2023-06-16 09:36

USD/JPY has jumped above 141.00 confidently as the BoJ has continued its expansionary policy. BoJ Ueda stated that Japan's headline CPI around 3.5% is due to external, cost-push factors, and cannot be controlled by Japan's monetary policy. USD/JPY is approaching 61.8% Fibonacci retracement plotted at 142.63. (FXStreet) USD/CAD is seen consolidating its recent losses to the lowest level since September 2022. A modest USD recovery from a multi-week low is seen acting as a tailwind for the major. The uncertain Fed policy outlook might cap any further upside for the buck and the pair. (FXStreet) EUR/GBP struggles to register any meaningful recovery from the YTD low touched earlier this week. Bets for more rate hikes by the BoE underpin the British Pound and act as a headwind for the cross. The ECB’s hawkish outlook lends support to the Euro and helps limit the downside, at least for now. (FXStreet) GBP/JPY rises for the fourth consecutive day to refresh multi-month high after BoJ Governor Ueda’s speech. BoJ’s Ueda defends easy-money policy by citing hopes of easing inflation. RSI conditions, multiple upside hurdles around mid-180.00s prod buyers. Bears have a long and bumpy road to take entry into the bar. (FXStreet) GBP/USD is making efforts for shifting the auction above 1.2800 as the risk-appetite theme is in action. The Pound Sterling is in the limelight as the BoE is expected to raise interest rates further. GBP/USD has printed a fresh annual high of around 1.2790 after climbing above the horizontal resistance plotted at 1.2667. (FXStreet) AUD/USD has shown exhaustion in the north-side momentum after reaching to near 0.6900. The risk-taking ability of the market participants is cooling down as the Fed has confirmed two more interest rate hikes this year. The minutes from RBA will provide a detailed explanation behind the interest rate hike of 25 bps. (FXStreet) USD/MXN has displayed a recovery move from 17.10 following positive cues from the USD Index. S&P500 futures have increased losses as investors are hoping that recession fears in the US have not receded. The US economy is operating in a better position beyond full-employment levels and will keep households demand at elevated levels. (FXStreet) NZD/USD continues scaling higher on Friday and climbs to a nearly four-week high. The USD remains depressed amid dovish Fed expectations and lends some support. A positive risk tone further undermines the buck and benefits the risk-sensitive Kiwi. (FXStreet) USD/TRY trades in choppy weekly range after refreshing all-time high. Markets expect CBRT rate hike next week as newly appointed policymakers seem having permission from Turkish President Erdogan. Fed’s hawkish pause gains little acceptance amid mixed US data, Chairman Powell’s Testimony eyed. Mid-tier US data, risk catalysts can entertain Turkish Lira traders amid a likely dull Friday. (FXStreet) WTI prices extended the weekly bounce and reclaimed the area above the key $70.00 mark per barrel on Thursday. The move, however, was on the back of shrinking open interest and volume, removing strength for the continuation of the rebound in the very near term. So far, bullish attempts appear limited around the monthly highs near the $75.00 level. (FXStreet) Prices of natural gas rose markedly on Thursday and clinched multi-day highs near the $2.60 zone. The pronounced uptick, however, was amidst shrinking open interest and volume and could prompt some corrective move in the very near term. In the meantime, the May high near $2.70 per MMBtu (May 19) emerges as the immediate target for bulls. (FXStreet) Gold price gains positive traction for the second straight day, though lacks bullish conviction. An intraday pickup in the US bond yields revives the USD demand and could act as a headwind. Hawkish outlook by major central banks further contribute to capping gains for the XAU/USD. (FXStreet) Silver price is hoping to shift its auction above $24.00 amid a sell-off in the USD Index. Further ease in US labor market conditions indicates that the Fed could continue skipping rate hikes in July too. The anatomy of the Retail Sales report showed that demand for automobiles and building materials was extremely solid. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-06-15 09:33

