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The US Dollar edges lower on Friday in thin holiday trade, snapping a two-day winning streak.Tariff tensions resurface as Trump prepares to send letters imposing unilateral trade duties from August 1.US President’s “One Big Beautiful Bill” passes the House of Representatives, raising long-term debt concerns.The US Dollar (USD) eases on Friday, drifting lower in holiday-thinned trading and snapping a two-day winning streak. After climbing on the back of stronger-than-expected US Nonfarm Payrolls data released on Thursday, the Greenback is now paring gains, as market activity remains muted amid the July 4 Independence Day holiday in the United States.The US Dollar…

The USD/JPY trades near 144.50 on Friday, amid thin liquidity, as US markets remain closed for Independence Day.Weekly candle shaping up as a long-legged doji, signaling strong indecision and potential breakout.The 50-day EMA at 144.90 acts as immediate resistance, while Initial support rests at Thursday’s low near 143.50.The US Dollar (USD) is trading slightly lower against the Japanese Yen (JPY) on Friday, with the USD/JPY hovering around 144.50 in subdued holiday-thinned conditions as US markets remain closed for Independence Day. Despite the intraday dip, USD/JPY remains comfortably above the lower boundary of a symmetrical triangle on the daily chart, marked…

NZD/USD consolidates within a symmetrical triangle on the 4-hour chart, reflecting short-term indecision.A rising wedge pattern on the daily chart signals a potential bearish breakout below 0.6038.Kiwi tests critical psychological support at 0.6050.The New Zealand Dollar (NZD) is weakening against the US Dollar (USD) on Friday as market participants weigh near-term resistance against a weakening bullish structure.At the time of writing, NZD/USD is trading around 0.6050, pulling back from the 0.6120 resistance level after failing to maintain recent highs.The NZD/USD 4-hour chart displays a symmetrical triangle pattern formed by a series of lower highs and higher lows, with price action…

Gold is on track for a weekly gain above 1.5% as tariff threats shift the mood sour.Trump confirms tariffs of up to 70% may take effect on August 1 amid trade flare-up.Treasury’s Bessent expects 100 countries to face reciprocal tariffs, while trade deals are incoming.Gold price resumes its uptrend on Friday, poised to print gains of over 1.50% for the week as the US Dollar is on the back foot amid thin liquidity conditions following the closure of US markets in celebration of Independence Day. A slight escalation of the trade war boosted bullion prices. The XAU/USD trades at $3,333,…

GBP/JPY edges lower as safe-haven demand rises ahead of President Trump’s July 9 tariff deadline.UK Prime Minister Keir Starmer faces political pressure from the Labour Party, limiting upside potential for Sterling.GBP/JPY retreats as technical resistance firms around 198.00The Japanese Yen (JPY) is strengthening against the British Pound (GBP) on Friday as markets turn cautious ahead of the weekend.With GBP/JPY retreating after failing to gain traction above the psychologically significant 198.00 level on Thursday, Friday’s price action has been driven by an increase in the demand for safe havens ahead of US President Donald Trump’s tariff deadline on July 9.At the…

WTI Crude Oil remains under pressure near mid-$65s amid thin holiday trading and a lack of fresh catalysts.Traders remain cautious ahead of the July 5 OPEC+ meeting and the July 9 deadline for potential US tariff action.OPEC+ is expected to approve a third consecutive supply increase for August, though actual output remains below target.West Texas Intermediate (WTI) Crude Oil prices remain subdued on Friday, extending losses from the previous day and hovering near the mid-$65s amid thin holiday trading, lingering demand concerns, and a lack of fresh catalysts. The US benchmark is trading within Wednesday’s range, reflecting a wait-and-see approach…

Bank of England (BoE) rate-setter Alan Taylor noted late on Friday that downside pressures are continuing to build up underneath the UK’s economy, signaling that early rate cuts may be needed ahead of a questionable forecasting period.Key highlightsWould expect bank rate to normalise close to 2.75%, absent shocks.Would expect bank rate, should MPR inflation projections be close to what we actually see, at around 3% by end of 2026.Better to cut rate now and hold for longer later rather than hold too long and cut in a hurry.Disinflationary forces are building this year.Insurance against deteriorating demand is advisable.A soft landing…

The rupee appreciated 16 paise to close at 85.39 (provisional) against the US dollar on Friday, tracking a decline in the American currency in the overseas market and a weak tone in crude oil prices. Forex traders said Asian currencies, including the rupee, gained ground on renewed hopes of trade deals with the US. US President Donald Trump announced a trade agreement with Vietnam, and that injected a dose of optimism that perhaps more such agreements could be in the pipeline before the crucial July 9 deadline, according to forex traders. At the interbank foreign exchange, the domestic unit opened…

The Indian rupee witnessed muted price action on Friday to end the week little changed as traders awaited developments in U.S.-India trade talks, with a positive outcome potentially helping the local currency break past a sticky resistance level. The rupee closed at 85.3925, down about 0.1% each on the week and day. The currency had risen to a one-month peak of 85.25 in the previous session but pared gains on Friday after traders scaled back wagers on rate cuts by the Federal Reserve following a stronger-than-expected U.S. labour market report.On the day, routine dollar demand from importers weighed on the…

Silver consolidates just below its highest level in more than two weeks set on Thursday.The mixed technical setup warrants some caution before placing fresh directional bets.Any corrective slide might still be seen as a buying opportunity and remain cushioned.Silver (XAG/USD) holds steady below the $37.00 mark during the Asian session on Friday and remains within striking distance of over a two-week high touched the previous day. Meanwhile, the constructive technical setup suggests that the path of least resistance for the white metal remains to the upside. The daily Relative Strength Index (RSI, 14) remains above 50 and validates the positive…