The Euro (EUR) trades on the back foot against the US Dollar (USD) on Friday, with EUR/USD hovering around 1.1720, stabilizing after dipping to intraday lows near 1.1700.

The Pound Sterling retreats during the North American session by a modest 0.10% on Friday as the Greenback recovers some ground, after a week that witnessed US inflation remains steady above the Fed’s 2% goal but controlled. The GBP/USD trades at 1.3556 after hitting a daily high of 1.3580.

The Canadian Dollar (CAD) strengthens modestly US Dollar (USD) on Friday, with USD/CAD hovering around 1.3840 during the American session.

The Euro (EUR) trades with a mild positive tone against the British Pound (GBP) on Friday, with EUR/GBP paring earlier gains after failing to sustain momentum above 0.8660.

The Euro (EUR) is flat, trading unchanged from Thursday’s close with overnight releases limited to as expected, final CPI figures from Germany and France.

The Canadian Dollar (CAD) is trading flat against the US Dollar (USD) and outperforming all of its G10 peers on the crosses, ending the week also unchanged from last Friday’s close, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Silver’s (XAG/USD) broke higher on Thursday and has reached a fresh 14-year high at $42.45, favoured by US Dollar weakness after US Jobless Claims and CPI data paved the path for a Fed rate cut next week.

The US Dollar remains trading within a tight range, with upside attempts limited at 0.7980, following a rejection from the 0.8000 psychological area on Thursday. Higher Jobless Claims and moderate consumer inflation figures cemented hopes of Fed cuts and undermined speculative demand for the USD.

US Dollar (USD) is likely to trade in a range of 146.75/147.65. In the longer run, a narrower range of 146.20/148.50 is likely enough to contain the price movements for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

There is room for New Zealand Dollar (NZD) to rise further, but it is unlikely to be able to break above 0.5990 today. In the longer run, NZD could break above 0.5990; the scope for further advance may be limited, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/JPY trades mid-range after the US Treasury and Japan’s Finance Ministry reaffirmed that exchange rates should be market determined. The rare joint statement, the first since 2022 to mention FX, underscored opposition to competitive devaluations, BBH FX analysts report.

Australian Dollar (AUD) is likely to strengthen further but is unlikely to reach 0.6700. In the longer run, the price action continues to suggest a higher AUD; the next level to watch is 0.6700, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Russia Interest Rate Decision registered at 17% above expectations (16%)

EUR/USD is holding on to most of its post-ECB meeting gains. The ECB left the policy rate steady at 2.00% for a third consecutive meeting (widely expected) and signaled the easing cycle is over. The decision to stand pat was unanimous, BBH FX analysts report.

Pound Sterling (GBP) could test and possibly break above 1.3595, but it is unlikely to be able to maintain a foothold above this level.

The Russian central bank (CBR) meets today for its rate decision: the consensus had originally been split between a 100bp and a 200bp rate cut scenario – but, with more economic weakness and softening of inflation reported, more views have shifted towards the 200bp (down to 16%) option and bets have

The US Treasury Secretary and his Japanese counterpart have issued a joint statement reaffirming their commitment to refrain from 'manipulating FX to gain a competitive advantage', Commerzbank's FX analyst Michael Pfister notes.

The US Dollar is regaining lost ground against a broadly weaker Japanese Yen on Friday. Market concerns about the political uncertainty in Japan are weighing on the JPY, pushing the pair to 187.90.

The EUR/USD pair extends gains on Friday, trading around 1.1745 in the early European session, on track to post a second consecutive weekly gain.

USD/CAD trades around 1.3830 during the European hours on Friday, remaining subdued after registering nearly a quarter-percent loss in the previous session.

The USD/CAD pair trades cautiously near Thursday’s low around 1.3835 during the European trading session on Friday. The Loonie pair retraces from its recent highs of 1.3890 as the US Dollar (USD) faces selling pressure amid growing United States (US) stagflation risks.

NZD/USD depreciates after registering around 1% gains in the previous two sessions, trading around 0.5960 during the early European hours on Friday.

France Consumer Price Index (EU norm) (YoY) in line with expectations (0.8%) in August

France Consumer Price Index (EU norm) (MoM) in line with forecasts (0.5%) in August

Silver price (XAG/USD) extends its winning streak for the third successive session, marking a fresh 14-year high at $42.17 during the Asian hours on Friday.

The EUR/GBP cross trades on a positive note near 0.8650 during the early European session on Friday. The Pound Sterling (GBP) remains weak against the Euro (EUR) after the release of UK Gross Domestic Product (GDP) data.

Germany Consumer Price Index (YoY) in line with forecasts (2.2%) in August

Germany Harmonized Index of Consumer Prices (YoY) meets forecasts (2.1%) in August

The USD/CHF pair trades calmly near 0.7960 during the late Asian trading session on Friday. The Swiss Franc pair ticks up as the US Dollar stabilizes after a sharp downside move on Thursday.

The AUD/JPY cross trades in positive territory for the third consecutive day around 98.20 during the early European session on Friday. The Japanese Yen (JPY) softens against the Australian Dollar (AUD) on political uncertainty in Japan.