The Euro (EUR) trades with a mild positive tone against the British Pound (GBP) on Friday, with EUR/GBP paring earlier gains after failing to sustain momentum above 0.8660.

The University of Michigan (UoM) is expected to release the preliminary figures of its monthly Consumer Confidence Index for September on Friday.

Canada Capacity Utilization came in at 79.3%, above expectations (78.8%) in 2Q

Canada Building Permits (MoM) came in at -0.1%, below expectations (4%) in July

Gold (XAU/USD) is trading with a mild positive tone on Friday, consolidating near $3,650 mark after rebounding from Thursday’s pullback. The precious metal remains stuck in a narrow range after notching an all-time high near $3,675 earlier this week.

United Kingdom NIESR GDP Estimate (3M) climbed from previous 0.2% to 0.3% in August

West Texas Intermediate (WTI), futures on NYMEX, trades 1.6% higher to near $63.00 during the late European trading session on Friday.

The EUR/USD pair gives away gains on the early European session and retreats to levels near 1.1700, amid choppy and volatile trading on Friday.

The Euro (EUR) is flat, trading unchanged from Thursday’s close with overnight releases limited to as expected, final CPI figures from Germany and France.

The Canadian Dollar (CAD) is trading flat against the US Dollar (USD) and outperforming all of its G10 peers on the crosses, ending the week also unchanged from last Friday’s close, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The US Dollar (USD) is strengthening broadly—albeit modestly—into Friday’s NA session and showing gains against all of the G10 currencies, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Silver’s (XAG/USD) broke higher on Thursday and has reached a fresh 14-year high at $42.45, favoured by US Dollar weakness after US Jobless Claims and CPI data paved the path for a Fed rate cut next week.

India FX Reserves, USD rose from previous $694.23B to $698.27B in September 1

The Pound Sterling (GBP) faces selling pressure against its major currency peers on Friday after the release of the UK Gross Domestic Product (GDP) and factory data for July.

The Indian Rupee recovers early losses and ticks up to near 88.40 against the US Dollar (USD) on Friday. The USD/INR pair faces slight selling pressure as the Indian Rupee attracts bids after the release of India's Consumer Price Index (CPI) data for August.

The US Dollar remains trading within a tight range, with upside attempts limited at 0.7980, following a rejection from the 0.8000 psychological area on Thursday. Higher Jobless Claims and moderate consumer inflation figures cemented hopes of Fed cuts and undermined speculative demand for the USD.

The World Platinum Investment Council has revised its forecast for the supply deficit in the Platinum market this year downwards to 850,000 ounces. The Platinum market is thus showing a considerable supply deficit for the third year in a row. Last year, demand exceeded supply by 968,000 ounces.

US Dollar (USD) is likely to trade in a range between 7.1080 and 7.1240. In the longer run, room for USD to drop below 7.1100; any decline is likely to be slow, and 7.1000 may not come into view so soon, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

OPEC did not make any changes to its forecasts in its monthly report, Commerzbank's commodity analyst Carsten Fritsch notes.

US Dollar (USD) is likely to trade in a range of 146.75/147.65. In the longer run, a narrower range of 146.20/148.50 is likely enough to contain the price movements for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Such a significant oversupply as anticipated by the IEA would exert considerable pressure on oil prices, like in 2020, which would have a negative impact on oil production, Commerzbank's commodity analyst Carsten Fritsch notes.

Gold price (XAU/USD) demonstrates strength near its all-time high around $3,650 during the European trading session on Friday. The precious metal trades firmly as the Federal Reserve (Fed)seems certain to cut interest rates in the monetary policy meeting on Wednesday.

The US Dollar bounced up from lows earlier on Friday, but upside attempts remain limited below the 98.00 level so far, which keeps price action trapped within the previous day’s range, and maintains the broader bearish trend intact. 

There is room for New Zealand Dollar (NZD) to rise further, but it is unlikely to be able to break above 0.5990 today. In the longer run, NZD could break above 0.5990; the scope for further advance may be limited, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The International Energy Agency expects a massive supply surplus on the global oil market of 3.33 million barrels per day on average in the coming year, based on its forecasts, Commerzbank's commodity analyst Carsten Fritsch notes.

USD/JPY trades mid-range after the US Treasury and Japan’s Finance Ministry reaffirmed that exchange rates should be market determined. The rare joint statement, the first since 2022 to mention FX, underscored opposition to competitive devaluations, BBH FX analysts report.

Australian Dollar (AUD) is likely to strengthen further but is unlikely to reach 0.6700. In the longer run, the price action continues to suggest a higher AUD; the next level to watch is 0.6700, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Russia Interest Rate Decision registered at 17% above expectations (16%)

EUR/USD is holding on to most of its post-ECB meeting gains. The ECB left the policy rate steady at 2.00% for a third consecutive meeting (widely expected) and signaled the easing cycle is over. The decision to stand pat was unanimous, BBH FX analysts report.

Pound Sterling (GBP) could test and possibly break above 1.3595, but it is unlikely to be able to maintain a foothold above this level.