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Canada Retail Sales ex Autos (MoM) came in at 1.7%, above forecasts (1.2%) in November
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EUR/USD is edging lower on Friday, giving back part of Thursday’s sharp rebound and drifting back toward the 1.1740 area amid the lack of clear direction around the US Dollar, which remains apathetic following the lower-than-expected results from flash PMIs in January.
GBP/USD is building on its solid weekly advance and is pushing toward the 1.3530 area, or two-week highs, on the back of a modest retracement in the Greenback. In the meantime, strong UK retail sales figures and upbeat preliminary PMIs are reinforcing Cable’s gains as Friday’s session unfolds.
Gold prices surged to a fresh record near $4,970 per troy ounce earlier on Friday, keeping the door open for a potential test of the $5,000 mark sooner rather than later. Mixed price action in the US Dollar, alongside falling Treasury yields across the curve, is underpinning the precious metal’s rally into the end of the week.
UBS Group AG plans to offer crypto investment services to select private clients. The offering will allow clients of its private bank in Switzerland to buy and sell Bitcoin and Ethereum.
Fed to likely go on pause after three straight cuts. BoC is also expected to stand pat. But will Trump steal the limelight by revealing his Fed chair nomination?
Bitcoin price struggles below $90,000 on Friday, correcting nearly 5% so far this week. Trump’s Davos speech on Wednesday, backing away from imposing further tariffs on the EU, triggered market volatility and risk-on mood.
