US and China tradeU.S. stock futures slid and the yen rose against the dollar on Friday after U.S. President Donald Trump proposed additional tariffs on China, aggravating trade tensions and smothering a revival in broader investor risk appetite. Trade tensions returned to the fore after Trump said late on Thursday that he had instructed U.S. trade officials to consider $100 billion in additional tariffs on China, fuelling the trade dispute between the world’s two economic superpowers.

Financial markets are focused on non-farm payrolls report, which could determine the pace of future Federal Reserve interest rate rises and consequently the dollar outlook.

In Currencies, dollar, which had risen to a one-month high against the yen on an earlier easing of trade fears, slipped against its yen peer after Trump’s latest trade offensive. The greenback was down 0.3 percent at 107.080, pulling back from 107.490, its highest since March 1. EURUSD rose 0.1 percent to $1.2248.

In Commodities, Crude oil prices fell as risk aversion gripped the broader markets. U.S. crude slipped 0.6 percent to 63.14 a barrel and Brent was down 0.55 percent at 67.94 a barrel.

Forex market economic is ending today with a focus on important economic data related to the economies of US and Canada. The key economic event for today is the US Non-Farm Payrolls the Unemployment Rate in Canada, BOE Gov Carney Speech Fed Chair Powell Speech. High volatility and price actions is expected for the US Dollar, GBP and especially for the USD/CAD currency pair.