EUR/USD inching higher to 1.0650, US data eyed
EUR/USD keeps its buoyancy intact on Friday, currently navigating the mid-1.0600s ahead of key releases in the US docket.The pair sticks to the bullish note for the fourth consecutive week so far, looking to break above the critical resistance band around 1.0650 on a more sustainable basis and always against the backdrop of a persistent bias around the buck.Speculative positioning, scepticism over the ability of the Trump?s administration to eventually deliver measures to boost further the US economy and a dubious FOMC have been weighing on the greenback since the start of the new year, sparking at the same time the ongoing correction higher in spot, which has already gained 3 cents since 14-year lows near 1.0340 seen on January 3.Looking ahead, USD will remain in centre stage in light of the upcoming US Retail Sales (0.7% exp.) and the Reuters/Michigan Index (98.5 exp.).The pair is now gaining 0.32% at 1.0646 facing the next hurdle at 1.0658 (high Jan.13) ahead of 1.0687 (high Jan.12) and finally 1.0798 (high Dec.5). On the other hand, a breakdown of 1.0508 (low Jan.9) would target 1.0495 (20-day sma) en route to 1.0452 (low Jan.11).

GBP/USD retreats over 50-pips from highs, back below 1.2200 handle
Sell on rallies remains the key theme surrounding the British Pound, with the GBP/USD pair retreating over 50-pips from session peak near 1.2230 region.Currently trading around 1.2175-80 region, the pair managed to staged a goodish recovery on Friday amid prevalent bearish tone surrounding the US Dollar in wake of disappointment from President-elect Donald Trump's first news conference. The recovery momentum, however, once again lost steam at higher levels as investors remain worried over increasing possibilities of a 'hard Brexit'. Also on Thursday, the pair witnessed a sharp reversal of over 150-pips on news of UK Prime Minister Theresa May's upcoming speech that could unveil her plans for ending Britain's membership with the European Union.In the meantime, the release of monthly retail sales data, PPI print and Prelim UoM Consumer Sentiment index from the US might provide some impetus for short-term traders during early NA session on Friday."A recovery above 1.2210 could see the pair extending its gains up to 1.2280, with further upward momentum exposing 1.2330 a major static resistance level where selling interest is expected to resume. Below 1.2140, the daily low, the decline will likely extend down to 1.2080, whilst beyond this last, 1.2037, the weekly low comes next."

USD/JPY unchanged around 114.60 ahead of US data
The greenback is alternating gains with losses vs. its Japanese peer on Friday, with USD/JPY hovering over the 114.65/60 band.The pair is extending its bearish fashion this week, losing ground since Monday although recovering from yesterday?s multi-week troughs in sub-114.00 levels.The softer tone in the buck and declining US yields have been behind the pair?s sharp downside from Monday?s tops in the mid-117.00s, particularly following the recent press conference by US president-elect Donald Trump.Later in the NA session, US Retail Sales are seen expanding at a monthly 0.7% in December, while the US Consumer Sentiment tracked by the Reuters/Michigan Index is expected to have improved to 98.5 during the current month. As of writing the pair is retreating 0.09% at 114.60 facing the next support at 113.73 (low Jan.12) followed by 112.92 (55-day sma) and finally 111.98 (38.2% Fibo of the November-December 2015 up move). On the other hand, a break above 115.53 (high Jan.12) would aim for 116.70 (20-day sma) and then 117.53 (high Jan.9).

USD/CAD sinks to lows near 1.3130 amid renewed USD weakness
The USD/CAD pair stalled recovery move from Thursday's nearly three-month and has now retreated around 30-pips from session peak.Currently hovering around 1.3130 region, testing session lows, a fresh bout of US Dollar selling pressure failed to assist the pair to extend overnight recovery movement of over 100-pips from the lowest level since Oct. 19. However, weaker sentiment around oil market, with WTI crude oil losing over 1% and sinking to session lows near $52.40, is weighing on the commodity-linked currency - Loonie, and seems to restrict further downslide. Next on tap would be US macro data that includes - monthly retail sales, PPI print and Prelim UoM Consumer Sentiment index, which might provide some short-term trading opportunities. In the meantime, oil price dynamics would also influence the major and hence, focus would also be the weekly report on US rig counts by Baker Hughes.A follow through selling pressure below session low support near 1.3130 level is likely to accelerate the slide back towards 1.3100 round figure mark, also coinciding with the very important 200-day SMA. A convincing break back below 200-day SMA would turn the pair vulnerable to head back towards 3-month lows support near 1.3030 region, with some intermediate support near 1.3050-55 area.On the upside, 1.3170-75 area now seems to have emerged as immediate hurdle, which if cleared is likely to accelerate the recovery move towards 1.3210-15 resistance, en-route 1.3240-50 strong resistance.

EUR/JPY poised for further upside in the next months Rabobank
Jane Foley, Head of FX Strategist at Rabobank, expects the cross to edge higher during the current year.?The rally which drove EUR/JPY higher in November ran out of steam in early December. European political uncertainty has the capacity to boost volatility and push EUR/JPY lower in the coming months?.?However, it is our central scenario that centrist governments will prevail after the Dutch, French and German elections this year and this suggests there is scope for a relief rally in the EUR, particularly after the second round of the French Presidential election on 7 May?.?This factor combined with the improvement in recent Eurozone inflation and an unemployment data releases suggests the potential for moderate upside in EUR/JPY over the course of this year?.?While the ECB has announced a commitment to QE for the duration of 2017, recent better data has re-opened the debate in Germany about whether policy settings are too easy?.?By contrast, despite the optimism expressed by BoJ Governor Kuroda regarding the potential for the Japanese economy to benefit on the tail wings of strengthening global growth, there is little sign that the central bank is preparing to move away from its extremely accommodative position. We see potential for EUR/JPY to move back towards the 126 area medium-term?.

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