ECB’s Vujčić: Central bank unlikely to accelerate rate cuts

EUR/USD trades in a tigh channel above 1.1600 on Friday but remains on track to end the week in positive territory. The softer risk tone helps the US Dollar find a foot hold and caps the pair's upside as investors await comments from Federal Reserve officials.

GBP/USD recovers slightly but still trades deep in the red near 1.3150 on Friday. The pair declines as the Pound Sterling faces headwinds from rising concerns over fiscal discipline and political stability in the UK. Late Thursday,  PM Starmer and Finance Minister Reeves reportedly dropped the plan to raise income tax rates. 

Gold stays under persistent bearish pressure and falls toward $4,100 on Friday, losing more than 1% on a daily basis. Easing expectations about a Federal Reserve (Fed) rate cut in December seems to be weighing on XAU/USD as markets await clarity on US data backlog.

Bitcoin, Ethereum and Ripple trade in red on Friday after correcting more than 5%, 10% and 2%, respectively, so far this week. BTC has slipped below the $100,000 key level, while ETH and XRP have faced rejection at their resistance levels, signaling that bears remain firmly in control and that a deeper correction may be underway.

The Bank of Japan once again finds itself walking a tightrope between political pressure, economic data, and market expectations. With interest rates still anchored at 0.5%, speculation is growing over when Governor Ueda will pull the trigger on the next hike.

Solana (SOL) marks the third consecutive week of losses, dropping over 13% so far this week. The two-week-old Solana spot Exchange Traded Funds (ETFs) in the US have recorded the lowest net inflows ever, suggesting softer institutional demand.