USD/CAD extends gains as fears over the Middle East situation escalate. US Dollar faced resistance after Fed Chair Powell’s dovish remarks over interest rate trajectory. Solid US economic figures provide support to underpin the Greenback. (FXStreet)

USD/JPY regains positive traction on Friday and climbs back closer to a multi-week top. The divergent BoJ-Fed policy outlook turns out to be a key factor acting as a tailwind. The risk-off mood could benefit the safe-haven JPY and cap gains amid intervention fears. (FXStreet)

NZD/USD continues the losses on fears over the escalating Middle-East situation. Fed Chair Powell's recent statements provided some support for the pair. Upbeat US data is reinforcing the strength of the US Dollar. (FXStreet)

Pound Sterling dropped after data showing that UK Retail Sales declined by almost 1% in September. The decrease in Retail Sales suggests weakening households’ spending, which is the main driver of the UK economy. The Bank of England is widely expected to leave interest rates unchanged. (FXStreet)

Australian Dollar continues to lose ground over escalating fears of the Israel-Gaza conflict. Australia's Unemployment Rate outperformed expectations, standing at 3.6%. The PBoC left Loan Prime Rates (LPR) unchanged at 3.45% for the one-year and 4.20% for the five-year. US Jobless Claims declined to 198K the lowest level since January. Fed Chair Powell suggested that the central bank is not planning to raise rates in the short term. (FXStreet)

The Euro trades on the defensive against the US Dollar. Stocks in Europe open Friday’s session with losses. EUR/USD retreats from weekly highs over 1.0600. The USD Index (DXY) appears well supported by 106.00. Markets continue to digest Fed Chairman Powell’s comments. (FXStreet)

USD/CHF recovers some lost ground, holds above the 0.8900 mark on Friday. The Swiss Trade surplus widened more than expected in September. Fed Chair Jerome Powell signaled a desire to hold the interest rate. (FXStreet)

USD/MXN is seen oscillating in a range on Friday and consolidating its weekly gains. The technical setup favours bullish traders and supports prospects for additional gains. Any meaningful corrective slide could attract some dip-buying and remain cushioned. (FXStreet)

EUR/GBP continues the winning streak after downbeat UK economic data. UK Retail Sales dropped to 0.9% against the anticipated 0.1% decline. German PPI data reveals a decline in prices in the primary markets. (FXStreet)

Indian Rupee gains ground amid global uncertainty and risk-off mood. The escalating geopolitical tension between Israel-Hamas, higher crude oil prices might cap the upside of the Indian Rupee. The Reserve Bank of India's October bulletin showed economy is anticipated to further strengthen through the rest of the year. (FXStreet)

Crude oil prices surge as the US to purchase 6M barrels of crude oil for the SPR. Escalating fears over the Israel-Gaza conflict are underpinning the oil prices. Temporary suspension of US oil sanctions on Venezuela is anticipated to not prompt immediate policy adjustments from the OPEC+ alliance. (FXStreet)

Gold price prolongs its recent uptrend and rallies to a near three-month high on Friday. Geopolitical risks continue to drive haven flows and remain supportive of the move. Elevated US bond yields and a stronger USD might cap gains amid the overbought RSI. (FXStreet)

Silver turns positive for the fourth straight day and climbs back closer to a multi-week high. The technical setup seems tilted in favour of bulls and supports prospects for further gains. Bulls might wait for a move beyond the $23.30-$23.35 confluence before placing fresh bets. (FXStreet)

S&P 500 PRICE FORECAST: Heightened Volatility in the Afternoon Session has Dragged the S&P Lower. Is the Attack on an Air Base in Iraq a Sign of What is to Come? IG Client Sentiment Shows that Retail Traders are Long with 55% of Traders Currently Holding Long Positions. A Sign of Further Downside Potential.

Source: FXStreet, DailyFX

Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.