USD/CHF rebounds after registering modest losses in the previous day, trading around 0.7960 during the European hours on Friday. The technical analysis of the daily chart indicates the pair is remaining within the ascending channel pattern, signaling an ongoing bullish bias.

The Euro (EUR) is trading moderately lower against the US Dollar (USD) on Friday, changing hands at 1.1565 at the time of writing, down from the weekly highs, at 1.1590 hit on Thursday.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/JPY’s brief spike to 160.69 followed by a drop to 159.64 has left the intraday outlook mixed, with trading expected between 159.70 and 160.40.

The NZD/USD pair attracts some sellers to around 0.5820 during the early European trading hours on Friday. The US Dollar (USD) edges higher against the New Zealand Dollar (NZD) on hot US Producer Price Index (PPI) inflation data.

France Consumer Price Index (EU norm) (YoY) in line with expectations (2.8%) in May

France Consumer Price Index (EU norm) (MoM) in line with forecasts (0.1%) in May

The British Pound (GBP) attracts slight bids against its major currency peers after the release of the United Kingdom (UK) monthly Gross Domestic Product (GDP) data for April. The GBP/USD claws back a majority of its early losses and rebounds to near 1.3410.

Commerzbank’s Thu Lan Nguyen notes the European Central Bank sounded slightly hawkish, but investors already price in two further hikes, leaving the Euro softer after President Lagarde avoided clear guidance.

The USD/CAD pair gains traction to near 1.3980 during the early European trading hours on Friday, bolstered by hot US inflation data. Traders will closely monitor the developments surrounding the US-Iran peace deal.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann observe that GBP/USD’s surge to 1.3434 has stretched short-term conditions, but further gains toward a retest of 1.3435 remain possible, with 1.3465 unlikely to break.

Germany Harmonized Index of Consumer Prices (YoY) in line with expectations (2.7%) in May

Germany Consumer Price Index (MoM) in line with forecasts (-0.2%) in May

Germany Consumer Price Index (YoY) in line with expectations (2.6%) in May

Germany Harmonized Index of Consumer Prices (MoM) meets expectations (-0.1%) in May

The AUD/USD pair is down 0.22% to near 0.7035 in the early European trade on Friday.

XAG/USD edges lower after registering over 6% gains in the previous day, trading around $67.00 per troy ounce during the Asian hours on Friday. The technical analysis of the daily chart shows a falling wedge pattern, which suggests a strong bullish reversal.

The Indian Rupee (INR) opens sharply higher against the US Dollar (USD) on Friday.

The AUD/JPY cross trades in positive territory around 112.80 during the early European trading hours on Friday. The Australian Dollar (AUD) strengthens against the Japanese Yen (JPY) on hopes that a Middle East peace deal may finally materialize. 

The USD/JPY pair attracts fresh buyers during the Asian session on Friday and moves away from a one-week low, touched the previous day.

The EUR/USD pair trades marginally lower at around 1.1567 during the European trading session on Friday. The major currency pair edges down as the US Dollar (USD) rebounds slightly after Thursday’s decline.

USD/CHF gains ground after registering over 0.5% losses in the previous day, trading around 0.7960 during the Asian hours on Friday.

EUR/JPY appreciates after registering minor losses in the previous day, trading around 185.40 during the Asian hours on Friday. The currency cross is holding a constructive bullish bias as spot remains above both the nine-day and 50-day Exponential Moving Averages (EMAs).

Silver price (XAG/USD) depreciates after registering over 6% gains in the previous day, trading around $67.00 per troy ounce during the Asian hours on Friday. The white metal faces downward pressure following fresh military friction in the Middle East, which tempered recent diplomatic optimism.

The NZD/USD pair meets with a fresh supply during the Asian session on Friday and erodes a part of the previous day's solid recovery gains from over a two-month low.

USD/CAD extends its gains for the second successive day, trading around 1.3980 during the Asian hours on Friday. However, the upside for the USD/CAD pair may face notable resistance as a sudden easing of geopolitical risk could sideline the US Dollar (USD).

On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.8109 compared to the previous day's fix of 6.8150 and 6.7640 Reuters estimate.

The GBP/USD pair struggles to capitalize on the previous day's sharp intraday rally of over 100-pips and edges lower during the Asian session on Friday.

The EUR/USD pair gathers strength to around 1.1575 during the early Asian trading hours on Friday. The Euro (EUR) edges higher against the US Dollar (USD) on the European Central Bank (ECB) interest rate hike and improved risk sentiment.

The Pound Sterling ended Thursday’s session almost flat at around 214.70 as market sentiment fluctuated but ultimately improved after US President Donald Trump cancelled attacks and hinted at a possible deal in place. The GBP/JPY traded with gains of almost 0.04%.

The British Pound spent most of Thursday doing what everything else did, leaking lower while Washington and Tehran traded fire, then exploding higher when President Trump canceled the evening's planned strikes just after 17:30 GMT and declared a deal all but done.