The index reverses part of the recent bearish move. Investors continue to adjust to Wednesday’s FOMC event. The ECB is largely anticipated to raise rates by 25 bps. The USD Index (DXY), which tracks the Greenback vs. a bundle of its main competitors, manages to pick up some traction and breaks above the key 103.00 hurdle on Thursday. (FXStreet) GBP/USD retreats further from over a one-year top and is pressured by resurgent USD demand. The Fed’s hawkish outlook triggers a fresh leg up in the US bond yields and benefits the Greenback. Bets for more rate hikes by the BoE might continue to underpin the GBP and limit further losses. (FXStreet) GBP/JPY has continued its two-day winning streak due to solid hopes of further BoE-BoJ policy divergence. To maintain Japan’s inflation steadily above 2%, a tweak in the BoJ monetary policy is less likely. BoE Bailey assured that inflation will come down, but it will take longer than expected. (FXStreet) EUR/GBP stays pressured within seven-week-old falling wedge, approaches weekly support. RSI conditions suggest limited downside room, highlight 0.8520 as additional support. 100-SMA can prod bullish wedge confirmation before giving control to buyers. ECB is likely to announce 0.25% rate hike but Lagarde Speech will be crucial to watch. (FXStreet) EUR/JPY scales higher for the fourth straight day and spikes to a fresh multi-year high on Thursday. The BoJ’s dovish stance, along with reduced bets for Japan’s intervention, weigh heavily on the JPY. Investors now look to the key ECB decision for a fresh impetus ahead of the BoJ meeting on Friday. (FXStreet) USD/CHF gains some positive traction on Thursday, albeit lacks follow-through. The USD trims a part of its intraday gains and acts as a headwind for the major. The Fed’s hawkish outlook favours the USD and should lend support to the pair. (FXStreet) USD/TRY remains confined in a familiar trading range held over the past week or so. Overbought oscillators on short-term charts hold back bulls from placing fresh bets. A convincing break below the 23.00 mark could negate the near-term positive outlook. (FXStreet) AUD/USD found buying interest near 0.6800 as tight Australian labor market conditions support more rate hikes from the RBA. S&P500 futures have generated decent losses in Europe as a hawkish dot plot by the Fed has provoked caution. China’s commerce ministry commented that disputes with Australia are set out to resolve. (FXStreet) NZD/USD has shown a recovery move to near 0.6200 despite the NZ economy reporting a technical recession. Fed Powell confirmed that rate cuts are not appropriate this year. NZD/USD faced sheer resistance near the 61.8% Fibonacci retracement at 0.6230. (FXStreet) WTI bears stay hopeful after returning to the desk from one-week high. US Dollar strength joins IEA forecasts and downbeat EIA weekly Oil inventories to favor Oil sellers. US Retail Sales, more clues on energy market eyed for fresh impulse. (FXStreet) Prices of natural gas rose for the third session in a row on Wednesday. The daily uptick came in tandem with shrinking open interest and volume and exposes some corrective move in the very near term. Looking at the broader picture, the commodity is expected to keep the ongoing consolidation well in place for the time being. (FXStreet) Gold price has displayed a decline after a short-lived pullback to near $1,934.00 as Fed delivered hawkish guidance. Some sort of consolidation is anticipated from the USD Index as investors are awaiting the release of the Retail Sales data. Gold price has displayed a breakdown of the crucial support plotted from March 22 low at $1,934.34. (FXStreet) Silver meets with a fresh supply on Thursday and drops to a one-week low. The setup favours bearish traders and supports prospects for further losses. A sustained move back above $24.00 is needed to negate the negative bias. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-06-14 09:07

EUR/USD alternates gains with losses in the sub-1.0800 region. The Fed is likely to skip a rate hike at its meeting later on Wednesday. Latest US inflation figures support the largely anticipated Fed pause. (FXStreet) USD/CAD has shown a vertical fall to near 1.3300 due to a solid recovery in the oil price. Market sentiment has turned extremely positive as a skip in the policy-tightening spell by the Fed will trim fears of US recession. USD/CAD has tested the demand zone placed in a range of 1.3270-1.3300. (FXStreet) USD/JPY has displayed a mild recovery from 140.00 ahead of the Fed’s policy. Soft US inflation has provided Fed policymakers the luxury of keeping interest rates steady. S&P500 futures are choppy after a positive Tuesday as investors have turned cautious