Relatively Calm Friday Calendar [Video]

Dukascopy Bank Team Dukascopy Bank SA

News flow has slowed down towards the end of this trading week, so let's take a closer look.
A high importance speech in Frankfurt by the European Central Bank President Mario Draghi opens this agenda at 8:30 in the morning.
Final Euro Consumer Price Index for October will then be available at 10 AM. According to flash report, annual inflation accelerated to 2.2% from September's level of 2.1%. We then head over the Atlantic, where Canadian Manufacturing Sales for September will be published at 1:30 PM GMT. Sales were down by point 4% in August after rising for three consecutive months. US Industrial Production stats for October are out at a quarter past 2 PM. Production accelerated by point 3% in September and this was the fourth increase in a row. US Treasury International Capital Data for September wraps up this rather short agenda at 9 PM GMT. Taking into account transactions in both foreign and US securities, net foreign purchases of long-term securities were almost 132 billion US Dollars in August. This comes as a sharp rise from July's level of less than 67 billion.

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Dukascopy Bank Team

Dukascopy Bank SA

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EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.