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Silver price forecast: XAG/USD stays above $38.00 on Fed rate cut bets, tariff concerns

Silver price (XAG/USD) extends its gains for the second successive session, trading around $38.20 per troy ounce during the Asian hours on Friday. The non-interest-bearing Silver attracts buyers amid rising odds of a rate cut by the Federal Reserve (Fed) in September.

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GBP/USD softens to below 1.3450 on renewed US Dollar demand

The GBP/USD pair posts modest losses near 1.3440 during the Asian trading hours on Friday.

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EUR/USD steadies around 1.1650 amid Fed rate cut expectations, ECB policy pause

EUR/USD remains steady after registering gains in the previous three successive sessions, trading around 1.1660 during the Asian hours on Friday.

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Japanese Yen drifts lower against rebounding USD; downside potential seems limited

The Japanese Yen (JPY) attracts some intraday sellers after the Summary of Opinions from the Bank of Japan's (BoJ) July meeting showed that policymakers remain worried about the potential negative impact of higher US tariffs on the domestic economy.

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Australian Dollar weakens as RBA rate cut expectations rise

The Australian Dollar (AUD) depreciates against the US Dollar (USD) on Friday, after three days of gains.

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US Dollar Index holds positive ground above 98.00 on report Waller favored to Chiar Fed

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, edges higher to around 98.15, snapping the two-day losing streak during the Asian trading hours on Friday.

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NZD/USD trades with mild losses to near 0.5950 on modest US Dollar strength

The NZD/USD pair trades with mild losses near 0.5960 during the early Asian trading hours on Friday. However, the potential downside for the pair might be limited amid encouraging Chinese trade data.

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PBOC sets USD/CNY reference rate at 7.1382 vs. 7.1345 previous

On Friday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1382 as compared to the previous day's fix of 7.1345 and 7.1742 Reuters estimate.

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Japan's Akazawa sees US to repay accumulated taxes later

Japanese trade envoy Ryosei Akazawa said on Friday that the United States (US) has agreed to correct a presidential order on tariffs and refund any excess duties collected in error. Akazawa added that there was no disagreement between the US and Japan over reciprocal tariffs.

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BoJ Summary of Opinions: Member says uncertainty surrounding trade policy and impact remains large

The Bank of Japan (BoJ) published the Summary of Opinions from the July monetary policy meeting, with the key findings noted below.   

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WTI extends the decline to below $63.50 on potential US-Russia meeting

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.20 during the early Asian trading hours on Friday. The WTI remains on the defensive amid potential US-Russia talks, raising expectations for a diplomatic end to the war in Ukraine.

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GBP/USD: Greenback weakens and BoE rate cut bets decline

GBP/USD extended recent bullish momentum on Thursday, gaining over two-thirds of one percent on the day and climbing above key technical indicators as market rebalance both a weaker US Dollar (USD) and a stronger Pound Sterling (GBP).

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US imposes tariffs on one-kilo gold bars -- FT 

The United States (US) has slapped tariffs on imports of one-kilo gold bars in a blow to refining hub Switzerland, the world's largest refining hub, the Financial Times reported late Thursday. 

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USD/CAD weakens to below 1.3750, Canadian jobs report in focus

The USD/CAD pair trades in negative territory around 1.3735 during the early Asian session on Friday. The Greenback edges lower against the Canadian Dollar (CAD) as traders boost bets that the US Federal Reserve (Fed) will cut rates in September after weak US Nonfarm Payrolls (NFP) data.

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EUR/USD flat as Waller rumored to be Trump's pick for Fed Chair

The EUR/USD turned flat late on Thursday, spurred by rumors that the White House is considering Federal Reserve Governor Christopher Waller as the top candidate to be the next Fed Chair, succeeding Jerome Powell.

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Donald Trump taps CEA Chair Stephen Miran for seat on Fed board

United States (US) President Donald Trump announced on Thursday that he would be selecting Stephen Miran, the current Chair of the US Council of Economic Advisors, to replace recently resigned Federal Reserve (Fed) Board of Governors (BoG) member Adriana Kugler.

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Canadian Dollar runs out of steam as US Dollar bids rebound

The Canadian Dollar (CAD) eased off the gas pedal on Thursday, slowing a near-term bull run and snapping a four-day winning streak against the US Dollar (USD) as Greenback bidding bumped upwards.

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Banxico cut rates as expected to 7.75%

On Thursday, Banco de Mexico (Banxico) decided to reduce interest rates by 25 basis points as expected by most analysts. Story in development, more to come...

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Forex Today: Markets will focus on US tariffs and the Canadian jobs report

The US Dollar (USD) traded with decent gains, reversing part of Wednesday's retracement, as market participants continued to closely follow any developments from the trade front as well as Trump's plans to replace Chair Powell.

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Gold rallies as weak US jobs data, tariffs stoke stagflation fears

Gold price reverses its course and registers solid gains on Thursday as the latest round of jobs data in the United States (US) points to a weakening labor market. Consequently, investors increased their dovish bets as the Federal Reserve (Fed) is expected to resume its easing cycle in September.

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