FXStreet

On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.7168 compared to the previous day's fix of 6.7156.

Japanese Prime Minister Sanae Takaichi said on Friday that the government will focus on measures to strengthen the economy by enhancing areas with competitive edge.

US President Donald Trump said that Iran cannot do anything pertaining to its nuclear program without approval from the United States (US), the Times of Israel reported on Thursday.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $90.15 during the early European trading hours on Thursday. WTI gains traction as traders assess the outlook for US-Iran relations following the US midterm elections and recovering oil supplies from the Middle East.

Gold price (XAU/USD) jumps to a more than two-week high near $4,085 during the early Asian session on Friday, bolstered by a weaker US Dollar (USD) and lower oil prices. Traders will closely monitor the US September employment report for clues on rate policy, due later on Friday.

The Australian Dollar collapsed over 1% on Thursday as risk appetite soured and US tech stocks sold off, while strong US jobs data boosted the US Dollar ahead of Friday’s crucial Nonfarm Payrolls report. The AUD/USD trades at 0.6931, after peaking at 0.7024.

The Yen is gaining on a Dollar that is up against the Pound, the Euro, the Kiwi and the Aussie on Thursday. Bank of Japan (BoJ) minutes that read as a case for a December hike did it, with help from a fall in US technology stocks.

New Zealand votes on Saturday with the Kiwi back where it was before the Dollar fell to a one-month low on US midterm results. NZD/USD rose above 0.5650 on Thursday and has fallen to the session low just under 0.5600.

Eurozone producer prices rose 11.1% from a year earlier in September, and European Central Bank (ECB) President Lagarde said the data between now and December will decide a hike. The Euro has fallen anyway, against a Dollar that has recovered part of Wednesday's drop.

The Bank of England (BoE) raised the UK's Bank Rate to 4% on Thursday, as the market had fully priced, and the Pound's six-session climb has stopped just above 1.3500. GBP/USD reached that level on Wednesday, its highest since mid-September, got there again on Thursday and is trading near 1.3450.

The Mexican Peso depreciates against the US Dollar after the Bank of Mexico (Banxico) unexpectedly cut interest rates in what it called a “one-time adjustment.” The USD/MXN trades at 19.74, yet it touched a daily low of 18.96.

Ethereum (ETH) falls 7% to $2,230 on Thursday as AI stock sell-offs spilled into the crypto market.

Wednesday was the Dow Jones Industrial Average's best session since April 2025 and Thursday is on track to be its worst since the same month, on the same election result. The index trades just above 51,500, below Tuesday's close and at its lowest since October 14.

Societe Generale analysts Frank Benzimra, Michelle Lam and Kiyong Seong argue that the renminbi is nearing its peak as the PBoC pushes back against one-sided CNY strength. They expect USD/CNY to bottom at 6.60 in 1Q27, citing higher FX reserve requirements and potential fixing adjustments as key tools. Domestic liquidity and low inflation support slightly lower Chinese rates.

Gold (XAU/USD) climbs some 1% on Thursday as the Greenback edges lower amid solid US data and hawkish comments by Federal Reserve (Fed) officials. The XAU/USD trades above $4,100 after bouncing off daily lows of $4,057.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD slipped as the US Dollar softened after the US midterm elections, with the pair closing near 1.2795.

On Thursday, the Bank of Mexico – known as Banxico for its Spanish acronym – cut rates by 25 basis points to 6.25%, in an unexpected move that caught market participants off guard, who had expected rates to remain unchanged at 6.50%.