OCBC's strategist Christopher Wong says Asian FX remains constrained by a firm Dollar and higher US yields, despite some optimism around US–China talks. The Renminbi (RMB) is the main outperformer on lower USD/CNY fixes and policy-tolerated appreciation, but broader Asia FX stays soft.
Silver price collapses by 7.90% on Friday as US Treasury yields skyrocket amid investor fears of a second round of inflation, fueling speculation that major central banks could raise interest rates in the near term. The XAG/USD trades at $76.88 after reaching a high of $83.87.
UOB’s Global Economics & Markets Research, led by Julia Goh and Loke Siew Ting, notes Malaysia’s 1Q26 Gross Domestic Product (GDP) grew 5.4% year-on-year, slightly above estimates but slower than 4Q25.
DBS Group Research economist Samuel Tse assesses how recent US-China talks are shaping the outlook for Chinese growth and Chinese Yuan (CNY) rates. He highlights a more constructive bilateral tone, prospects for improved US market access, and potential easing of trade frictions.
Gold price retreats by over 2.30% on Friday amid fears that prolonged hostilities between the US and Iran could trigger a second wave of inflation, forcing central banks to hike interest rates. The XAU/USD trades at $4,551 after bottoming at around $4,511.
The US Dollar Index (DXY), which measures the Greenback against a basket of six major currencies, extends its rally on Friday, climbing to its highest level since April 8 as investors continue to favor the US Dollar (USD) amid hawkish Federal Reserve (Fed) expectations and persistent geopolitical un
ING economists Deepali Bhargava, Lynn Song and Min Joo Kang expect Bank Indonesia (BI) to shift toward a tighter stance at its upcoming meeting. They highlight recent Indonesian Rupiah weakness, ongoing FX intervention and wider rate differentials versus the United States.
EUR/GBP climbs to near one-month highs on Friday as rising political uncertainty in the United Kingdom (UK) pressures the British Pound (GBP). At the time of writing, the cross is trading around 0.8726, on track for weekly gains.
The GBP/USD pair extends on Friday its losses for the fourth straight day, poised to finish the week down more than 2% as political turmoil in the UK and increased speculation that Prime Minister Keir Starmer’s successor could widen fiscal deficits weigh on the currency.
West Texas Intermediate (WTI) US Oil extends its rally on Friday, with the US benchmark trading around $100.90 at the time of writing, up 3.13% on the day and breaking above the $100 level to reach a fresh weekly high.
TD Securities’ James Rossiter and Julie Ioffe argue that Prime Minister Starmer is likely to be replaced by late September, with Labour’s leadership race centering on Burnham, Streeting, Rayner and Miliband.
Societe Generale economists highlights that Eurozone 2026 GDP forecasts have been cut more than United States (US) projections in percentage terms, reinforcing United States (US) outperformance.
The Euro (EUR) extends losses against the US Dollar (USD) on Friday, with EUR/USD slipping to near one-month lows as hawkish Federal Reserve (Fed) expectations boost the Greenback and US Treasury yields.
The USD/CAD pair elevated near the 1.3760 level on Friday and remains supported by persistent inflation concerns and rising US Treasury yields following this week’s hotter-than-expected US inflation data.
AUD/USD falls sharply on Friday and trades around 0.7155 at the time of writing, down 0.91% on the day, after hitting its lowest level in more than a week. The pair remains under heavy selling pressure for the second consecutive day amid broad-based US Dollar (USD) strength.
DBS economists Taimur Baig and Radhika Rao expect Japan’s 1Q Gross Domestic Product (GDP) to grow 1.8% QoQ saar, supported by firm exports and AI- and semiconductor-related investment, keeping their 0.5% full-year GDP forecast on track.
Commerzbank's Commodity Analyst Barbara Lambrecht reports that focus in London is turning to Platinum group metals as the World Platinum Investment Council prepares updated forecasts.
TD Securities’ Senior Canada Economist Robert Both expects Canadian Consumer Price Index (CPI) inflation to rise to 3.1% year-on-year in April, driven mainly by higher energy and food prices and base effects from last year’s carbon tax changes.
ING's Francesco Pesole notes the US Dollar (USD) is gaining strong short-term momentum as hotter US data reinforce expectations for a Federal Reserve (Fed) hike.
Gold (XAU/USD) slides to over one-week lows on Friday, pressured by a stronger US Dollar (USD) and rising Treasury yields as mounting Oil-driven inflation risks strengthen expectations that the Federal Reserve (Fed) could keep interest rates elevated for longer.
Scotiabank strategists Shaun Osborne and Eric Theoret highlight that USD/CAD is grinding higher into the mid‑1.37s, with the Canadian Dollar (CAD) underperforming but still faring better than many G10 commodity peers.
Industrial Production in the United States (US) expanded by 0.7% on a monthly basis in April, the Federal Reserve (Fed) reported on Friday. This print followed the 0.3% contraction reported in March and came in better than the market expectation for an increase of 0.3%.
Rabobank strategists outline how a disruption in the Strait of Hormuz could affect Oil and refined products.
Silver (XAG/USD) plunges on Friday, erasing all gains recorded earlier this week as hawkish Federal Reserve (Fed) expectations push US Treasury yields and the US Dollar (USD) higher.
Commerzbank’s Thu Lan Nguyen notes that Aluminium production in China has exceeded official caps thanks to high prices and ample alumina, but this may not fully offset disrupted Gulf supply.
USD/JPY trades around 158.55 on Friday at the time of writing, up 0.11% on the day, as the pair extends its bullish momentum for a fifth straight day.
Societe Generale’s Kit Juckes notes that while US yields have risen sharply since the conflict with Iran, the Dollar’s appreciation has been relatively modest because rates have also increased elsewhere.
KOSPI, the South Korean stock benchmark, soared to an all-time high of 8,046.78 on Friday, driven by a rally in the tech sector. AI-related technology and semiconductors led the advance, which later reversed amid massive profit-taking.
DBS Group Research’s Radhika Rao notes that India’s latest fuel price hike reflects higher global crude costs and aims to moderate domestic demand and imports.
TD Securities strategists revise its Federal Reserve (Fed) call, now projecting no rate cuts in 2026 and expecting the next Federal Open Market Committee (FOMC) move to still be a cut rather than a hike.
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