The GBP/USD pair trades with a positive bias for the second straight day on Friday, though it remains confined in the previous day’s broader trading range, around the 1.3100 round figure during the early European session.
EUR/USD extended its weekly slide and closed in negative territory on Thursday. The pair stages a modest rebound and trades near 1.1550 in the European morning on Friday as market focus shifts to the Purchasing Managers’ Index (PMI) data from the US.
Gold is struggling for a direction, while trading under the $4,100 mark early Friday, although remaining confined in a familiar range. Despite the range-play, Gold is set to end the week on a subdued note.
EUR/USD’s decline faltered just ahead of the key contention zone at 1.1500 on Thursday, managing to regain some composure afterwards and climb to the 1.1540 zone following the closing bell in Europe.
The Australian Dollar (AUD) trades in an erratic performance on Thursday, with AUD/USD orbiting around the 0.6480 zone and managing to regain some breathing room following Wednesday’s sharp pullback.
The US dollar continues to push higher against the Japanese yen, with dips viewed as buying opportunities. Strong interest rate differentials and limited Bank of Japan tightening prospects keep bullish momentum intact despite near-term resistance.