ahead of Fed policy. (FXStreet) GBP/JPY remains sidelined at the highest levels since January 2016. UK statistics came in mixed, GDP improves for April. Market’s consolidation ahead of Fed, mixed concerns about BoJ vs. BoE prod pair buyers. (FXStreet) The index trades in a tight range near 103.30 on Wednesday. Tuesday’s drop in US CPI gives green light to a Fed’s pause. Investors still see the Fed hiking rates in the July 26 event. The greenback, when tracked by the USD Index (DXY), navigates a very narrow range around the 103.30 region on Wednesday. (FXStreet) USD/CHF remains sidelined within the key DMA envelope amid pre-Fed inaction. Clear downside break of previous support line, U-turn from multi-day-old resistance underpin bearish bias. Looming bear cross on MACD adds strength to the downside hopes. Swiss Franc bears need acceptance beyond 0.9130 to keep the reins. (FXStreet) EUR/JPY is looking for a potential support around 151.00 as an interest rate hike by the ECB to widen ECB-BoJ policy divergence. Eurozone showed a contraction in the final reading of GDP in the first quarter of CY2023. Constant monetary stimulus is required in Japan as current inflationary pressures are inspired by higher import prices. (FXStreet) GBP/USD seesaws around five-week high after mixed UK data dump. UK GDP improves in April but Manufacturing, Industrial Production fail to impress Cable bulls. Increasing odds of BoE rate hike versus Fed’s pause to 1.5-year-old rate increase cycle keeps Pound Sterling buyers hopeful. Fed policymakers need to dump calls of more rate hikes, revise economic forecasts to propel GBP/USD, Powell’s Speech eyed. (FXStreet) USD/TRY bulls take a breather at the record high as traders await the Fed’s verdict. Erdogan’s re-election keeps USD/TRY bulls hopeful even as change in CBRT Governor prods Turkish Lira bears. Risk of pullback in prices intensifies at higher levels as Fed’s hawkish halt versus CBRT’s likely rate hike looms. (FXStreet) NZD/USD retreats from three-week high, stays mildly bid despite the latest fall toward intraday low. Bullish chart formation, sustained trading beyond 100-SMA and downbeat US inflation keeps Kiwi pair buyers hopeful. Sellers need validation from 0.6025 and the Fed to retake control. (FXStreet) USD/INR oscillates in a narrow trading band through the Asian session on Wednesday. Failure to find acceptance below the 100-day SMA warrants caution for bearish traders. A break below the 82.00 confluence is needed to support prospects for additional losses. (FXStreet) Tuesday’s strong advance in prices of WTI was amidst shrinking open interest and volume. That said, further recovery appears out of favour in the very near term, allowing the commodity to potentially retest the June low in the sub-$67.00 region per barrel (June 12). (FXStreet) Natural gas extended the weekly recovery on Tuesday against the backdrop of increasing open interest and volume, exposing the continuation of the move for the time being. That said, there is an initial hurdle at the monthly high near the $2.40 mark per MMBtu, an area reinforced by the 100-day SMA. (FXStreet) Gold price attracts some buyers near 100-day SMA and recovers a part of the overnight losses. Bets for an imminent pause in the Federal Reserve's rate hiking cycle lend support to the metal. A softer risk tone also benefits the safe-haven XAU/USD, though a modest USD uptick caps gains. Investors also seem reluctant to place aggressive bets ahead of the key central bank event risks. (FXStreet) Silver attracts fresh buyers on Wednesday and snaps a two-day losing streak. Negative oscillators on daily/hourly charts warrant caution for bullish traders. A break below 23.6% Fibo. is needed to support prospects for further losses. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-06-13 09:42

USD/CAD has rebounded from 1.3340 after sensing intermediate stability in the oil price. The USD Index is struggling to keep its auction above 103.20 as the risk appetite theme has trimmed its appeal. One time weakness in Canadian Employment is insufficient to force the BoC to turn neutral again. (FXStreet) USD/JPY is continuously oscillating below 140.00 as the focus shifts to US Inflation. More downside in the USD Index looks solid, facing pressure from the risk-appetite theme and the hopes of further US inflation easing. BoJ Ueda is expected to keep the interest rate policy unaltered as he has been reiterating the need for further monetary stimulus. (FXStreet) EUR/USD finally