EUR/USD drops even though the Dollar pared some of its earlier gains on Friday sparked by solid US economic data releases in the week, which has improved the outlook for the labor market. This trimmed the chances for further easing by the Federal Reserve, a tailwind for the Greenback.

United States CFTC Oil NC Net Positions climbed from previous 57.4K to 58.1K

Japan CFTC JPY NC Net Positions down to ¥-45.2K from previous ¥8.8K

Australia CFTC AUD NC Net Positions rose from previous $-19K to $-18.8K

United States CFTC S&P 500 NC Net Positions down to $-122.1K from previous $-106.1K

United States CFTC S&P 500 NC Net Positions: $-1221K vs previous $-106.1K

United States CFTC Gold NC Net Positions up to $251.2K from previous $227.6K

United Kingdom CFTC GBP NC Net Positions increased to £-25.3K from previous £-30.5K

Eurozone CFTC EUR NC Net Positions fell from previous €162.8K to €132.7K

Gold (XAU/USD) registers losses of over 0.70% on Friday as traders take profits, as in the last two weeks, data in the US has shown the labor market is not as weaker as expected.

The Australian Dollar (AUD) trades on the back foot against the US Dollar (USD) on Friday, as resilient US economic data and hawkish-leaning Federal Reserve (Fed) rhetoric keep the Greenback firmly supported.

United States Baker Hughes US Oil Rig Count came in at 410, above forecasts (407)

The US Dollar (USD) lacked directional momentum this week amid geopolitical and local uncertainty.

USD/JPY trades lower around 158.00 on Friday at the time of writing, down 0.40% on the day, as the Japanese Yen (JPY) regains some traction against the US Dollar (USD).

West Texas Intermediate (WTI) US Oil trades around $59.80 per barrel on Friday at the time of writing, up 1.60% on the day.

Federal Reserve (Fed) Vice Chair Michelle Bowman said that, given the risks, the Fed should not signal a pause in its rate-cutting campaign, in a speech at the New England Economic Forum in Foxborough, Massachusetts, on Friday.

The Euro (EUR) turns lower against the US Dollar (USD) on Friday, surrendering intraday gains as renewed demand for the Greenback keeps the pair on the defensive. At the time of writing, EUR/USD is trading flat near 1.1600, after briefly sliding to its lowest level since November 28.

The price of Silver continued its upward trajectory this week, reaching a record high of $93.75 per troy ounce on Thursday morning. As a result, the Gold/Silver ratio briefly slipped below the 50 mark for the first time since March 2012.

OPEC+ production fell short of targets by 720,000 bpd in December, with Russia and Kazakhstan contributing most to the shortfall amid ongoing disruptions.

The US Energy Information Administration forecasts US Crude production to remain near 13.6 million bpd in 2026, with a gradual decline next year due to weaker drilling activity amid low Oil prices.

China imported a record volume of Crude Oil in December and across 2025, driven by higher refinery runs and aggressive stockpiling, Commerzbank's commodity analyst Carsten Fritsch notes.

The British Pound (GBP) trades sideways against the US Dollar (USD) on Friday during the North American session, after reaching a daily high of 1.3413, but solid US data released this week capped Sterling’s advance.

Russia Consumer Price Index (MoM) declined to 0.3% in December from previous 0.42%

The Japanese Yen (JPY) is strong, up 0.3% vs. the US Dollar (USD) and outperforming all of the G10 currencies with the exception of NOK and NZD, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Pound Sterling (GBP) is up a modest 0.2% vs. the US Dollar (USD) and a relative performer among the G10 currencies in an environment of broad – albeit mild – USD weakness, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) is up a fractional 0.1% vs. the US Dollar (USD) and a relative underperformer among the G10 currencies as we head into Friday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Canadian Dollar (CAD) is little changed on the day, with neither a modest bid for US equity futures nor a more obvious bump in crude prices helping the CAD out, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Silver (XAG/USD) trades around $89.70 on Friday at the time of writing, down 2.50% on the day, extending the corrective move that began after reaching record highs earlier in the week.

The British Pound (GBP) remains under pressure against the Japanese Yen (JPY) on Friday, with GBP/JPY extending losses for a third straight session as repeated warnings from Japanese officials revive speculation over possible currency intervention.

United States NAHB Housing Market Index below forecasts (40) in January: Actual (37)