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WTI crude oil stabilizes after explosive rally as traders brace for possible U.S. military action against Iran. Momentum stalls, but volatility remains high.
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Gold pulls back but stays strong, consolidating within its bullish zone as safe-haven demand stays firm.
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USDCHF holds steady post-SNB rate cut, carving out a potential bullish setup—though risks still linger in the short-term.
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EUR/USD holds losses below 1.1700 amid firmer US Dollar
EUR/USD stays under pressure below 1.1700 in the European session on Friday. The pair is weighed by fading EU-US trade deal hopes as US President Trump is set to send a tariff letter to the European Union later in the day. Sustained haven demand for the US Dollar adds to EUR/USD's downside.
Meme coins to watch as Bitcoin hits record high
Meme coins Bonk, Dogwifhat, and Floki are positioned to extend gains as the weekly recovery reaches crucial resistance levels. The meme coins gain bullish momentum on the back of Bitcoin’s (BTC) recovery run, hitting a new all-time high on Thursday.
Gold price flirts with weekly top near $3,340 amid sustained safe-haven buying
Gold price attracts some follow-through buying for the third straight day on Friday and climbs to the top end of its weekly range in the European session. In a dramatic escalation of the trade war, US President Donald Trump this week issued notices to a slew of trading partners and raised concerns about a global trade war.
Unemployment rate set to rise in Canada, reinforcing expectations of a BoC rate cut
Consensus among market participants projects a slight rise in Canada’s Unemployment Rate to 7.1% in June, up from 7.0% in May. Additionally, investors forecast the economy will add no jobs in the same month, reversing May’s 8.8K increase.
GBP/USD keeps the red near 1.3550 after UK data
GBP/USD keeps losses near 1.3550 in European trading on Friday. The pair faces headwinds from an unexpected UK economic contraction in May. Additionally, a broadly firmer US Dollar on rising trade tensions continues to undermine GBP/USD.
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