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ECB's Kazaks: There's no urgent need to adjust rates

The European Central Bank (ECB) Governing Council member Martins Kazaks said on Friday that there's little reason for the central bank to lower interest rates further unless the economy suffers a major blow, per Bloomberg. 

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Forex Today: US Dollar shakes off bearish pressure ahead of mid-tier data

Here is what you need to know on Friday, July 25:

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GBP/JPY falls below 198.50 as UK Retail Sales rise below market expectations

GBP/JPY continues to lose ground for the second successive day, trading around 198.30 during the Asian hours on Friday. The currency cross depreciates as the Pound Sterling (GBP) struggles following the key economic data from the United Kingdom (UK).

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EUR/GBP remains firm above 0.8700 on downbeat UK Retail Sales data

The EUR/GBP cross remains firm around 0.8705 during the early European session on Friday.  The Pound Sterling (GBP) weakens against the Euro (EUR) after the weaker-than-expected UK economic data. The IFO business sentiment index report from Germany will be released later on Friday. 

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Crude oil price today: WTI price bullish at European opening

West Texas Intermediate (WTI) Oil price advances on Friday, early in the European session. WTI trades at $66.26 per barrel, up from Thursday's close at $65.95.Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $68.56 price posted on Thursday, and trading at $68.89.

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UK Retail Sales rebound 0.9% MoM in June vs. 1.2% expected

The United Kingdom (UK) Retail Sales jumped 0.9% month-over-month (MoM) in June after declining 2.8% in May (revised from -2.7%), according to the latest data published by the Office for National Statistics (ONS) on Friday.

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WTI climbs above $66.00 as trade talk optimism outweighs concerns over oil oversupply

West Texas Intermediate (WTI) Oil price extends its gains for the second successive session, trading around $66.30 per barrel during the Asian hours on Friday. Crude Oil prices receive support on optimism surrounding trade talks, which bolstered the outlook for the global economy and Oil demand.

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FX option expiries for Jul 25 NY cut

FX option expiries for Jul 25 NY cut at 10:00 Eastern Time via DTCC can be found below.

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USD/CAD extends recovery to near 1.3670 as US Dollar gains ground

The USD/CAD pair trades 0.25% higher to near 1.3670 at the start of the European trading session on Friday.

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USD/CHF edges higher to above 0.7950 on modest US dollar strength

The USD/CHF pair trades on a positive note around 0.7965 during the early European session on Friday. Optimism surrounding US trade deals provides some support to the Greenback. However, the upside for the pair might be limited as markets might turn cautious ahead of crucial events next week. 

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USD/INR refreshes monthly high as consistent FIIs selling pushes Rupee on backfoot

The Indian Rupee (INR) extends its losing streak for the seventh trading day against the US Dollar (USD) on Friday. The USD/INR pair posts a fresh monthly high near 86.70 as the Indian Rupee continues to face selling pressure due to consistent outflow of foreign funds from domestic capital markets.

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AUD/JPY Price Forecast: Remains below 97.00, support appears at nine-day EMA

AUD/JPY edges lower after two days of losses, trading around 96.90 during the Asian hours on Friday. The technical analysis of the daily chart shows that the currency cross remains within the ascending channel pattern, suggesting a prevailing bullish bias.

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EUR/USD remains depressed below mid-1.1700s amid trade concerns, stronger USD

The EUR/USD pair ticks lower for the second consecutive day on Friday and moves away from a nearly three-week top touched the previous day. Spot prices, however, lack follow-through selling and currently trade around the 1.1740 region, down less than 0.10% for the day.

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India Gold price today: Gold falls, according to FXStreet data

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

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GBP/USD softens to below 1.3500 ahead of UK Retail Sales release

The GBP/USD pair extends the decline to near 1.3490 during the Asian trading hours on Friday, pressured by renewed US Dollar (USD) demand. Traders prefer to wait on the sidelines ahead of US President Donald Trump's tariff deadline and the Federal Reserve (Fed) policy meeting next week.

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Silver Price Forecast: XAG/USD remains subdued near $39.00 amid dampened safe-haven demand

Silver price (XAG/USD) remains subdued for the third consecutive day, trading around $39.00 per troy ounce during the Asian hours on Friday. The price for the Silver faces challenges amid easing trade tensions and rising risk appetite.

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Gold price drifts lower amid a broadly stronger USD; remains close to weekly through

Gold price (XAU/USD) struggles to capitalize on the overnight bounce from the vicinity of mid-$3,300s and trades with a mild negative bias during the Asian session on Friday.

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US President Donald Trump is shifting to dealmaking mode on China - WSJ

According to the Wall Street Journal (WSJ) on Friday, US President Donald Trump is now pursuing dealmaking with China.

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EUR/JPY holds gains above 173.00 following Tokyo CPI data

EUR/JPY extends its winning streak for the seventh successive session, trading around 173.10 during the Asian hours on Friday. The currency cross appreciates as the Japanese Yen (JPY) faces challenges following the release of Tokyo Consumer Price Index (CPI) data.

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Japanese Yen retreats further from two-week high against USD on softer Tokyo CPI

The Japanese Yen (JPY) drifts lower for the second straight day against its American counterpart and retreats further from a two-week high touched the previous day. Data released earlier this Friday showed that consumer inflation in Japan's capital city, Tokyo, slowed more than expected in July.

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