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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 depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.
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 is looking to test the weekly lows, while in the red near $4,450 in the early European session on Friday. The precious metal remains vulnerable 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 held the Repo Rate at 5.25%, as widely expected, on Friday. But the central bank unveiled various measures to boost foreign inflows into the economy, lifting the Indian Rupee against the US Dollar.
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.