pierces the key 1.0800 hurdle. Germany, EMU Economic Sentiment comes next in the docket. US CPI results are due later in the NA session. The single currency extends the auspicious start of the new trading week and lifts EUR/USD to fresh 3-week highs past 1.0800 the figure on Tuesday. (FXStreet) The index appears offered near monthly lows around 103.30. US CPI is expected to extend the downward bias in May. The Fed starts its 2-day meeting later on Tuesday. The USD Index (DXY), which tracks the greenback vs. a basket of its main rival currencies, resumes the downtrend and trades at shouting distance from monthly lows near 103.30 on turnaround Tuesday. (FXStreet) EUR/JPY scales higher for the second straight day and climbs to a two-week high on Tuesday. The ECB-BoJ policy divergence favours bulls and remains supportive of the ongoing move up. Traders now await the ECB decision and the BoJ meeting before placing fresh directional bets. (FXStreet) GBP/JPY jumps 50 pips as strong UK employment report bolsters hawkish BoE bets. Upbeat UK data joins pair’s rebound from 100-HMA to lure buyers. Fortnight-old ascending resistance line can prod bulls; sellers have a long road to travel before retaking control. (FXStreet) GBP/USD has shown a solid recovery to near 1.2550 after the release of better-than-anticipated UK Employment data. UK Claimant Count Change has dropped by 13.6K and the unemployment rate has slipped to 3.8%. The US headline CPI pace is seen decelerating to 0.2% while the pace in core inflation might remain steady at 0.4%. (FXStreet) EUR/GBP eases from intraday high as Pound Sterling rises past UK data. UK Claimant Count Change slumps, ILO Unemployment Rate eases. Final readings of Germany’s inflation, per HICP, remains unchanged to 6.3% YoY in May. Market’s cautious mood ahead of US inflation limits reaction to the British job numbers, German inflation data. (FXStreet) USD/CHF takes offers to refresh intraday low, snaps two-day winning streak. Bearish MACD signals, downside break of key moving average tease Swiss Franc pair bears. Convergence of 50-HMA, immediate rising support line challenge sellers. (FXStreet) NZD/USD regains positive traction on Tuesday and climbs to a nearly three-week high. A combination of factors weighs on the USD and remains supportive of the momentum. Traders now look to the US CPI for a fresh impetus ahead of the FOMC on Wednesday. (FXStreet) USD/IDR sticks to mild losses for the second consecutive day as Indonesia Retail Sales growth eases. Broad US Dollar weakness amid Fed concerns, China news weighs on Indonesia Rupiah. US CPI, Fed bets and risk catalysts eyed for clear directions. (FXStreet) WTI prices retreated markedly on Monday against the backdrop of increasing open interest and volume. That said, further decline appears in store in the very near term with the immediate target at the 2023 low in the suib-$64.00 mark per barrel (May 4). (FXStreet) Prices of natural gas climbed modestly at the beginning of the week. However, the uptick was on the back of diminishing open interest and rising volume, exposing the continuation of the current multi-week consolidation range. In the meantime, occasional bullish attempts should meet the initial up-barrier around monthly highs near the $2.40 mark per MMBtu (June 8). (FXStreet) Gold price attracts some buyers on Tuesday and draws support from a softer US Dollar. Bets for a pause in the Fed’s rate-hiking cycle weigh on the US bond yields and the buck. Economic woes further lend support to the XAU/USD ahead of the crucial US CPI report. (FXStreet) Silver catches fresh bids on Tuesday and recovers a major part of the overnight losses. The technical setup favours bullish traders and supports prospects for additional gains. A convincing break below the 2 (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-06-12 09:45

