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USD/JPY plunges over 300 pips on Friday amid a suspected Japan Ministry of Finance (MoF) ‘rate check’, as excessive Yen (JPY) weakness fuels intervention fears. At the time of writing, the pair is trading around 156.18, down nearly 1.40% on the day, sliding to its lowest level since late December.At the same time, broad-based weakness in the US Dollar (USD) is adding to the downside pressure, as concerns over Federal Reserve (Fed) independence and US President Donald Trump’s protectionist trade policies continue to erode confidence in the Greenback, despite a recent easing of US-European Union (EU) trade tensions.The US Dollar…

The British Pound (GBP) continues to outperform the US Dollar (USD) on Friday, with GBP/USD climbing to the 1.3600 handle as the Greenback remains under broad-based selling pressure. At the time of writing, the pair is up nearly 0.73% on the day, marking its highest level since September 18, 2025.Sterling is also drawing support from stronger-than-expected UK economic data, which has tempered near-term rate cut expectations at the Bank of England (BoE).The flash Composite Purchasing Managers Index (PMI) rose to 53.9 in January from 51.4, with the Services PMI jumping to 54.3 from 51.4, while the Manufacturing PMI improved to…

Gold (XAU/USD) regains ground on Friday, notching yet another record high after coming under brief pressure earlier in the day. At the time of writing, XAU/USD is trading around $4,980, rebounding from an intraday low near $4,899, and remains on track for a third consecutive weekly gain.Meanwhile, a mixed batch of US economic data failed to offer meaningful support to the US Dollar (USD), allowing Gold to extend its advance.Bullion is up more than 8% this week, supported by strong safe-haven demand after renewed trade rhetoric from US President Donald Trump over the Greenland dispute unsettled global markets, reviving “Sell…

The Euro (EUR) trades flat against the US Dollar (USD) on Friday, as traders show a muted reaction to the latest US economic data. At the time of writing, EUR/USD is hovering near 1.1750 and remains on track for its first weekly gain in three weeks amid sustained weakness in the Greenback.Preliminary S&P Global Purchasing Managers Index (PMI) data showed the flash Composite PMI edging up to 52.8 in January from 52.7, while the Manufacturing PMI rose to 51.9 from 51.8, missing expectations of 52.1, and the Services PMI came in at 52.5, unchanged from December and below the 52.8…

Silver (XAG/USD) prices reached the $100.00 milestone on Friday, recording an all-time high of $100.39 before retreating towards the triple-digit figure. The grey metal is posting daily gains of over 4% after bouncing off daily lows of $96.04.Even though geopolitical risk diminished following the de-escalation of the US-European Union trade war, the US Dollar (USD) faces headwinds, continuing to extend its losses during the year.According to TASS, Russia, Ukraine and the US talks had started in Abu Dhabi, aimed to finally reach an agreement to end the war.XAG/USD Price Forecast: Technical outlookSilver’s parabolic uptrend continues, as depicted by price action.…

GBP/USD surges during the North American session on Friday by over 0.31% on stronger-than-expected Retail Sales and PMI data, even though the US Dollar (USD) trimmed losses on an upbeat Consumer Sentiment report. At the time of writing, the pair trades at 1.3542 after bouncing off daily lows of 1.3482.Sterling rallies on strong UK data, trimming Bank of England easing expectationsIn the UK, Retail Sales data sponsored a leg-up in the GBP/USD pair, which cleared the 1.3500 figure, but it remains shy of the latest cycle high, which could pave the way towards 1.3600. In December, Retail Sales rose 0.4%…

Business activity in the US private sector expanded at a slightly better pace in January than in December, with the S&P Global’s preliminary Composite Purchasing Managers’ Index (PMI) edging higher to 52.8 from 52.7.In this period, the Manufacturing PMI rose to 51.9 from 51.8, while the Services PMI remained unchanged at 52.5. Both of these figures came in slightly below analysts’ estimates.Commenting on the survey’s findings, “The flash PMI brought news of sustained economic growth at the start of the year, but there are further signs that the rate of expansion has cooled over the turn of the new year…

The Canadian Dollar (CAD) extends gains against the US Dollar (USD) on Friday, supported by a broadly softer Greenback and stronger-than-expected Canadian Retail Sales data. At the time of writing, USD/CAD trades around 1.3767, marking a fifth consecutive daily decline.Data released by Statistics Canada showed that Retail Sales rose 1.3% MoM in November, beating market expectations of 1.2% and rebounding sharply from October’s 0.3% decline.Retail Sales excluding autos were even stronger, climbing 1.7% on the month, above forecasts of 1.2%, after falling 0.6% in October.The rebound in retail activity supports the Bank of Canada’s (BoC) wait-and-see approach after inflation data…

Foreign currency assets, the largest component of the reserves, climbed by USD 9.652 billion to USD 560.518 billion, while gold reserves jumped by USD 4.623 billion to USD 117.454 billion. India’s foreign exchange reserves jumped by USD 14.167 billion to USD 701.36 billion during the week ended January 16, the Reserve Bank said on Friday.The overall reserves had increased by USD 392 million to USD 687.193 billion in the preceding week.All-time highsThe reserves climbed to an all-time high of USD 704.89 billion in September 2024, but have been under pressure lately, especially as the currency buffers get deployed to check…

EUR/USD posts moderate losses, trading right above 1.1730 at the time of writing on Friday, but holding most of the previous day’s gains and on track for its strongest weekly performance since June. Eurozone’s flash Purchasing Managers’ Index (PMI) has failed to provide any significant support to the Euro (EUR), but the pair remains near multi-week highs, favoured by a weak US Dollar (USD), as the focus turns to the US S&P Global PMIs.US President Trump’s obsession with Greenland and the tense relations between the US and Europe attracted attention this week and sent the Greenback sharply lower across the…