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FXStreet
Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
AUD/USD is off the lows but remains in the red above 0.7100 in Friday's Asian trading. Broad risk-aversion amid US-Iran uncertainty, combined with weak Australian GDP data, weighs heavily on the higher-yielding Australian Dollar. All eyes now remain on the US NFP report for fresh impetus.
USD/JPY sits glued near 160.00 in Asia on Friday, as the Japanese Yen remains supported by persistent 'Yentervention' threats by Japan's officials. However, the pair's downside remains capped by the Mideast tensions-led risk-off mood and the US Dollar's bullish consolidation.
Gold price attracts some sellers to near weekly low during the early European session. The precious metal remains volatile amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday.
The Reserve Bank of India decided to keep the repo rate unchanged at 5.25% after concluding the June monetary policy meeting on Friday. The decision aligned with the market expectations.
Bitcoin, Ethereum, and Ripple prices edge lower on Friday, extending a steady decline of roughly 15% so far this week. Institutional outflows weigh on Bitcoin and Ethereum while XRP largely follows the broader market trend.
Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.
