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United Kingdom S&P Global Services PMI came in at 54.3, above expectations (51.7) in January
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EUR/USD comes under some mild selling pressure on Friday, partially fading Thursday’s strong pullback and revisiting the 1.1740 region on the back of a humble recovery in the US Dollar. Later in the day, investors’ attention will be on the release of US flash PMIs for the month of January.
GBP/USD extends its weekly firm performance and challenges the area of two-week peaks around 1.3530 on the back of a tepid bounce in the Greenback. Positive results from UK Retail Sales and preliminary PMIs appear to reinforce Cable's solid gains so far on Friday.
Gold prices hit a record high near $4,970 per troy ounce earlier on Friday, leaving the door wide open to a potential test of the key $5,000 barrier. The Greenback’s inconclusive price action and shrinking US Treasury yields across the curve add to the yellow metal’s rally so far on Friday.
Bitcoin is struggling to stay above support at $89,000 at the time of writing, as headwinds intensify across the cryptocurrency market on Friday. Ethereum and Ripple are facing low retail and institutional demand, while bearish indicators continue to flash subtle signals that losses may extend further.
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?
Tron (TRX) price extends its gains, trading above $0.30 at the time of writing on Friday after retesting the previously broken bullish breakout structure earlier this week. The positive on-chain and derivatives data back the bullish price action.
