Pound (GBP) rangebound in quiet trade
The pound (GBP) was trapped in a narrow range against most of its peers yesterday, with the currency struggling to find direction amid a lull in UK economic indicators.
This was compounded as stable conditions across the UK bond market also limited trade impetus in Sterling.
UK data remains in short supply today, leaving movement in the pound to be driven by wider market trends.
Euro (EUR) slides following shock slump in retail sales
The euro (EUR) faced headwinds on Thursday, on the back of mixed Eurozone economic data.
While Germany factory orders smashed expectations with a 3.1% expansion in June, this was attributed to temporary factors which, coupled with a shock decline in Eurozone retail sales over the same period, pulled the single currency lower.
The euro risks further losses today as data published this morning shows a slowdown in German industrial production at the end of the second quarter.
US dollar (USD) firms ahead of key payroll data
The US dollar (USD) traded with modest support yesterday, as growing doubts over a potential US-Iran ceasefire buoyed safe-haven demand.
The uptick in USD was then reinforced by the latest US jobs data, as initial jobless claims at the end of July held below 200,000 for the third consecutive week.
Closing out this week's session is the publication of the latest non-farm payroll report. Could another weak US employment report sink bets for a Federal Reserve interest rate hike next month and spark a USD selloff?
Canadian dollar (CAD) steady amid uptick in oil prices
The commodity-linked Canadian dollar (CAD) held its ground on Thursday, as Brent oil climbed back above $80 a barrel.
Canada's latest employment data could drag on the 'loonie' later today if July's figures point to a slowdown in employment growth last month.
Australian dollar (AUD) subdued in cautious trade
The Australian dollar (AUD) wavered through Friday's Asian trading session, as Middle East uncertainty and caution ahead of this afternoon's US payroll report limited market risk appetite.
New Zealand dollar (NZD) flat amid market risk aversion
The New Zealand dollar (NZD) was also muted in overnight trade, as investors erred on the side of caution.
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