USD/IDR continues its losing streak for the fourth successive day, trading around 17,990 during the Asian hours on Friday.

Gold prices rose in India on Friday, according to data compiled by FXStreet.

Asian stock markets face a sharp sell-off on the last trading day of the week, tracking seeking negative cues from United States (US) equity markets. US technology stocks fell sharply on Thursday as stocks of sophisticated chips extended their losses.

USD/CNH gains ground for the second successive day, trading around 6.7760 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) receives support from escalating developments surrounding conflicts in the Middle East.

US President Donald Trump is delivering a primetime address to the nation from the White House on Friday.

Japan’s Finance Minister Satsuki Katayama said on Friday that the authorities are ready to act on currency moves whenever necessary. 

The EUR/USD pair holds steady around 1.1445 during the early Asian session on Friday. Traders continue to digest the developments surrounding the Middle East conflicts. The preliminary reading of the Michigan Consumer Sentiment Index for July will be published later on Friday. 

Federal Reserve (Fed) Vice Chair Philip Jefferson said that the current policy stance should support the job market and allow inflation to resume decline toward 2% as tariff effects and energy prices pass through, Reuters reported on Thursday.

BNY’s Geoff Yu highlights a hawkish 25bp hike by the Bank of Korea (BoK) to 2.75%, with guidance that Gross Domestic Product (GDP) and core inflation will exceed earlier forecasts.

Brown Brothers Harriman’s (BBH) Elias Haddad notes the Korean Won (KRW) is outperforming, supported by a hawkish 25 bps Bank of Korea (BoK) hike to 2.75% and expectations that growth and core inflation will exceed 2026 projections.

MUFG’s Lloyd Chan notes that softer US inflation data has weakened the Dollar and lowered Fed rate hike expectations, but USD/THB has still broken above 33.50.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD downside momentum has intensified after a sharp intraday swing, with firm support highlighted at 1.2875 and 1.2860.

OCBC strategists Sim Moh Siong and Christopher Wong note that USD/CNY has extended its decline on softer United States (US) Consumer Price Index (CPI) and Producer Price Index (PPI), with firmer People's Bank of China (PBoC) fixings validating gradual RMB appreciation.

Standard Chartered analysts Christopher Graham and Carol Liao discuss how the European Union is seeking to rebalance its trade relationship with China without shutting the door on engagement.

United States 4-Week Bill Auction: 3.66% vs 3.63%

ING’s Carsten Brzeski argues that the European Central Bank is likely to keep rates unchanged next week but a surprise hike cannot be ruled out. He notes that renewed Middle East tensions and rising Oil prices have restored the macro backdrop seen before the June meeting.

Brown Brothers Harriman’s (BBH) Elias Haddad highlights that United Kingdom (UK) May Gross Domestic Product (GDP) slightly beat expectations, driven by services, but underlying details disappointed as production and construction contracted and growth relied on one subsector.

United States EIA Natural Gas Storage Change below forecasts (45B) in July 10: Actual (41B)

Rabobank’s Bas van Geffen says renewed US-Iran hostilities have shifted Eurozone inflation risks upward. June’s softer-than-expected flash estimate may buy the ECB time in July, but the earlier decline in energy prices has reversed, pointing to firmer inflation readings ahead.

United States Pending Home Sales (YoY) down to -0.3% in June from previous 4.8%

United States Business Inventories meets forecasts (0.3%) in May

United States NAHB Housing Market Index came in at 34, below expectations (35) in July

United States Pending Home Sales (MoM) registered at -5.4%, below expectations (-0.5%) in June

TD Securities reports United Kingdom (UK) Gross Domestic Product (GDP) grew 0.1% month-on-month in May, matching their forecast and beating the market’s flat expectation. Three‑month growth remains strong at 0.7%, with services and manufacturing outperforming.

Societe Generale’s Kiyong Seong reviews the Bank of Korea’s 25bp hike to 2.75%, noting a unanimously hawkish Monetary Policy Committee. The July statement is assessed as more hawkish than May, and Governor Shin’s comments keep the option of a consecutive hike at the 27 August meeting open.

“BNY’s Geoff Yu says tougher Western action against Chinese automakers could add pressure on Europe’s legacy manufacturers.

Russia Central Bank Reserves $ climbed from previous $721.7B to $722.4B

OCBC strategists Sim Moh Siong and Christopher Wong highlight that hopes of a fiscally conservative Chancellor under incoming United Kingdom (UK) Prime Minister Burnham have supported the British Pound (GBP) and gilts.

According to a report from the US Department of Labour (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance shrank to 208K for the week ending July 11.

Retail Sales in the United States (US) rose by 0.2% on a monthly basis in June to $768.6 billion, the US Census Bureau reported on Thursday. This print followed the 1% increase recorded in May and came in line with the market expectation. On a yearly basis, Retail Sales were up 6.7%.