AUD/CAD Exchange rate

EUR/USD has found fresh demand and closes in on 1.1100 in the European session on Friday. The pair builds on the previous recovery amid extended US Dollar weakness and a cautiously optimistic market mood. Traders digest the less dovish ECB policy decision ahead of the US sentiment data. 

GBP/USD is consolidating recovery gains while trading near 1.3150 in the European session on Friday. Despite a tepid risk tone, the pair capitalizes on increased bets for an outsized Fed rate cut, which continue to weigh on the US Dollar. US UoM Consumer Sentiment data awaited. 

Gold is exchanging hands in the high $2,560s on Friday, trading about 0.40% higher on the day after posting new record highs on Thursday when it broke decisively out of a range it had been oscillating in since it peaked on August 20.

Crypto mining is the process by which new Bitcoin and Ethereum enter circulation. Data from crypto intelligence tracker shows that wallets of Bitcoin and Ethereum miners noted a decline in their holdings of the assets in the first half of the year. 

The European Central Bank is expected to cut key rates by 25 bps at the September policy meeting. ECB President Christine Lagarde’s presser and updated economic forecasts will be closely scrutinized for fresh policy cues.