EUR/USD
The EUR/USD pair trades on a softer note around 1.0375 during the Asian session on Friday. The uncertainty surrounding US trade policy and the risk-off sentiment weigh on the Euro (EUR). Traders will keep an eye on the German Industrial Production ahead of US Nonfarm Payrolls (NFP) on Friday.
GBP/USD
The GBP/USD pair struggles to capitalize on the overnight bounce from a multi-day low and trades with a mild negative bias, around the 1.2425 area during the Asian session on Friday. This marks the second straight day of a downtick, though it lacks follow-through as traders seem reluctant to place aggressive bets and opt to wait for the release of the US monthly jobs data.
USD/JPY
USD/JPY rebounds from nearly two-month low, regaining 151.50 in the Asian session on Friday. Despite the upswing, risks appear skewed to the downside for the pair amid bets that the BoJ will keep raising interest rates and the prospects for further easing by the Fed. US NFP data is next of note.
AUD/USD
AUD/USD has found fresh buyers and looks to regain the 0.6300 mark early Friday. A subuded US Dollar performance aids the pair but traders remain cautious ahead of the US NFP report and amid increased bets for a February RBA interest rate cut.
NZD/USD
The NZD/USD pair trades firmer near 0.5680 during the Asian trading hours on Friday. However, the upside for the pair might be limited ahead of the highly anticipated US Nonfarm Payrolls (NFP) data for January, which is due later on Friday.
USD/CAD
The USD/CAD pair remains silent around 1.4310 during the Asian session on Friday. Buyers and sellers are unsure about the asset’s long term direction.
USD/CHF
The USD/CHF reversed course and trimmed some of its weekly losses, posting gains of over 0.36%. At the time of writing, it was exchanged at 0.9048.
US jobs data showed that more people than expected applied for unemployment benefits, which could be linked to the Los Angeles wildfires and the weather. In the meantime, traders braced for the release of US Nonfarm Payroll figures on Friday.
CRUDE OIL
Oil and gas traders are likely to seek waivers from Beijing over tariffs that the Chinese government plans to impose on U.S. crude and liquefied natural gas (LNG) imports from February 10, trade sources said on Thursday.
Gold price is resuming its record-setting rally early Friday after taking a brief pause a day ago. However, Gold buyers stay cautious in the run-up to the critical US Nonfarm Payrolls (NFP) data release.
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