR/GBP cross attracts some buying near the 0.8535 region on Friday, albeit struggles to capitalize on the modest intraday uptick and remains confined in the previous day's broader range. Spot prices, however, manage to hold above the lowest level since August 2022 touched on Thursday and currently trade around the 0.8550-0.8555 zone, up less than 0.10% for the day. (FXStreet)

USD/CNH bears lick their wounds at the lowest level in a month as the offshore Chinese Yuan pair rebounds from the monthly low to 1.1470 early Friday, after initially refreshing the multi-day bottom. In doing so, the pair justifies the market’s mixed concerns about Beijing even as the dovish Federal Reserve (Fed) bias weighs on the quote. (FXStreet)

EUR/PLN has reached and fallen below Commerzbank’s end-2023 target of 4.45. The bank updates its EUR/PLN forecasts. (FXStreet)

The AUD/NZD pair consolidates in a narrow range between the 1.0750-1.0790 area on the four-hour chart. The path of least resistance for the AUD/NZD is to the downside, as the cross stands below the 200-hour Exponential Moving Average (EMA). (FXStreet)

USD/TRY reverses the previous day’s losses while rising to 26.13 heading into Friday’s European session. In doing so, the Turkish Lira (TRY) pair justifies the US Dollar’s corrective bounce from the multi-day low amid sluggish trading hours ahead of mid-tier US consumer-centric data. (FXStreet)

The USD/MXN has found intermediate supported after correcting to near 16.82 in the early European session. The downside bias in the asset has not faded yet and for a sustained bullish reversal, the pair has to pass through various filters. The major has followed the footprints of the US Dollar Index (DXY), which has also made a recovery attempt around 99.55. (FXStreet)

EUR/JPY recovers from the intraday low but stays mildly offered near 154.80 heading into Friday’s European session. In doing so, the cross-currency pair traces the latest corrective bounce in the Treasury bond yields, as well as justifies the downbeat Japan data, amid sluggish trading hours. (FXStreet)

The GBP/JPY pair hovers around the 180.60 mark in the Asian session on Friday. The cross struggles to gain traction after retreating from the 181.40 region. (FXStreet)

USD/INR renews intraday low near 81.96 during Friday morning in India as markets braces for the mid-ties US data to confirm the recently dovish concerns about the Federal Reserve (Fed). (FXStreet)

The AUD/JPY cross comes under some selling pressure during the Asian session on Friday and stalls its recovery from the monthly low, around the 93.25-93.20 region touched earlier this week. Spot prices drop to a fresh daily low, around the 94.55 area in the last hour and for now, seem to have snapped a two-day winning streak. (FXStreet)

Prices of WTI extended their monthly rally and flirted with the key 200-day SMA above the $77.00 mark on Thursday. The strong uptick came amidst increasing open interest and volume and leaves the door open to the continuation of the uptrend to, initially, the key $80.00 mark per barrel in the very near term. (FXStreet)

Prices of natural gas extended the weekly corrective decline on Thursday. The negative price action was on the back of increasing open interest and volume and this is indicative that further losses appear in the pipeline in the very near term. So far, the $2.50 region per MMBtu still emerges as an initial decent contention for the commodity. (FXStreet)

Gold price (XAU/USD) is demonstrating a non-directional performance from Thursday after a stalwart rally to near $1,960.00. The precious metal has failed to capitalize on soft inflation and Producer Price Index (PPI) June report, which cleared that households’ demand has turned subdued and the path towards the 2% inflation target is intact. (FXStreet)

Silver Price (XAG/USD) retreats from the highest levels since early May, down 0.11% intraday near $24.85 amid the mid-Asian session on Friday. In doing so, the XAG/USD portrays the market’s anxiety ahead of the US consumer-centric data for July while printing the first daily loss in three. (FXStreet)

BTC/USD has rebounded from near major cushion on the 200-day moving average, coinciding with the lower edge of a rising channel from early 2023. This coupled with the subsequent rise above minor resistance at the May high of 28460 has confirmed that the downward pressure has faded, raising the odds of further gains. (DailyFX)

On technical charts, ETH/USD last month rebounded from strong converged support on the 200-day moving average, coinciding with an upper edge of a rising trendline from the end of 2022. The hold above the major average is an important sign, keeping intact the medium-term upward bias. See the previous update highlighting the significance “Bitcoin & Ethereum Slide as Fed Signals Higher Rates: BTC/USD & ETH/USD Price Setups”, published June 15. (DailyFX)

Cryptocurrencies jumped after a US judge ruled on Thursday that Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges. Technical charts suggest Bitcoin and Ethereum could be preparing for another leg higher. (DailyFX)

Source: FXStreet, DailyFX

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