Commodities
Silver (XAG/USD) shows minor gains on Friday, trading at $77.35 at the time of writing after bouncing from lows near $74.00 on Thursday. The white metal, however, remains on track for its third consecutive weekly decline, with bulls lacking follow-through above the $79.00 area.
Forex
The Pound (GBP) extends losses against the US Dollar (USD) for the fourth consecutive day, trading around 1.3600 on Friday after pulling back from weekly highs above 1.3700.
EUR/USD is tightly coiled ahead of the crucial U.S. Consumer Price Index (CPI) release, which was delayed this month. The pair's fate hangs on two factors: Inflation Realities and Labor Market Strength. A "hot" CPI print is expected to reinforce the Fed's hawkish pause, potentially driving EUR/USD down to the 1.1785 support. Conversely, further signs of a cooling U.S. labor market, like rising jobless claims, could weaken the Dollar and allow the Euro to retest the 1.2000 psychological barrier.
Forex
The Euro (EUR) keeps trading lower against the US Dollar (USD) for the fourth consecutive day on Friday, hovering below 1.1860 at the time of writing, down from its weekly high of 1.1928.
Indices
Deutsche Bank analysts describe a broad risk-off session where the S&P 500 logged a third straight decline, led by heavy losses in software and mega-cap tech.
Indices
The Dow Jones retreated to its 20-day moving average after hitting fresh record highs, as technology stocks dragged US indices lower. Key support sits at 49,265, while a break above 49,940 could revive bullish momentum and open the door to a retest of all-time highs. Failure to hold support risks a deeper pullback toward the 50-day moving average zone.
Commodities
A global tech sell-off, sparked by disappointing earnings from Cisco and a slump in Apple, weighs on Asian and European markets. Amidst the caution, the Japanese yen surges for its strongest weekly gain in 15 months. Gold recovers ahead of key US CPI inflation data, while oil prices drift lower as Mideast tensions ease and supply from Venezuela increases. The report details market movements, Swiss inflation, and a technical look at the FTSE 100.
Forex
The New Zealand Dollar (NZD) is coming under increasing bearish pressure on Friday, amid a firmer US Dollar (USD), favoured by the dismal market mood.
Forex
GBP/USD remains subdued for the fourth successive session, trading around 1.3600 during the European hours on Friday. The technical analysis of the daily chart indicates an ongoing bullish bias, as the pair trades within an ascending channel pattern.
Forex
The EUR/GBP cross trades with mild gains around 0.8715 during the early European session on Friday. The Pound Sterling (GBP) weakens against the Euro (EUR) after the downbeat UK economic data.
