EUR/USD ends four-day winning streak, prints losses on Friday as risk appetite takes a hit after Israel launched an attack on Iran, boosting the safe-haven appeal of the US Dollar (USD). At the time of writing, the pair trades around 1.1530, down 0.36%.
The Japanese Yen (JPY) is trading weaker against the US Dollar (USD) on Friday, as geopolitical tensions and central bank policy divergence drive market flows.
The Canadian Dollar (CAD) is trading higher against the US Dollar (USD) in the American session on Friday, with the Loonie erasing gains from earlier sessions.
The Dow Jones Industrial Average (DJIA) fell on Friday, shedding over 1,000 points from the previous day’s close as investors pulled back following Israel’s unexpected wave of strikes on Iran. Consumer sentiment data rebounded more than expected, helping to ease Friday’s downside momentum.
GBP/USD is tumbling over 0.40% on Friday as geopolitical tensions triggered a flow towards the US Dollar (USD) haven status after Israel launched an attack on Iran, which escalated the Middle East conflict. The pair traded near 1.3550s after hitting a three-year peak of 1.3632.
The mood on the European gas market remains nervous: the next futures contract for the reference price TTF is now trading 5% higher than Tuesday's low, Commerzbank's commodity analyst Barbara Lambrecht notes.
The Euro (EUR) is weak, down 0.6% and fully retracing Thursday’s ECB (and US PPI)-driven rally, fading back to the psychologically important 1.15 level.
In addition to Gold, we have also revised upwards our forecasts for Silver, Platinum and Palladium, Commerzbank's commodity analyst Carsten Fritsch notes.
The Canadian Dollar (CAD) is trading marginally lower vs. the US Dollar (USD) while performing well against most of the G10 currencies, its performance insulated by the Canadian dollar’s relationship to oil prices, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Gold price rose to $3,445 per troy ounce overnight in response to Israel's attacks on Iran, the highest level since the record high almost two months ago, Commerzbank's commodity analyst Carsten Fritsch notes.
The US Dollar (USD) is strengthening broadly on the back of geopolitical tensions as market participants respond to news of Israeli airstrikes launched against Iran, Scotiabank's Chief FX Strategist Shaun Osborne notes.
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