EUR/USD has shown a perpendicular recovery to near 1.0784 as investors have underpinned the risk appetite theme. US headline CPI is seen softening due to lower oil prices while core inflation is expected to remain persistent. EUR/USD had strongly rebounded after sensing buying interest near the 61.8% Fibonacci retracement at 1.0738. (FXStreet) USD/CAD turns lower for the fifth straight day and is pressured by renewed USD selling. Bearish Crude Oil prices could undermine the Loonie and help limit losses for the major. Traders also seem reluctant ahead of the US CPI on Tuesday and the FOMC on Wednesday. (FXStreet) The index appears somewhat offered around 103.40. Cautiousness is expected to increase ahead of CPI, Fed. The Monthly Budget Statement will be the sole release on Monday. The greenback, when measured by the USD Index (DXY), starts the week slightly on the defensive and around the 103.40 region. (FXStreet) USD/CHF is facing fragile barricades around 0.9040 amid a marginal correction in the USD Index. Market mood is cheerful on hopes that the Fed would skip hiking interest rates on Wednesday. SNB Jordan believes that the central bank should not wait for increasing inflation but should act now by raising interest rates. (FXStreet) GBP/JPY sticks to mild gains at the highest levels since January 2016. Mixed concerns about the UK’s growth fail to tease sellers as BoJ officials keep defending easy money policy. Bond markets portray heavy selling pressure ahead of the key central bank decision. Downbeat Japan PPI adds strength to bullish bias ahead of UK employment data, BoJ monetary policy meeting. (FXStreet) EUR/JPY is oscillating in a narrow range below 150.00 as ECB/ BoJ policy has come under the spotlight. ECB Lagarde would raise rates to 4% despite galloping signs of a recession in the Eurozone. The BoJ might let the monetary policy (FXStreet) USD/JPY is consolidating above 139.00 as Fed/BoJ policy comes into the picture. Market sentiment is quite positive as the odds of a neutral policy stance by the Fed are extremely solid. The interest rate policy by the BoJ is expected to remain unaltered as more monetary stimulus is required to keep inflation steadily above 2%. (FXStreet) GBP/USD is looking to come out of the woods for a break towards 1.2600 amid a mild correction in the USD Index. Overall market sentiment is quite positive as a pause in the policy-tightening spell by Fed is easing fears of a US recession. The speech from BoE Bailey is likely to provide cues about the likely monetary policy action. (FXStreet) AUD/USD gains positive traction for the third straight day and climbs to a fresh one-month high. The RBA’s hawkish outlook and a positive risk tone push spot prices beyond the 100-day SMA. The Fed rate hike uncertainty and economic woes might cap any meaningful upside for the pair. Traders might also prefer to wait ahead of the US CPI on Tuesday and the FOMC on Wednesday. (FXStreet) NZD/USD holds steady above 0.6100, though a modest USD strength caps any further gains. An intraday uptick in the US bond yields lends support to the buck and acts as a headwind. Traders also seem reluctant ahead of the US CPI on Tuesday and the FOMC on Wednesday. (FXStreet) USD/MXN fades bounce off the lowest level since May 2016. Fortnight-old support line, oversold RSI (14) line challenge Mexican Peso buyers. 50-SMA restricts short-term USD/MXN upside ahead of the key 200-SMA hurdle. Multiple support lines, year 2016 bottom stand tall to challenge pair sellers. (FXStreet) USD/TRY refreshes all-time high amid two-day winning streak, grinds near the top of late. US Dollar pares recent losses as traders reassess Fed bets ahead of US inflation. Cautious mood, pre-event positioning also favor greenback buyers amid sluggish start to the key week. Preparations for more rate hikes from newly appointed CBRT Governor, geopolitical tension in Turkiye also justify Turkish lira’s latest fall. (FXStreet) Prices of WTI dropped for the second consecutive session on Friday. The downtick came amidst shrinking open interest and volume and removes strength for a sustained decline for the time being. In the meantime, the next support of note is expected around the late May low near the $67.00 mark per barrel. (FXStreet) Friday’s pullback in prices of natural gas came on the back of declining open interest and volume, allowing for some bounce in the short-term horizon. On this, the immediate up-barrier is seen at the $2.40 region per MMBtu, where the 100-day SMA and the monthly high converge. (FXStreet) Gold price reverses a modest intraday dip, though the upside remains capped. The US Dollar struggles to preserve its gains and lends support to the XAU/USD. Traders keenly await the US CPI report and key central bank event risks this week. (FXStreet) Silver price has sensed barricades around $24.20 as the focus shifts to the US Inflation. Catalysts that are supporting more rate hikes by the Fed are persistence in core CPI and a recovery in US lending activities. Silver price showed a vertical sell-off after the formation of the Double Top pattern. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.

