NZD/USD trades higher around 0.5865 on Friday, gaining 0.22% at the time of writing, while the US Dollar (USD) loses ground with the US Dollar Index (DXY) down 0.18% at 98.65.

The GBP/USD pair recovers its early losses and turns positive around 1.3490 during the European trading session on Friday. The Cable gains as the US Dollar (USD) corrects after a three-day winning streak.

The Australian Dollar (AUD) posts marginal gains against the US Dollar (USD) on Friday, but remains near 10-day lows of 0.7110, with upside attempts capped below 0.7135 so far.

Russia Interest Rate Decision in line with forecasts (14.5%)

United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann note USD/JPY has pushed up to 159.84, validating earlier expectations for a retest of 159.65. While upward momentum is slowing, they still look for the pair to edge higher within a 159.40–160.05 intraday band.

EUR/JPY trades around 186.70 on Friday, posting a modest 0.06% gain as investors remain cautious ahead of a week marked by monetary policy decisions from several major central banks. The pair is supported by a broadly resilient Euro (EUR), while facing mixed flows on the Japanese Yen (JPY).

The US Dollar (USD) maintains a near-term bullish trend against the Swiss Franc (CHF), but the pair eased from 10-day highs of 0.7875 on Friday to levels close to 0.7860, as the President of the Swiss National Bank (SNB), Martin Schlegel, hinted at changes in the bank’s monetary policy.

Silver (XAG/USD) trades lower for the second consecutive day on Friday, weighed by the US Dollar’s strength, as investors lose their hopes of a swift end to the Middle East conflict.

Societe Generale analysts observe that USD/JPY has formed a small base above its 50‑day moving average after an earlier failed breakout.

The EUR/USD pair trades in a tight range around 1.1700 during the European trading session on Friday. The major currency pair consolidates while the US Dollar (USD) trades broadly firm, with investors shifting focus to central banks’ policy meetings next week.

ING’s Chris Turner says rising short-dated Eurozone yields on higher Oil and pass-through of input costs are not clearly supportive for EUR/USD. He argues the European Central Bank must get ahead of inflation expectations and that current real rate differentials are unsupportive.

Here is what you need to know on Friday, April 24:

Germany IFO – Expectations came in at 83.3 below forecasts (85) in April

Germany IFO – Current Assessment below expectations (86.2) in April: Actual (85.4)

Germany IFO – Business Climate below expectations (85.5) in April: Actual (84.4)

OCBC strategists Sim Moh Siong and Christopher Wong note that USD/JPY is again approaching 160 as the US Dollar (USD) benefits from safe-haven flows and Japanese authorities reiterate intervention readiness.

The USD/JPY pair enters a bullish consolidation phase on Friday and oscillates in a range below the 160.00 psychological mark through the early European session amid mixed cues. Nevertheless, spot prices seem poised to register gains for the first time in three weeks.

The AUD/USD pair trades subduedly around 0.7120 during the European trading session on Friday. The Aussie pair ticks lower as the US Dollar (USD) trades broadly firm amid higher oil prices due to the prolonged closure of the Strait of Hormuz, a critical passage to almost 20% of global energy supply.

USD/CAD continues its winning streak for the fourth successive day, trading around 1.3710 during the early European hours on Friday. However, the technical analysis of the daily chart indicates the pair is remaining within the descending channel pattern, signaling a persistent bearish bias.

The Euro (EUR) remains practically flat against the British Pound (GBP) on Friday, trading at 0.8675 at the time of writing, with resistance at the 0.8680 area capping Thursday’s rebound from 0.8654 lows.

The GBP/JPY pair finds buyers’ interest above 215.00 during the European trade on Friday after the release of the United Kingdom (UK) Retail Sales data for March.

GBP/USD steadies after three days of losses, trading around 1.3470 during the Asian hours on Friday. The pair stays calm following the release of United Kingdom (UK) Retail Sales data, which rebounded 0.7% month-over-month (MoM) in March after declining by a revised 0.6% in February.

The Indian Rupee (INR) opens positively against the US Dollar (USD) on Friday, extending its losing streak for the fifth trading day.

The EUR/USD pair remains on the back foot through the Asian session on Friday and currently trades around the 1.1680-1.1675 region, just above a nearly two-week low touched the previous day.

The NZD/USD pair is seen extending this week's retracement slide from the 0.5925-0.5930 horizontal barrier and drifting lower for the second straight day on Friday.

USD/CHF extends its winning streak for the fourth successive day, trading around 0.7870 during the Asian hours on Friday. The pair gains ground as the US Dollar (USD) receives support from safe-haven demand amid persistent uncertainty surrounding the United States (US)–Iran conflict.

EUR/JPY inches higher after three days of gains, trading around 186.60 during Asian hours on Friday. The technical analysis of the daily chart indicates the currency cross is positioned slightly below the ascending channel, signaling potential for a bearish reversal.

USD/CAD remains flat following a three-day winning streak, trading around 1.3700 during the Asian hours on Friday. The pair steadies as the US Dollar (USD) maintains its position as safe-haven demand increases amid persistent uncertainty surrounding the United States (US)–Iran conflict.

The USD/JPY pair sticks to its positive bias for the fifth straight day and trades around the 159.80 area, or a nearly two-week top during the Asian session on Friday.

The GBP/USD pair enters a bearish consolidation phase and trades around the 1.3465 region during the Asian session on Friday, just above a nearly two-week low set the previous day.