Forex
The Pound is trimming losses against the US Dollar on Friday, with price action returning above 1.3400 ahead of the US session opening, up from Thursday's lows near 1.3360. The pair is on track to end the week practically unchanged after depreciating about 0.7% in the previous two weeks.
Forex
Strong US Dollar (USD) rally has scope to extend, potentially breaking above 160.00, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Forex
There is a chance for GBP to test 1.3355; the next support at 1.3315 is likely out of reach for now. In the longer run, outlook for GBP is negative; it could decline to 1.3355, potentially reaching 1.3315, UOB Group's FX analysts Quek Ser Leang and Lee Sue Ann note.
Forex
Euro (EUR) could drop to 1.1585 before stabilization can be expected; the major support at 1.1560 is unlikely to come under threat. In the longer run, weakness in EUR has likely resumed, with scope for a decline to 1.1560, UOB Group's FX analysts Quek Ser Leang and Lee Sue Ann note.
Forex
EUR/USD is trading right above 1.1600 at the time of writing on Friday, practically flat on the daily chart and on track to complete a three-week lowing streak.
USD/JPY is entering a high-risk zone as intervention threats intensify and speculative JPY shorts reach a one-year extreme. Price action near the 159.45–159.75 resistance echoes past BoJ intervention levels, while fading momentum raises the risk of a downside break below 158.15. A move lower could trigger a sharp JPY short squeeze, with key supports at 157.50–156.12 now in focus.
Forex
The NZD/USD pair attracts some buyers near 0.5755 during the early European session on Friday. However, the upside for the pair might be limited in the near term after positive US economic data push out expectations for rate cuts by the US Federal Reserve (Fed).
West Texas Intermediate (WTI) Oil price moves little after two days of more than 3% losses, trading around $58.80 during the Asian hours on Friday. WTI price faces challenges as geopolitical risk premiums faded following easing fears of a possible US military strike on Iran.
Forex
USD/CHF pares its recent gains from the previous session, trading around 0.8020 during the Asian hours on Friday. The downside of the pair could be restrained as the US Dollar (USD) may regain its ground amid rising cautious sentiment surrounding the Federal Reserve (Fed) policy outlook.
Commodities
WTI Crude Oil faces a short-term neutral-to-bearish outlook, testing moving average support after failing to hold $60.00. However, the price is anchored in a critical monthly Fibonacci support zone, with an oversold Stochastic and a 15-year Managed Money short extreme in the COT report suggesting strong potential for a long-term bullish reversal.
