Societe Generale’s Kenneth Broux and colleagues note Brent has fallen below $90 per barrel after US-Iran deal hopes and President Trump’s cancelled strikes. Their technical view highlights a sustained downtrend after losing the 50-DMA and breaking an ascending trend line.

European Central Bank (ECB) Governing Council member and Governor of the Central Bank of Ireland, Gabriel Makhlouf, said during the European trade on Friday that the central bank needs to act quickly before inflation starts accelerating further.

Turkey Current Account Balance: $-5.695B (April) vs $-9.672B

Spain Consumer Price Index (MoM) meets forecasts (0.1%) in May

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

Spain Harmonized Index of Consumer Prices (YoY) meets forecasts (3.6%) in May

Spain Consumer Price Index (YoY) meets forecasts (3.2%) in May

ING analysts Warren Patterson and Ewa Manthey say Brent has fallen below $90/bbl on renewed hopes for a ceasefire and resumption of energy flows through the Strait of Hormuz.

France Inflation ex-tobacco (MoM) fell from previous 1% to 0.1% in May

According to Danske Research Team, global equities rallied strongly as investors reacted to signs of a potential US‑Iran peace agreement that could reopen the Strait of Hormuz and curb nuclear ambitions.

EUR/GBP inches lower after two days of gains, trading around 0.8630 during the Asian hours on Friday. The currency cross remains subdued following the release of economic data from the United Kingdom (UK) and Germany.

German revised Harmonized Index of Consumer Prices (HICP) data for May has arrived at 2.7% Year-on-Year (YoY), as expected. On a monthly basis, the HICP growth declined by 0.1%.

United Kingdom Total Trade Balance rose from previous £-9.658B to £-8.435B in April

The UK Gross Domestic Product (GDP) contracted by 0.1% MoM in April, following a 0.3% rise reported in March, the latest data published by the Office for National Statistics (ONS) showed on Friday.

United Kingdom Index of Services (3M/3M) in line with expectations (0.8%) in April

United Kingdom Trade Balance; non-EU rose from previous £-15.195B to £-13.05B in April

United Kingdom Goods Trade Balance registered at £-26.05B, below expectations (£-22.5B) in April

United Kingdom Industrial Production (YoY) below forecasts (-0.1%) in April: Actual (-0.2%)

United Kingdom Gross Domestic Product (MoM) meets forecasts (-0.1%) in April

United Kingdom Manufacturing Production (YoY) above forecasts (0.4%) in April: Actual (1%)

United Kingdom Manufacturing Production (MoM) came in at 0.4%, above forecasts (-0.2%) in April

European Central Bank (ECB) Governing Council Member and President of the Deutsche Bundesbank, Joachim Nagel, said on Friday that the interest rate hike yesterday was necessary as high energy prices are increasingly having an indirect effect on other prices.

Asian equities advance on Friday as market sentiment improved on lower oil prices after US President Donald Trump indicated that a peace agreement with Iran could be finalized as early as this weekend.

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

A Reuters poll showed on Friday that 42 of 45 economists expect the Reserve Bank of Australia (RBA) to hold its Official Cash Rate (OCR) at 4.35% on June 16, pausing after three hikes.

Japan Industrial Production (YoY) fell from previous 2.3% to 2% in April

Japan Industrial Production (MoM) came in at 0.5%, below expectations (0.8%) in April

Japan Capacity Utilization climbed from previous -1.2% to -0.8% in April

USD/IDR extends its gains for the third consecutive day, trading around 17,950 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) receives support amid renewed risk aversion following fresh military friction in the Middle East, which tempered recent diplomatic optimism.

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.80 during the Asian trading hours on Friday. The DXY gathers strength amid uncertainty in the Middle East and a hot US inflation report.