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EUR/USD trades marginally lower on the day but manages to hold above 1.1550 in the American session, following Thursday's rebound. The pair edges down as the US Dollar rebounds slightly as investors cling to a cautious stance amid mixed headlines surrounding the conflict in the Middle East.
GBP/USD remains near its daily open, not far from 1.3400, in the second half of Friday's session. The US Dollar lost its previous intraday strength and weakens as investors await clarity on the US-Iran war.
After rising more than 3% on Thursday, Gold (XAU/USD) stabilized around the $4,200 mark in the American session on Friday. The US dollar seesaws between gains and losses, but remains within familiar levels as investors remain skeptical yet hopeful about a resolution to the Middle East conflict.
The cryptocurrency remains in a broader corrective bias on Friday, despite majors such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) holding slightly higher than early-week support levels.
More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.
May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.
