The USD/CAD pair enters a bearish consolidation phase after touching a fresh low since March 11 during the Asian session on Friday, and currently trades around the 1.3575 region. Nevertheless, spot prices remain on track to register losses for the fourth straight week.

The AUD/USD pair drifts lower to near 0.7200 during the early Asian trading hours on Friday. Ongoing tensions in the Middle East continue to boost a safe-haven currency such as the US Dollar (USD) against the Aussie.

The USD/JPY pair is seen building on the previous day's late rebound from the vicinity of mid-155.00s, or over a two-month low, and gaining some positive traction during the Asian session on Friday.

NZD/USD pulls back after registering over 1.25% gains in the previous day, trading around 0.5900 during the Asian hours on Friday. The pair depreciates as the New Zealand Dollar (NZD) remains subdued following the release of weaker mid-tier economic data from the country.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Friday at 6.8628 compared to the previous day's fix of 6.8608.

The EUR/USD pair attracts some buyers to around 1.1730 during the early Asian session on Friday. The Euro (EUR) strengthens against the US Dollar (USD) after the European Central Bank (ECB) kept interest rates on hold at its April meeting. 

GBP/USD rallied 0.96% on Thursday, settling near 1.3600 after a choppy session that saw cable test the 1.3455 area in the European morning before catching a sharp bid through the New York afternoon.

USD/JPY plunged 2.25% on Thursday after a violent intraday reversal that wiped roughly 500 pips off the pair in just a few hours.

The Australian Dollar reclaimed the 0.7200 level on Thursday, surging more than 1% as the Greenback dropped to seven-day lows amid Japanese authorities’ intervention in the FX markets, pushing aside solid US economic data. The AUD/USD trades past 0.7200 after hitting a daily low of 0.7110.

The Euro (EUR) edges higher against the US Dollar (USD) on Tuesday as the Greenback softens broadly following possible intervention from Tokyo, with authorities seen selling Dollars to support the Japanese Yen (JPY), while the Euro also draws some support from the latest monetary policy decision by

The GBP/USD advanced by some 0.78% on Thursday as market participants continued to price in further tightening by the Bank of England, even though it kept rates steady earlier. At the time of writing, trades at 1.3581, as a technical ‘bullish engulfing’ chart pattern, looms.

USD/CAD trades on the back foot on Thursday as renewed weakness in the US Dollar (USD) supports the Canadian Dollar (CAD), while the latest US economic data fails to provide support to the Greenback. At the time of writing, the pair is trading around 1.3612, down nearly 0.53% on the day.

The EUR/GBP falls some 0.16% during the day as the central bank bonanza ends with the ECB and the BoE keeping interest rates unchanged as expected. The cross-pair trades at around 0.8644 after reaching a daily high of 0.8667.

The AUD/USD recovers toward the 0.7190 price region on Thursday, erasing Wednesday's losses, as the Australian Dollar (AUD) benefits from data showing a resilient Chinese economy and a weaker US Dollar (USD).

USD/JPY shows signs of stabilizing after a sharp intraday slump triggered by intervention warnings from Tokyo, which sent the Japanese Yen soaring across the board.

The GBP/USD pair surges 0.6% on Thursday, trading at around 1.3550 level, after the Bank of England (BoE) left interest rates unchanged at 3.75% with an 8-1 vote and amid lower-than-expected GDP growth in the US.

Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is edging higher as the softer US Dollar (USD) and a narrower 1Y US/Canada swap spread support the currency. The Bank of Canada (BoC) left policy unchanged, highlighting offsetting risks from Oil and trade.

EUR/USD trades around 1.1690 on Thursday at the time of writing, up 0.11% on the day, after hitting a three-week low at 1.1655 earlier in the day.

EUR/JPY declines and trades around 186.60 at the time of writing, after hitting two-week highs above 187.50, amid mixed pressures from European monetary policy and rising intervention risks in Japan.

The Australian Dollar (AUD) reflects a mixed performance against its major currency peers, trading 0.5% higher to near 0.7150 against the US Dollar (USD) during the early North American session on Thursday.

The Euro (EUR) shows marginal losses against the British Pound (GBP) on Thursday but remains trading within the last few days’ range around 0.8660, lacking any clear bias.

USD/JPY drops sharply on Thursday, falling more than 2% as the Japanese Yen (JPY) strengthens broadly following fresh verbal intervention from Tokyo.

GBP/JPY trades around 211.90 on Thursday at the time of writing, down 1.97% on the day, pressured by a combination of Pound Sterling (GBP) weakness and Japanese Yen (JPY) strength.

The Pound Sterling (GBP) faces selling pressure, prima facie, after the Bank of England’s (BoE) monetary policy announcement. As expected, the BoE has left interest rates unchanged at 3.75%, with an 8-1 majority. This is the third straight meeting that the BoE has maintained the status quo.

USD/CAD trades around 1.3655 on Thursday, down 0.21% on the day, after stabilizing in the previous day. The pair faces short-term pressure due to a modest pullback in the US Dollar, although downside momentum may remain limited in an uncertain macro environment.

MUFG’s Lee Hardman highlights that EUR/USD has slipped back below 1.1700 as the Euro corrects lower into the ECB meeting.

The Euro (EUR) has pulled back form two week highs above 187.50 against the Japanese Yen (JPY) on Thursday, retreating to 186.20 at the time of writing, as Japanese Finance Minister Satsuki Katayama launched a clear intervention warning.

NZD/USD gains ground after two days of losses, trading around 0.5840 during the European hours on Thursday. The technical analysis of the daily chart signals an emerging bearish bias as the pair remains below the ascending channel.

USD/JPY trades around 159.50 on Thursday, down 0.59% on the day, after reaching its highest level since July 2024 at 160.73 earlier in the day.

Eurozone Core Harmonized Index of Consumer Prices (MoM): 0.9% (April) vs 0.8%