EUR/USD
The EUR/USD pair softens to around 1.1290 during the early Asian session on Friday. The US Dollar (USD) edges higher against the Euro (EUR) amid optimism about a de-escalation in the global trade conflict. All eyes will be on the US April Nonfarm Payrolls (NFP) report, which is due later on Friday.
GBP/USD
The GBP/USD pair drifts lower to near 1.3275 during the Asian trading hours on Friday. The positive developments surrounding US-China trade talks provide some support to the US Dollar (USD). Investors will closely monitor the US April employment report later on Friday, including the Nonfarm Payrolls (NFP), the Unemployment Rate and Average Hourly Earnings.
USD/JPY
USD/JPY extends retreat from near a three-week top just shy of 146.00 ahead of the US NFP report due later this Friday. A renewed US Dollar downside weighs on the pair even as the BoJ’s dovish outlook and a generally positive risk tone, bolstered by US-China trade deal hopes, continue undermining the Japanese Yen.
AUD/USD
AUD/USD is trading on the front foot, eyeing 0.6450 in Friday’s Asian session, following the release of mixed Australian PPI and Retail Sales data. Hopes for US-China trade negotiations act as a tailwind for the Aussie. Traders await the US NFP report and the weekend’s Australian election.
NZD/USD
NZD/USD is recovering its losses from the previous session, trading around 0.5930 during the Asian hours on Friday. The pair strengthens as the New Zealand Dollar (NZD) gains traction amid improving sentiment and signs of easing US-China trade tensions, given New Zealand’s close trading relations with China.
USD/CAD
USD/CAD is slipping during Friday’s Asian session, trading near 1.3830, after posting gains in the prior session. The pair is under pressure as the US Dollar (USD) stalls following a three-day rally, with investors eyeing the upcoming Nonfarm Payrolls (NFP) report for clues on how tariffs may be influencing employment trends.
USD/CHF
The USD/CHF is trading with gains, extending its recovery into the upper 0.8900s after a busy Thursday filled with US economic data and renewed Fed rate cut speculation. Although the ISM Manufacturing PMI and jobless claims reports pointed to continued labor market fragility and sector contraction, the greenback held firm, supported by a stable US Dollar Index and risk-sensitive flows ahead of Friday’s nonfarm payrolls report.
CRUDE OIL
Oil prices climbed on Friday after China said it was open for talks with the United States on tariffs, raising hopes of a de-escalation in a bitter trade war between the world’s two largest economies.
Gold price is nursing weekly losses early Friday, and it is on track to book its worst week in over two months. Gold buyers refuse to give up, anticipating the high-impact US Nonfarm Payrolls data due later this Friday for a fresh directional impetus.
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