News forex today: The rally in risky assets, fueled by weak US inflation data in the middle of the week, has waned and market dynamics have become volatile ahead of the weekend. The US dollar index is moving in a narrow channel above the 105.00 level; the 10-year US bond yield is holding above 2.8% and the US stock index futures are making a small intraday gain after Thursday’s mixed Wall Street dynamics. 

Forex news daily: what is going on in the currency market?

EUR/USD registered a small intraday gain on Thursday and appears to have moved to secure just above the 1.0300 mark on Friday.

GBP/USD continues to oscillate in a narrow channel near 1.2200 in the early European morning as investors evaluate the latest released data. The U.K. The Office for National Statistics reported Friday that the country’s gross domestic product fell 0.1% quarter-over-quarter in the second quarter. Also, industrial production and manufacturing output fell 0.9% and 1.6% month-over-month in July, respectively.

Gold closed flat Thursday and remains under pressure near $1,790 early Friday, while U.S. Treasury yields remain resilient during the European session.

The USD\/JPY pair rebounded after falling below 132.00 on Thursday, but it didn’t gain momentum. The pair is now clinging to modest intraday gains, trying to climb to 133.50.

Rising crude oil prices are supporting the commodity-sensitive Loonie and the USD/CAD pair continues to decline to 1.2700 on Friday. A barrel of West Texas Intermediate crude is up more than 6% this week.

Earlier we reported that the dollar is falling faster than expected after the inflation data.