2023-06-09 09:48

EUR/USD remains sidelined near 1.0780-75 as it consolidates the biggest daily jump since March heading into Friday’s European session. In doing so, the Euro pair portrays the market’s sluggish momentum amid a light calendar and positioning for the next week’s top-tier data/events. Additionally, trader’s recheck of the previous concerns about the European Central Bank (ECB) and the Federal Reserve (Fed) concerns also prod major currency pair buyers of late. (FXStreet) The GBP/USD pair has resumed its upside journey towards the round-level resistance of 1.2600 after a small intervention around 1.2560 in the early London session. Sheer strength in the Cable has been built due to a significant decline in the US Dollar Index (DXY). (FXStreet) USD/CHF bears take a breather at the lowest level in a fortnight, making rounds to 0.8990 heading into Friday’s European session. In doing so, the Swiss Franc (CHF) pair jostles with the 50-DMA support to extend the previous day’s fall, the biggest in seven months. (FXStreet) The USD/JPY pair stages a goodish intraday recovery from a fresh weekly low, around the 138.75 region touched this Friday and builds on its steady intraday ascent through the early part of the European session. Spot prices climb further beyond the mid-139.00s in the last hour, reversing a major part of the overnight losses. (FXStreet) The AUD/USD pair reverses an intraday dip to sub-0.6700 levels and climbs to over a four-week high during the early part of the European session on Friday. Spot prices, however, struggle to capitalize on the move and currently trade around the 0.6710-0.6715 region, nearly unchanged for the day. (FXStreet) The NZD/USD pair has delivered a solid recovery from 0.6085 in the early European session. The Kiwi asset is aiming to recapture the round-level resistance of 0.6100 as the US Dollar Index (DXY) has retreated after a short-lived pullback to near 103.42. (FXStreet) USD/CAD takes offers to 1.3360 while reversing from the intraday high as it prepares for Canada employment data for May on early Friday. In doing so, the Loonie pair fails to justify a halt in the US Dollar’s fall, as well as the mixed performance of the Oil price, amid dicey market hours. (FXStreet) The AUD/JPY pair is marching towards the crucial resistance of 94.00 as investors are hoping that the Reserve Bank of Australia (RBA) would keep raising interest rates to tame stubborn inflation. The cross was consolidating in a narrow range of 93.00-93.50 for the past two trading sessions but has come outside of the woods as more interest rate hikes by RBA Governor Philip Lowe would widen the RBA-Bank of Japan (BoJ) policy divergence. (FXStreet) The EUR/JPY pair is holding its auction confidently above the psychological resistance of 150.00 in the early European session. The cross is holding itself in the bullish trajectory as the European Central Bank (ECB) is committed to raising interest rates further for taming stubborn inflation despite deepening fears of a recession in the Eurozone. (FXStreet) GBP/JPY stays on the front foot for the third consecutive day around 175.20 as it rises to the fresh high since January 2016 heading into Friday’s London open. In doing so, the cross-currency pair justifies the early week’s rebound from a lower line of the rising wedge bearish chart pattern established in late February. (FXStreet) The EUR/GBP pair has shown a recovery move after finding buying interest near 0.8580 in the early European session. The cross has rebounded despite the Eurostat reported a contraction in final Q1 Gross Domestic Product (GDP) numbers. (FXStreet) USD/TRY stays on the front foot around the all-time high below 24.00, close to 23.50 by the press time heading into Friday’s European session. In doing so, the Turkish Lira (TRY) sellers portray a cautious mood as the nation’s recently re-elected President Tayyip Erdogan appoints a new Governor of the Central Bank of the Republic of Türkiye (CBRT). (FXStreet) The USD/INR pair oscillates in a narrow trading band through the Asian session on Friday and is currently placed around the 82.50 region, nearly unchanged for the day. (FXStreet) USD/CNH clings to mild gains around 7.1230 as it struggles to justify the latest inflation report from China early Friday. Not only the mixed results of inflation clues but the US Dollar’s consolidation also trouble the offshore Chinese Yuan (CNH) pair traders. That said, the pair initially refreshed the daily high to 7.1282 amid the first impressions of the data before falling to 7.1215 by the press time. (FXStreet) Prices of the WTI retreated markedly on Thursday on the back of shrinking open interest, which removes some strength for the prospects for a deeper drop in the very near term. In the meantime, further rebound is expected to meet the next hurdle around the monthly high near the $75.00 mark per barrel (June 5). (FXStreet) Prices of the natural gas clinched the fourth consecutive session with gains on Thursday. The uptick, however, was in tandem with diminishing open interest and unveils the likelihood of a potential corrective move in the very near term. Looking at the broader scenario, the commodity remains well stuck within the consolidative range in place since late March. (FXStreet) Gold price struggles to capitalize on the previous day's solid rebound from the 100-day Simple Moving Average (SMA) support near the $1,940-$1,939 area and oscillates in a narrow trading band on Friday. The XAU/USD currently trades near the top end of its weekly range, around the $1,965 region, nearly unchanged for the day heading into the European session. (FXStreet) Silver builds on the previous day's strong rally and gains some follow-through traction for the second successive day on Friday. The buying interest picks up pace during the early European session and lifts the white metal to a nearly one-month top, around the $24.40 region in the last hour. (FXStreet) Source: FXStreet Disclaimer: This information does not represent a BUY or SELL recommendation on the stock covered. Traders and Investors are encouraged to do their own analysis on stocks instead of blindly following any Trading calls raised by various parties on the Internet.