Some impressive US data should have resulted in a much stronger USD. Well, it didn’t happen.

Gold (XAU/USD) started the week on a bullish note and climbed above $5,000 before declining sharply and erasing its weekly gains on Thursday, only to recover heading into the weekend. Investors await growth and business activity data from the US, while keeping an eye on the broad market mood.

The US dollar is testing key support at the 152-yen level and the 200-day EMA, with Friday’s CPI data likely to determine the next major move in USD/JPY.

The US dollar rebounded slightly against the Mexican peso on Thursday, but the prevailing downtrend and carry trade dynamics continue to favor the peso.

The EUR/CHF pair is holding key 0.91 support, with potential Swiss National Bank intervention looming if the franc strengthens further against the euro.

The British pound remains volatile against the US dollar ahead of key US inflation data, with critical levels at 1.3750 and 1.35 set to determine the next move.