The USD/JPY pair meets with some supply during the Asian session on Friday, and for now, seems to have snapped a three-day winning streak back closer to the 159.40-159.45 area, or the year-to-date high.

On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.9007 compared to the previous day's fix of 6.8959 and 6.8888 Reuters estimate.

The EUR/USD pair holds positive ground near 1.1520 during the early Asian trading hours on Friday. However, the potential upside might be limited amid escalating geopolitical tensions in the Middle East.

AUD/USD gains ground after registering over 1% losses in the previous session, trading around 0.7090 during the Asian hours on Friday. The Australian Dollar (AUD) finds support against the US Dollar (USD) amid hawkish expectations surrounding the Reserve Bank of Australia (RBA) policy outlook.

A Reuters poll showed on Friday that 23 of 30 economists expect the Reserve Bank of Australia (RBA) to raise the Official Cash Rate (OCR) to 4.10% on March 17. Seven economists projected no change. The forecast marks a shift from February’s poll, which anticipated rates to remain at 3.85%.

 West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $95.75 during the early Asian trading hours on Friday. The WTI price surges due to the effective closure of the Strait of Hormuz amid conflict involving the United States (US), Israel, and Iran.

OCBC strategists Sim Moh Siong and Christopher Wong observe that Asian FX, including the Singapore Dollar, still vulnerable to Oil-driven inflation and growth risks despite the IEA’s reserve release.

Iran’s new supreme leader, Mojtaba Khamenei, said in his first public statement since being appointed that the closure of the Strait of Hormuz maritime passage should be continued as a “tool to pressure the enemy,” CNBC reported on Thursday. 

Gold price (XAU/USD) faces some selling pressure near $5,090 during the early Asian session on Friday. The precious metal extends the decline amid a stronger US Dollar (USD) and higher Treasury yields.

Commerzbank analysts note that January industrial production rose 5.9% year-on-year, the strongest since mid‑2024, driven by export-oriented manufacturing and semiconductor demand.

Standard Chartered economists Tommy Wu and Hunter Chan note that the Offshore Renminbi (CNH) has shown a stable performance, with the Renminbi Globalisation Index largely flat between November and January after gains in August-October.

BNY Strategist Geoff Yu notes a surprising surge in Chinese Yuan demand since the conflict began, with underhedged positions cleared and Chinese assets holding up, especially equities.

New Zealand Business NZ PMI fell from previous 55.2 to 55 in February

HSBC positions Asia as a prime destination for investors diversifying away from US-heavy portfolios, citing dynamic growth, strong domestic demand and supportive technology policies.

Commerzbank economists highlight that Taiwan’s February exports grew 20.6% year-on-year, marking a thirteenth straight month of double-digit gains despite holiday distortions. Electronics and AI-related shipments remain robust, though officials warn Middle East conflict could weigh on trade.

Asset manager BlackRock expanded its digital asset suite with the launch of an Ethereum (ETH) staking exchange-traded fund (ETF) on the Nasdaq on Thursday, the firm's first crypto product that generates yield.

OCBC strategists Sim Moh Siong and Christopher Wong highlight that easing Oil prices, a softer Dollar and a firmer RMB aided partial Ringgit recovery.

OCBC strategists Sim Moh Siong and Christopher Wong note that USD/CNH is consolidating near recent lows with fading bullish momentum, as fears of persistently high Oil prices and Iran-related risks weigh on broader sentiment despite the IEA’s reserve release.

Israeli Prime Minister Benjamin Netanyahu held its first press conference since the war with Iran started and said that they are aiming to stop Iran from moving nuclear and ballistic projects underground, and changing the Middle East.

The AUD/USD turned lower on Thursday, retreating from the multi-year peak of 0.7186 achieved on Wednesday. The Greenback hedged sharply higher as the Middle East war intensified, pushing Oil prices up and fuelling demand for the safe-haven US Dollar (USD).

Argentina Consumer Price Index (MoM) came in at 2.9%, above expectations (2.7%) in February

The Swiss Franc (CHF) is experiencing marked losses against both the Euro (EUR) and the US Dollar (USD) as the NA session draws to a close on Thursday.

The new Supreme Leader of Iran, Mojtaba Khamenei, said that attacks on neighboring country military bases will inevitably continue, also adding that “Iran will not refrain from avenging the blood of its martyrs”.

West Texas Intermediate (WTI) crude Oil continues to experience extreme volatility, with prices rising more than 7.5% on Thursday as traders grow increasingly concerned about prolonged supply disruptions through the Strait of Hormuz amid the ongoing US-Iran war.

The Greenback picks up further pace on Thursday, largely exceeding the 99.00 hurdle to hit fresh multi-month tops while nearing the psychological 100.00 hurdle when tracked by the US Dollar Index (DXY).

The US Dollar (USD) trades with a firmer tone across the FX board in the American session on Thursday, as persistent concerns about oil supply disruptions undermine the market’s mood. The EUR/USD pair trades in the 1.1520 price zone, not far above the 2026 low at 1.1507.

United States 30-Year Bond Auction rose from previous 4.75% to 4.871%