Trading news

Gold (XAU/USD) is trading higher on Friday as news about United States (US) President Donald Trump’s passage of the “Big, Beautiful, Bill” filters through markets. With markets closed in the US in celebration of Independence Day, XAU/USD is trading above $3,330 at the time of writing.

The US Dollar (USD) eases on Friday, drifting lower in holiday-thinned trading and snapping a two-day winning streak.

The Japanese Yen (JPY) is strong, up 0.4% against the US Dollar (USD) and outperforming all of the G10 currencies into Friday’s NA open, supported by sentiment in an environment of mild risk aversion, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Pound Sterling (GBP) is quietly consolidating in a tight range and entering Friday’s NA session unchanged the against US Dollar (USD), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Gold price (XAU/USD) trades well inside Thursday’s trading range around $3,335 during European trading hours on Friday.

The Euro (EUR) is up a modest 0.2% against the US Dollar (USD) and entering Friday’s NA session with renewed support as it climbs back toward the upper end of this week’s range and pushes toward Tuesday’s fresh multi-year high, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Canadian Dollar (CAD) has shed a little ground on the day but is trading more or less unchanged on the session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Markets are adopting a risk-off approach ahead of the weekend. The US Dollar (USD) is narrowly mixed against the core majors but the JPY and CHF are outperforming on the day while high beta FX is tending to underperform, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Mexico Consumer Confidence down to 45.7 in June from previous 46.5

Mexico Consumer Confidence s.a dipped from previous 46.7 to 45.4 in June

India FX Reserves, USD climbed from previous $697.94B to $702.78B in June 23

The US Dollar Index (DXY), which measures the value of the Dollar against the world’s six most traded currencies, is retreating from Thursday’s highs at 97.40, and back to levels below the 97.00 level, as the euphoria from the strong payrolls report turned into caution as the tariffs deadline approa

USD is likely to consolidate between 7.1600 and 7.1750. In the longer run, the current price movements are likely part of a range trading phase between 7.1550 and 7.1850, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/JPY is holding under key resistance at 145.00, BBH FX analysts report.

Instead of continuing to rise, US Dollar (USD) is more likely to trade in a range of 144.15/145.25 against Japanese Yen (JPY). In the longer run, USD has likely entered a range trading phase, probably between 143.50 and 145.95, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

No new inflation data was released in Japan this week. However, two surveys were published, the Tankan and the consumer confidence survey, which also asked about inflation expectations (and the development of sales prices).

New Zealand Dollar (NZD) is expected to trade in a range of 0.6055/0.6095 against US Dollar (USD). In the longer run, upward momentum has largely faded; NZD is likely to trade in a range between 0.6035 and 0.6130, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

However, when the markets reopen on Monday after today's Independence Day in the US, the labour market is likely to be long forgotten. Last night, Donald Trump scored another victory: Congress finally approved his Big Beautiful Bill, which he is expected to sign today.

Talks between the US and China have resulted in a truce but the situation remains fragile, Rabobank's Senior Macro Strategist Teeuwe Mevissen reports.

The US Dollar is failing to take any significant distance from year-to-date lows and remains capped below 1.3600 on Friday, unfazed by the strong US Nonfarm Payrolls report and the dwindling hopes of Fed cuts in July.The Greenback ticked up on Thursday after the NFP report showed a larger-than-expec