Here is what you need to know on Friday, February 9:
The US Dollar (USD) gathered strength against its rivals on Thursday as US yields stretched higher. The lack of risk aversion, as reflected by the resilience of US stock indexes, however, made it difficult for the currency to outperform its rivals later in the day. There won't be any high-tier data releases from the Euro area nor the US on Friday. Statistics Canada will release January jobs report in the early American session.
Canada Jobs Report Preview: Unemployment rate forecast to rise.
The USD Index holds steady slightly above 104.00 in the European morning on Friday and the 10-year US T-bond yield moves sideways at around 4.15%. After Wall Street's main indexes registered small gains on Thursday, US stock index futures trade marginally lower.
US Dollar price this week
The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.04% | 0.00% | -0.09% | 0.03% | 0.56% | -1.09% | 0.86% | |
| EUR | -0.04% | -0.04% | -0.13% | -0.02% | 0.52% | -1.13% | 0.82% | |
| GBP | 0.00% | 0.04% | -0.09% | 0.03% | 0.56% | -1.08% | 0.86% | |
| CAD | 0.10% | 0.14% | 0.09% | 0.12% | 0.65% | -1.00% | 0.95% | |
| AUD | -0.03% | 0.02% | -0.02% | -0.12% | 0.54% | -1.11% | 0.83% | |
| JPY | -0.57% | -0.53% | -0.58% | -0.65% | -0.53% | -1.67% | 0.30% | |
| NZD | 1.08% | 1.12% | 1.08% | 0.99% | 1.10% | 1.63% | 1.93% | |
| CHF | -0.87% | -0.83% | -0.88% | -0.97% | -0.84% | -0.30% | -1.97% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
Markets expect the Unemployment Rate in Canada to tick up to 5.9% in January and see the Net Change in Employment coming in at +15K following December's uninspiring 0.1K increase. USD/CAD fluctuates at around 1.3450 ahead of the labor market data.
EUR/USD staged a rebound in the second half of the day on Thursday and to close virtually unchanged. The pair fluctuates in a tight channel below 1.0800 early Friday. Italy's Industrial Output data for December will be released later in the European session. Meanwhile, Germany's Destatis confirmed that the annual Consumer Price Index rose 2.9% in January.
Following a two-day rebound, GBP/USD lost its bullish momentum on Thursday and registered small losses. Nevertheless, the pair holds steady above 1.2600 in the early European session on Friday.
USD/JPY rose sharply on Thursday and touched its highest level since late November above 149.00. The pair stays in a consolidation phase below 149.50 to begin the last trading day of the week.
Gold struggled to make a decisive move in either direction for the second straight day on Thursday. In the European session on Friday, XAU/USD continues to move up and down in a narrow band above $2,030.
AUD/USD closed in negative territory on Thursday but recovered above 0.6500 in the Asian session. NZD/USD gained traction early Friday and was last seen rising more than 0.5% on the day at around 0.6100.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD extends recovery beyond 1.0400 amid Wall Street's turnaround
EUR/USD extends its recovery beyond 1.0400, helped by the better performance of Wall Street and softer-than-anticipated United States PCE inflation. Profit-taking ahead of the winter holidays also takes its toll.
GBP/USD nears 1.2600 on renewed USD weakness
GBP/USD extends its rebound from multi-month lows and approaches 1.2600. The US Dollar stays on the back foot after softer-than-expected PCE inflation data, helping the pair edge higher. Nevertheless, GBP/USD remains on track to end the week in negative territory.
Gold rises above $2,620 as US yields edge lower
Gold extends its daily rebound and trades above $2,620 on Friday. The benchmark 10-year US Treasury bond yield declines toward 4.5% following the PCE inflation data for November, helping XAU/USD stretch higher in the American session.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Bank of England stays on hold, but a dovish front is building
Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.