S&P Global will release on Friday the November flash Purchasing Managers' Indices (PMIs) for most major economies, including the United States (US). These surveys of top private sector executives provide an early indication of the business sector’s economic health.

USD/JPY trades around 156.70 on Friday at the time of writing, retreating as the Japanese Yen (JPY) regains strength.

Federal Reserve (Fed) Bank of New York President John Williams said on Friday that the Fed can still cut rates in the near term, given current policy is modestly restrictive, per Reuters.

EUR/USD has reversed previous gains and trades at 1.1515 ahead of the US session opening, after hitting fresh two-week lows, right below the 1.1500 level earlier on the day.

The New Zealand Dollar remains pinned near seven-month lows at 0.5580 against the US Dollar, with upside attempts failing to hold above 0.5600.

The Silver market is set to remain undersupplied for a fifth consecutive year, with physical demand declining but ETF flows pushing the overall deficit to a decade-high, Commerzbank's FX analyst Michael Pfister notes.

The World Platinum Investment Council and Metals Focus, a research company specializing in precious metals, have revised their forecast for the Platinum supply deficit this year down to 692,000 ounces. In September, the forecast was 850,000 ounces, Commerzbank's FX analyst Michael Pfister notes.

Swiss Gold exports fell sharply in October, particularly to China and India, reflecting signs of slowing demand after Gold prices hit record highs, Commerzbank's commodity analyst Carsten Fritsch notes.

Mexico Gross Domestic Product (QoQ) meets forecasts (-0.3%) in 3Q

Mexico Gross Domestic Product (YoY) registered at -0.1% above expectations (-0.2%) in 3Q

The US jobs report for way back in September was certainly better than expected with the headline NFP stronger than the consensus.

Gold (XAU/USD) trades on the back foot on Friday, weighed down by fading hopes of a December interest rate cut from the Federal Reserve (Fed).

US Dollar (USD) is likely to trade between 7.1100 and 7.1220. In the longer run, for the time being, USD is likely to trade between 7.1020 and 7.1285, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

AUD/USD softens slightly on Friday, trading around 0.6440 and down 0.10% at the time of writing. The decline comes despite supportive domestic data, as the pair struggles to extend Thursday’s rebound amid mixed global sentiment.

Gold (XAU/USD) has retraced gains from the previous three days, with precious metals on retreat as investors pare back hopes of a Federal Reserve rate cut in December.

EUR/USD holds above 1.1500 as solid Eurozone business activity supports an extended ECB pause, while market pricing still factors in potential rate cuts, BBH FX analysts report.

US Dollar (USD) is expected to continue moving higher; the next level to watch is 158.00, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

GBP/USD is trading heavy above key support at 1.3000. Disappointing UK economic activity and the expected fiscal drag from the upcoming UK budget leave room for the BOE to deliver more easing than is currently priced-in (63bps in the next 12 months).

India FX Reserves, USD climbed from previous $687.03B to $692.58B in November 10

There is a chance for New Zealand Dollar (NZD) to test 0.5565; a continued decline below this level is unlikely. In the longer run, NZD is expected to move lower; if it breaks below 0.5565, it could decline further to 0.5540, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/JPY edged down to 156.60 after reaching a multi-month high around 157.90 yesterday. Japan’s sticky inflation backdrop, increased fiscal support, and firm economic activity argue for the Bank of Japan (BOJ) to raise rates in December.

There is scope for Australian Dollar (AUD) to weaken further to 0.6430; the major support at 0.6405 is unlikely to come under threat today. In the longer run, the price action suggests there is scope for AUD to test 0.6405, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

US stocks sold off yesterday after a strong Nvidia-fueled open. That’s a sign of a frothy market where investors sell into strength, not chasing it. Treasury yields slipped across the curve as a December Fed funds rate cut remains in play despite September’s jobs gain overshoot.

Outlook is mixed; Pound Sterling (GBP) could trade between 1.3045 and 1.3120. In the longer run, there is room for GBP to test the significant support level at 1.3000, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Markets are on edge as Japanese officials warn of possible yen interventions amid rapid Japanese Yen (JPY) depreciation and rising inflation pressures, DBS' Senior FX Strategist Philip Wee notes.

The Euro snapped a four-day rally against the Japanese Yen on Friday and is dropping about 0.7% on the day so far, reaching session lows at 180.30.

The Pound Sterling (GBP) falls sharply against its major currency peers on Friday, following the release of poor United Kingdom (UK) Retail Sales data for October, and preliminary S&P Global Purchasing Managers’ Index (PMI) data for November.

Euro (EUR) appears to have entered a consolidation phase between 1.1505 and 1.1550. In the longer run, the bias for EUR has shifted to the downside; it is too early to tell if it can reach 1.1470, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The US Dollar (USD) remained nearly unchanged at 100.2 after mixed U.S. jobs data, as investors turn their focus to the Fed and the upcoming holiday-shortened trading week, DBS' Senior FX Strategist Philip Wee notes.

EUR/GBP trades around 0.8820 on Friday at the time of writing, virtually unchanged on the day as investors digest a series of contrasting macroeconomic indicators from the Eurozone and the United Kingdom (UK).