Nordea’s Jan von Gerich expects the European Central Bank to leave policy rates unchanged at the July meeting, describing it as a pause rather than a shift in stance. Lower-than-expected June inflation and volatile Middle East developments reduce urgency for an immediate move.

Standard Chartered’s Dan Pan assesses new United States (US) Section 301 tariffs on Brazilian exports, noting a 25% levy effective 22 July that could rise to 37.5%.

Wells Fargo Economics, led by Tom Porcelli and colleagues, expects the Federal Reserve to keep the fed funds rate at 3.50%-3.75% through year-end 2027, with 10-year Treasury yields near 4.35% in 2026 and 4.30% in 2027.

Eurozone Current Account n.s.a dipped from previous €14.9B to €-6.2B in May

Eurozone Current Account s.a came in at €25.1B, above forecasts (€18.1B) in May

Commerzbank economists led by Dr. Marco Wagner and Dr. Jörg Krämer expect the European Central Bank (ECB) to leave rates unchanged in July but still deliver a further 25 bps hike in September.

United Overseas Bank (UOB) strategists Quek Ser Leang and Christopher Wong report EUR/USD has eased after Wednesday’s surge, with current price action seen as consolidation between 1.1420 and 1.1465.

Austria HICP (MoM) in line with forecasts (-0.3%) in June

Deutsche Bank’s Early Morning Reid describes a broad slump in global equities driven by renewed doubts over the AI trade. The S&P 500 fell 0.51% with futures down further, while the Nikkei, CSI 300 and Hang Seng posted sharp declines.

EUR/CAD remains flat after experiencing volatility, trading around 1.6070 during the early European hours on Friday. The currency cross may experience downward pressure due to potential weakness in the Euro (EUR).

Austria HICP (YoY) dipped from previous 3.7% to 3.2% in June

Austria HICP (MoM) came in at 0%, above expectations (-0.3%) in June

United Overseas Bank (UOB) strategists Quek Ser Leang and Christopher Wong note GBP/USD has corrected sharply from recent highs near 1.3556 but now looks set to consolidate between 1.3450 and 1.3520 intraday.

Japan’s Finance Minister Satsuki Katayama said on Friday that there’s no change to the government's stance that specific monetary policy means it's up to the Bank of Japan (BoJ) to decide. 

GBP/USD extends its losses for the second successive day, trading around 1.3460 during the Asian hours on Friday.

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%