Trading news

The EUYR/USD finished Friday’s session with gains of over 0.26% amid a weaker US Dollar, following dovish comments by Fed Governor Christopher Waller, which weighed on US Treasury yields.

United States CFTC Oil NC Net Positions down to 162.4K from previous 209.4K

Australia CFTC AUD NC Net Positions down to $-74.9K from previous $-74.3K

United States CFTC S&P 500 NC Net Positions declined to $-167.8K from previous $-140K

United Kingdom CFTC GBP NC Net Positions: £29.2K vs previous £33.2K

United States CFTC Gold NC Net Positions: $213.1K vs $203K

Japan CFTC JPY NC Net Positions declined to ¥103.6K from previous ¥116.2K

Eurozone CFTC EUR NC Net Positions: €128.2K vs €120.6K

According to the Financial Times, the US President Donald Trump has escalated his demands to the European Union (EU), eyeing at least a minimum tariff of 15% to 20% in a deal with the Eurozone, revealed three people briefed on talks.

Argentina Trade Balance (MoM) increased to $906M in June from previous $608M

Silver (XAG/USD) is treading water on Friday, with spot prices hovering near $38.25 after marking a fresh 14-year high of $39.13 earlier this week.

Gold price advances during the North American session on Friday as the US Dollar weakens, with traders booking profits ahead of the weekend. Additionally, a Fed Governor's comments turned more dovish than expected, supporting a rate cut in July.

The New Zealand Dollar (NZD) is strengthening against the US Dollar (USD) on Friday as investors reposition expectations of US interest rates and look ahead to New Zealand's upcoming inflation data.

United States Baker Hughes US Oil Rig Count declined to 422 from previous 424

The Japanese Yen (JPY) is trading in a narrow range against the US Dollar on Friday, with monetary policy and political factors influencing the pair.

The Australian Dollar (AUD) is recovering lost ground on Friday after a sharp sell-off on Thursday, which was fueled by weaker-than-expected jobs data. The rebound is supported by a softer US Dollar and a rise in Australia’s 10-year government bond yield, which is easing pressure on the Aussie.

The Dow Jones Industrial Average (DJIA) wobbled on Friday, testing fresh weekly highs on consumer sentiment and inflation expectations data. However, the Dow backslid after earnings misses in key overweight companies dragged the index sharply lower to round out the trading week.

The Pound Sterling’s (GBP) struggle to keep pace with the Euro (EUR) this year reflects a shift in market optimism in favour of Germany and the Eurozone. Chancellor Reeves will no doubt be joining businesses in celebrating if the BoE do lower rates again in August.

The Canadian Dollar (CAD) is trading higher against the US Dollar (USD) on Friday as markets focus on dovish comments from Fed Governor Waller.

The GBP/USD rises on Friday during the North American session, up by 0.21% amid a scarce economic docket in both sides of the Atlantic. Soft data announced in the United States (US) slightly boosted the Greenback, though the pair trades at 1.3442 after hitting a daily low of 1.3406.