The NZD/USD pair rises to around 0.5835, snapping the four-day losing streak during the early European trading hours on Friday. However, the potential upside for the pair might be limited as markets turn cautious ahead of the key US Consumer Price Index (CPI) inflation data later on Friday. 

The Australian Dollar (AUD) is up 0.22% at around 0.7175 against the US Dollar (USD) during the European trading session on Friday.

The British Pound (GBP) attracts significant bids against its peers, with the GBP/USD pair rising to near 1.3518, as the United Kingdom (UK) Office for National Statistics (ONS) has reported strong monthly Gross Domestic Product (GDP) data for July. Th

USD/CAD extends its gains for the third consecutive day, trading around 1.3840 during the Asian hours on Friday. The technical analysis of the daily chart indicates the pair is remaining within the descending channel pattern, signalling a persistent bearish bias.

The Indian Rupee (INR) extends its downward spiral against the US Dollar (USD) for the fourth trading day on Friday, with the USD/INR pair rising to near 95.80 in the opening session.

The EUR/USD pair remains under some selling pressure for the second straight day on Thursday, though it lacks follow-through and holds above the weekly low, which it touched the previous day.

The EUR/JPY cross trades in negative territory around 179.10 during the early European session on Friday. The expectation of a Bank of Japan (BoJ) rate hike next week provides some support to the Japanese Yen (JPY) against the Euro (EUR). 

USD/CHF gains ground for the third consecutive day, trading around 0.8140 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) gains ground as expectations grow for a Federal Reserve (Fed) rate hike in September.

Silver price (XAG/USD) extends its losses for the second successive day, trading around $63.30 per troy ounce during Asian hours on Friday. Silver prices are declining as expectations grow for a Federal Reserve (Fed) rate hike in September.

USD/CAD extended its gains for the third consecutive day, trading around 1.3840 during the Asian hours on Friday. The pair appreciates as the commodity-linked Canadian Dollar (CAD) struggles due to lower oil prices.

The NZD/USD pair gains some positive traction during the Asian session on Friday, reversing a part of the previous day's heavy losses to sub-0.5800 levels, or the lowest since late July.

The GBP/USD pair trades on a flat note near 1.3510 during the early Asian session on Friday. Traders prefer to wait on the sidelines ahead of the key US August Consumer Price Index (CPI) inflation report later on Friday. 

The USD/JPY pair struggles to capitalize on the previous day's recovery momentum and edges lower during the Asian session on Friday.

On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7743 compared to the previous day's fix of 6.7766 and 6.7174 Reuters estimate.

The EUR/USD pair holds steady around 1.1610 during the early Asian session on Friday. Traders continue to assess a hawkish hike from the European Central Bank (ECB).

The Australian Dollar ended Thursday’s session with a 0.80% loss against the US Dollar after US producer inflation exceeded estimates, triggering pricing for a more hawkish Federal Reserve. The AUD/USD trades at 0.7159 after reaching a peak of 0.7223.

The Australian Dollar weakens versus the Japanese Yen as risk-appetite shifted sour due to the escalation of the US-Iran conflict, which has broadened to a fight between Yemen’s Houthis vs Saudi Arabia, who fight for control of the Red Sea. The AUD/JPY exchange rate is 110.53, down 0.27%.

NZD/USD is clinging to the 0.5800 mark at the start of the Asian session on Friday after dipping to a near two-month low around 0.5797 earlier in the American session.

The US Dollar Index (DXY) reclaimed the 99.00 barrier and then some, rebounding firmly as the hot Producer Price Index (PPI) rose 5.4% over the year to August, hardening expectations for a Fed rate hike at next week's meeting.

The Kiwi Dollar fails to clear a confluence of key Simple Moving Averages (SMAs) and dives below 0.5800, printing a near two-month low of 0.5797. At the time of writing, NZD/USD is down 0.65% and poised to test lower levels if it closes below 0.58.

EUR/JPY rises above the 179.00 mark on Thursday in the aftermath of the European Central Bank (ECB) raising its deposit rate by a quarter point to 2.50%, its second hike since the US-Iran war broke out.

Scotiabank strategists Shaun Osborne and Eric Theoret highlight that USD/JPY is edging higher as the Japanese Yen trades defensively after its sharp late-August rally. The Bank of Japan’s messaging is described as unequivocally hawkish ahead of a widely anticipated 25 bps hike on September 18.

USD/CAD holds modest gains on Thursday as the US Dollar (USD) loses momentum after staging a modest recovery, despite US Producer Price Index (PPI) data showing that producer inflation picked up again in August.

The Pound Sterling loses traction against the US Dollar after the latest producer inflation report, which exceeded estimates, prompting investors to price in a more hawkish Federal Reserve. The GBP/USD trades at 1.3525, down 0.17%.

Scotiabank strategists Shaun Osborne and Eric Theoret note GBP/USD is little changed as it extends its recovery from last week’s lows, with risk set to rise on upcoming United Kingdom (UK) trade and industrial data.

The Australian Dollar eased against the US Dollar on Thursday, slipping back below the 0.7200 mark after touching its highest level since mid-May earlier in the week. AUD/USD trades in the 0.7160 area, lower on the day, as a firmer US Dollar pulls the pair away from a recent peak around 0.7220.

EUR/GBP trades with a modest positive bias on Thursday but stays within the narrow range that has been in place for more than a week.

Scotiabank strategists Shaun Osborne and Eric Theoret note USD/CAD is holding a tight sideways range near 1.38 with no domestic data, leaving the Canadian Dollar (CAD) driven by external factors and technicals.

Brown Brothers Harriman's (BBH) Elias Haddad reports that the recent USD/JPY decline has stalled despite hawkish comments from Bank of Japan (BoJ) member Kazuyuki Masu, with markets already pricing a 25 bps hike to 1.25% on September 18.

USD/JPY advances to around 154.15 on Thursday at the time of writing, up 0.40% on the day. The pair benefits from a rebound in the US Dollar (USD), supported by US data showing accelerating producer price pressures and a still-resilient labor market.