In Friday's session, the NZD/USD took a slight break from its continual downward trajectory, mildly rebounding to 0.5890.

EUR/USD found a slim foothold on Friday, rising one-fifth of one percent at the bell but still ending the overall week in the red, adding into a two-week decline of around 1.12% top-to-bottom.

GBP/USD floundered on Friday, climbing a scant 0.13% on the day as the Pound Sterling gets weighed down by broad-market expectations of a rate cut from the Bank of England (BoE) next week.

In Friday's session, the AUD/JPY pair showed a minor recovery, rising by 0.15% to end at 100.79.

The USD/JPY dropped 0.14% on Friday as the pair recovered some ground after hitting a 14-week low of 151.93.

In Friday's trading session, the USD/CHF managed to improve, closing up by 0.15% at around 0.8830 against the backdrop of fluctuating Personal Consumption Expenditures (PCE) numbers released by the United States.

In Friday's session, the Australian Dollar (AUD) slightly recovered against the USD, as AUD/USD rebounded to 0.65515 due to corrective activities after intensive sell-offs in the previous sessions.

The Mexican Peso trimmed some losses against the US Dollar on Friday, yet it’s set to end the week with over 2% losses.

The Canadian Dollar (CAD) found little support on Friday, easing back against most of its major currency peers as global markets focus on US inflation figures.

The Pound Sterling clings to minuscule gains on Friday after the latest inflation report in the United States (US) reinforced investors' bets that the US Federal Reserve could begin slashing rates at the September monetary policy meeting.

The Pound Sterling (GBP) has nudged a little higher in quiet Asian and European trade after closing on the lows yesterday, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Euro (EUR) is flat on the day and down only modestly on the week as it holds a neutral range trade around 1.0850, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

The Canadian Dollar (CAD) is slightly firmer on the session and while it remains down (0.6%) on the week versus the US Dollar (USD), it remains a clearly better performer overall than its close commodity peers (AUD and NZD are both down nearly 2%), Scotiabank’s Chief FX Strategist Shaun Osborne notes.

Yesterday morning, the CNY was able to take advantage of the JPY's strength against the US Dollar and also appreciated significantly against the greenback.

Those who still believed that the JPY's rally was due to idiosyncratic factors that only affect the Japanese currency were disabused of that notion by 2:30 p.m.

The AUD/USD pair remains steady above the immediate support of 0.6520 in Friday’s New York session after the release of the mixed United States (US) Personal Consumption Expenditure Inflation (PCE) report for June.

EUR/JPY is at risk of recovering after the steep sell-off of the last two weeks has stalled.

USD/CAD has risen to the top of the range it has been trading in since the middle of April.

Thursday was a bit puzzling. Due to concerns about the current state of the US consumer and general uncertainty about the state of the global manufacturing sector, uncertainty had spread to the currency markets in recent days, Commerzbank FX strategist Volkmar Baur notes.

For some time, we have held a 200bp rate hike to then 18% as base-case for today’s Russian central bank (CBR) meeting.

EUR/GBP can persist towards the 50-DMA at 0.8465 and the graphical levels of 0.8480/0.8500, Societe Generale FX strategists note.

Russia Interest Rate Decision meets forecasts (18%)

The NZD/USD pair finds temporary support near an almost three-month low of 0.5880 in Friday’s European session after a six-day losing spell.

The Mexican Peso (MXN) recovers in its most traded pairs on Friday after an over-week-long sell-off.

BoE will judge the stickiness in services inflation as down primarily to one-off factors and may look at more ‘core’ measures that instead point to a less worrying picture.

In just three months, activity surveys in Germany went from showing slower momentum to effectively arguing against any optimism on the economic outlook.

USD/JPY caught a breather on Thursday, now stabilising slightly above 154.0, ING’s FX strategist Francesco Pesole notes.

The US Dollar (USD) is expected to trade in a range between 152.80 and 154.80.

The New Zealand (NZD) is likely to trade in a range between 0.5870 and 0.5920.

Room for the Australian Dollar (AUD) to rebound, but any advance is expected to face solid resistance at 0.6580.