The Canadian Dollar (CAD) found room on the high side on Friday, climbing nearly 0.9% and locking in a second straight week of firm gains for the Loonie. The CAD has gained nearly 2.2% bottom-to-top against the US Dollar (USD) since hitting seven-month lows in early November.

The Australian Dollar (AUD) extends its advance against the US Dollar (USD) on Friday, with AUD/USD climbing to its highest level since September 18 as traders are almost certain the Reserve Bank of Australia (RBA) will leave interest rates unchanged on December 9.

The Euro (EUR) trims earlier gains against the US Dollar (USD) on Friday as the Greenback firms following the latest set of US economic releases.

The US Dollar’s (USD) sharp H1 2025 drop could push investors toward broader portfolios, though geopolitics and Fed risks may keep the currency unsettled.

EUR/GBP remains under pressure on Friday as the Euro (EUR) continues to soften against a broadly supported British Pound (GBP). Sterling has held firm since the UK Autumn Budget, even as markets maintain strong expectations for a Bank of England (BoE) interest rate cut at the December 18 meeting.

The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Friday as a stronger-than-expected Labour Force Survey boosts sentiment around the Loonie.

The Euro (USD) trades flat near the midpoint of its intraday range, supported by stronger-than-expected German and French industrial data.

EUR/JPY recovers from early lows on Friday as the Japanese Yen struggles to benefit from growing expectations of a Bank of Japan (BoJ) rate hike.

The US Dollar has popped up above the 155.00 line against the Japanese Yen on Friday’s European session, after bouncing up from two-week lows at 154.30 on Thursday.

The Reserve Bank of India (RBI) cut its policy rate by 25bps to 5.25%, supporting economic growth amid a benign inflation outlook. USD/INR hovers just below record highs as markets price in a floor for rates, with potential future hikes over the next two years, BBH FX analysts report.

USD/JPY fell to 154.35 as the Japanese Yen (JPY) strengthens amid growing expectations for a Bank of Japan (BoJ) rate hike this month.

USD/CAD is under pressure near 1.3940 as markets await Canada’s November labor force survey, with modest job losses expected. The Bank of Canada (BOC) is likely done cutting rates, while upcoming USMCA talks remain a potential downside risk for the Canadian economy, BBH FX analysts report.

The Euro (EUR) is on track for a second weekly gain versus the US Dollar (USD), supported by expectations of a narrowing policy gap between the Fed and ECB.

The Japanese Yen (JPY) is finding support from expected BoJ rate hikes, with markets pricing a 25bp move for December 19. USD/JPY is projected to reach 152 by year-end, with a modest 148 forecast for 2026 as Japan balances reflation and currency strength, ING's FX analyst Chris Turner notes.

USD/JPY has broken its historical link to US–Japan yield spreads, with correlations turning negative as Japan-specific risks dominate.

The US Dollar remains pinned near monthly lows at 1.3930 on Friday, on track to a 0.2% weekly decline, following another 0.9% drop in the previous week, with all eyes on Canada’s employment figures and the US Personal Consumption Expenditures (PCE) Prices Index releases, due later today.Recent US em

Eurozone Employment Change (YoY) came in at 0.6%, above forecasts (0.5%) in 3Q

Eurozone Employment Change (QoQ) above expectations (0.1%) in 3Q: Actual (0.2%)

USD/INR remains in a firm uptrend after July’s breakout, with scope to test the upper channel at 90.80–91.00, Société Générale's FX analysts note.

Eurozone hedging costs on U.S. assets are falling sharply, reinforcing tailwinds for EUR/USD as the Fed easing cycle approaches. Near term, the pair should stay supported around 1.1630/40 with scope to test 1.1700–1.1730, ING's FX analyst Chris Turner notes.

USD/CAD is pressing into major support at the 200-day average and the base of its multi-month channel near 1.3920/1.3880, Société Générale's FX analysts note.

The Pound is in a positive trend against the Yen. The pair has rallied about 3.5% from early November lows, although the rally has stalled this week, with bulls failing to find follow-through beyond the 2076.35 area.

The Pound Sterling (GBP) strives to extend its recent rally against its major currency peers on Friday.

EUR/USD resumes gains on Friday, trading at 1.1660 at the time of writing, after bouncing from the 1.1640 area on Thursday. Downside attempts remain limited with markets bracing for a quarter-point interest rate cut by the Federal Reserve next week.

The New Zealand Dollar maintains its bullish trend against its US counterpart intact. Downside attempts have been contained above 0.5760, and the pair resumed its uptrend from mid-November lows, reaching monthly highs at 0.5780, with October 6 and 29 highs, in the 0.5800 area coming into focus.

The EUR/GBP cross trades on a flat note near 0.8735 during the early European session on Friday. Concerns over UK tax hikes and a dovish stance from the Bank of England (BoE) could exert downward pressure on the Pound Sterling.

Statistics Canada will release its Labour Force Survey on Friday, and markets are bracing for a weak print. The Unemployment Rate is expected to tick higher to 7% in November, while the Employment Change is forecast to come in flat after a nice gain in October.

Here is what you need to know on Friday, December 5:

The AUD/USD pair extends its winning streak for the eleventh trading day on Friday, rising to near 0.6620 during the early European trading session.

The USD/CHF pair loses momentum to around 0.8030 during the early European session on Friday.