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EUR/GBP steady near 0.8650 as UK GDP stalls, BoE decision looms
The Euro (EUR) trades with a mild positive tone against the British Pound (GBP) on Friday, with EUR/GBP paring earlier gains after failing to sustain momentum above 0.8660.
Japan to restrict exports to some entities in China, Turkey over sanctions against Russia
Japan's Trade Ministry announced on Friday that the country will impose additional export restrictions on several foreign entities as part of sanctions against Russia's invasion of Ukraine.
Gold consolidates below $3,650 amid safe-haven demand, rate cut bets
Gold (XAU/USD) is trading with a mild positive tone on Friday, consolidating near $3,650 mark after rebounding from Thursday's pullback. The precious metal remains stuck in a narrow range after notching an all-time high near $3,675 earlier this week.
USD/CAD holds gains near 1.3850 ahead of Michigan Consumer Sentiment Index
USD/CAD edges higher after registering gains of around a quarter of a percent in the previous session, trading around 1.3840 during the Asian hours on Friday.
Silver Price Forecast: XAG/USD taps $42.00 for the first time since September 2011
Silver (XAG/USD) rallies to a fresh high since September 2011 during the Asian session on Friday, with bulls looking to build on the momentum beyond the $42.00 round figure.
WTI jumps to near $63 as EU plans to block Russian Oil imports
West Texas Intermediate (WTI), futures on NYMEX, trades 1.6% higher to near $63.00 during the late European trading session on Friday.
EUR is unchanged on the daily chart - Scotiabank
The Euro (EUR) is flat, trading unchanged from Thursday's close with overnight releases limited to as expected, final CPI figures from Germany and France.
CAD steady and outperforming on crosses - Scotiabank
The Canadian Dollar (CAD) is trading flat against the US Dollar (USD) and outperforming all of its G10 peers on the crosses, ending the week also unchanged from last Friday's close, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Silver Price Forecast: XAG/USD hits fresh long-term highs at $42.45
Silver's (XAG/USD) broke higher on Thursday and has reached a fresh 14-year high at $42.45, favoured by US Dollar weakness after US Jobless Claims and CPI data paved the path for a Fed rate cut next week.
USD ending week with broad gains - Scotiabank
The US Dollar (USD) is strengthening broadly--albeit modestly--into Friday's NA session and showing gains against all of the G10 currencies, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
Japanese Yen struggles amid political uncertainty and risk-on mood; downside seems limited
The Japanese Yen (JPY) struggles to capitalize on the overnight bounce from a three-day low against a broadly weaker US Dollar (USD) and ticks lower during the Asian session on Friday.
NZD/USD loses ground below 0.5900 on renewed US Dollar demand
The NZD/USD pair loses ground to near 0.5870 during the Asian trading hours on Friday. The pair edges lower on a modest rebound in the US Dollar (USD) and deflationary pressures in China.
USD/CHF languishes around 0.7960 with US Consumer Sentiment on focus
The US Dollar remains trading within a tight range, with upside attempts limited at 0.7980, following a rejection from the 0.8000 psychological area on Thursday. Higher Jobless Claims and moderate consumer inflation figures cemented hopes of Fed cuts and undermined speculative demand for the USD.
WPIC continues to see Platinum market as significantly undersupplied - Commerzbank
The World Platinum Investment Council has revised its forecast for the supply deficit in the Platinum market this year downwards to 850,000 ounces. The Platinum market is thus showing a considerable supply deficit for the third year in a row. Last year, demand exceeded supply by 968,000 ounces.
Michigan Consumer Sentiment Index expected to deteriorate further in September
The University of Michigan (UoM) is expected to release the preliminary figures of its monthly Consumer Confidence Index for September on Friday.
USD/CNH: Likely to trade in a range between 7.1080 and 7.1240 - UOB Group
US Dollar (USD) is likely to trade in a range between 7.1080 and 7.1240. In the longer run, room for USD to drop below 7.1100; any decline is likely to be slow, and 7.1000 may not come into view so soon, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
OPEC, by contrast, forecasts a supply deficit - Commerzbank
OPEC did not make any changes to its forecasts in its monthly report, Commerzbank's commodity analyst Carsten Fritsch notes.
USD/JPY: A narrower range of 146.20/148.50 may be enough to contain the price - UOB Group
US Dollar (USD) is likely to trade in a range of 146.75/147.65. In the longer run, a narrower range of 146.20/148.50 is likely enough to contain the price movements for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Underlying assumptions regarding supply are too optimistic - Commerzbank
Such a significant oversupply as anticipated by the IEA would exert considerable pressure on oil prices, like in 2020, which would have a negative impact on oil production, Commerzbank's commodity analyst Carsten Fritsch notes.
Australian Dollar climbs as prospects for a larger Fed rate cut increase
The Australian Dollar (AUD) advances against the US Dollar (USD) on Friday, extending its gains for the third successive session.
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