EUR/JPY rallies near 80 pips to test 158.00 in the European session. BoJ is reportedly said to leave policy settings unchanged next week. The US Dollar recovers ground, tracking the upsurge in the USD/JPY pair. (FXStreet)

GBP/JPY rallies hard to a nearly two-week high amid aggressive selling around the JPY. Reports indicate that the BoJ will stick to its dovish stance and weigh heavily on the JPY. The upbeat UK Retail Sales contribute to the British Pound’s relative outperformance. (FXStreet)

USD/JPY jumps to near 142.00 as the US Dollar rallies amid a cautious market mood. Fed-BoJ policy divergence is expected to widen further as the BoJ is expected to continue its dovish stance. Japan’s inflation is accelerating more than expected but the key is whether the increase is sustainable. (FXStreet)

Euro trades close to weekly lows near 1.1130 against the US Dollar. Stocks in Europe open mixed in Friday’s session. EUR/USD risks further decline in the short-term horizon. US, Eurozone economic calendars are empty at the end of the week. (FXStreet)

The index appears slightly offered around 100.70. US yields trade with small losses in the European morning. Investors’ focus remains on the upcoming FOMC event. The USD Index (DXY), which tracks the greenback vs. a basket of its main rival currencies, looks mildly offered around 100.70 at the end of the week. (FXStreet)

USD/CAD remains indecisive, struggles to extend previous day’s rebound from weekly low. Bullish chart formation needs validation from Canada Retail Sales for June. Convergence of 200-HMA, fortnight-long descending trend line guards immediate upside. Loonie pair sellers should wait for 1.3100 breakdown while targeting 1.3000 psychological magnet. (FXStreet)

NZD/USD extends its downside for the sixth consecutive day. The 100-hour EMA is on the verge of crossing below the 200-hour EMA. The key support zone is located at 0.6200; the immediate resistance level is seen at 0.6285.

USD/CHF edges higher during the first positive week, so far, in four despite snapping two-day uptrend. Overbought RSI, bearish MACD signals join short-term key resistance line to challenge pair buyers. 200-HMA, one-week-old horizontal region provide headwinds to Swiss Franc pair sellers. (FXStreet)

EUR/GBP is oscillating around 0.8650 as investors await UK Retail Sales data for further guidance. The real income of UK households could grow as PPI has eased significantly.The ECB is expected to raise interest rates on July 27 and in September too. (FXStreet)

AUD/USD meets with a fresh supply on Friday and drops back closer to the weekly low. China’s economic woes undermine the Aussie and exert pressure amid a stronger USD. A sustained breakdown below the 50% Fibo. should pave the way for deeper losses. (FXStreet)

USD/TRY picks up bids to renew intraday high after declining in the last two consecutive days. CBRT lifts interest rates to 17.5% from 15.0%, versus 20.0% expected. Fed’s 0.25% bps rate hike is already given, policy pivot signals past July will be eyed for clear directions. Economic hardships for Turkiye keep Lira on the back foot despite likely future divergence between Fed and CBRT. (FXStreet)

WTI crude oil extends its upside above the $76.20 mark heading into the European session. Market participants are repricing another Fed rate increase after the July meeting. Output cuts, the hope for China’s stimulus plan boosts the WTI price. (FXStreet)

Prices of natural gas rose markedly and approached the key $2.80 region on Thursday. The daily gains, however, were amidst diminishing open interest and hints at the idea that a correction could be in store for the commodity in the very near term. In the meantime, there is a solid up-barrier at the June peak of $2.878 (June 28) ahead of the March high at $3.02 per MMBtu (March 3). (FXStreet)

Gold price faces an intense sell-off as investors are confident that the Fed will raise interest rates further on July 27. More rate hikes are broadly anticipated as the United States' core inflation remains resilient. Support from BRICS’ gold-backed currency discussions is losing its appeal. (FXStreet)

Silver regains positive traction on Friday and reverses a part of the previous day’s downfall. The technical setup remains tilted in favour of bulls and supports prospects for further gains. A convincing break below the $23.00 mark is needed to negate the near-term positive outlook. (FXStreet)

Source: FXStreet, DailyFX

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