Gold steadied and was set for a moderate weekly loss as investors assessed the outlook for Federal Reserve rate cuts after resilient US jobs and retail data eased concerns about the economy.

The U.S. dollar drew support from elevated Treasury yields on Wednesday, which in turn kept pressure on the yen after the latest U.S. inflation report showed signs that President Donald Trump's tariffs were beginning to feed into prices.

Flurry of financial sector reports expected to show investment banking still in the doldrums for another quarter

Only "a couple" of officials at the US Federal Reserve's June 17-18 meeting said they felt interest rates could be reduced as soon as this month, with most policymakers remaining worried about the inflationary pressure they expect to come from President Donald Trump's tariffs.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is retracing its recent gains from the previous session and hovering around 98.50 during the Asian hours on Friday. Traders will likely observe the University of Michigan Consumer Sentiment, Building Permits, and Housing Starts later in the day.

Rochester banking leaders share insights on inflation, interest rates and local resilience amid 2025 economic and trade policy uncertainty.

RBA rate cut fears and slowing Aussie jobs data weigh on AUD/USD, with China’s trade outlook and Fed policy in sharp market focus.

UBS expects the US economy to slow significantly in 2025, projecting real GDP growth to fall to around 1%. In a note to clients issued Tuesday, the bank pointed to a combination of fading fiscal support, elevated interest rates, and persistent inflation as key drivers of the expected deceleration.

Japanese companies are taking U.S. tariffs in their stride for now, but worry about a potential hit from weakening global demand, the central bank said on Thursday, signalling a prolonged pause in interest rate hikes.

The ringgit slipped 0.01 per cent against the US dollar at the close, as the local note continued trading on the defensive today, which offered