The dollar and the Japanese yen rose on Friday as U.S. stocks rebounded to positive territory, although analysts see many persisting risks for markets, including trade tensions, Italy’s budget woes, geopolitical uncertainties and concerns about U.S. corporate earnings.

The U.S. dollar is trading at 112.19 versus the Japanese yen, a safe haven currency.

The euro traded marginally lower at $1.1366 on Friday. It hit a two-month low of $1.1353 the previous session, following European Central Bank President Mario Draghi’s failure to convince traders the ECB could pursue monetary tightening after next summer as political and economic uncertainties grow in the monetary union.

Sterling traded marginally higher at $1.2818 after it hit a six-week low of $1.280 on Thursday following Draghi’s comments that the private sector needed to prepare for the possibility that Britain could exit the European Union with no deal on future relations.

The main event in the calendar today are the US Q3 Preliminary GDP figures due at 12:30 GMT and will no doubt see plenty of Greenback-based action. If the reading is lower than expectations, investors will worry about economic growth momentum and whether that could possibly lead to a change in the Federal Reserve’s monetary tightening path.

Gold prices inched up Friday morning in Asia, heading towards a fourth straight weekly gain. Driving up demand for the safe-haven asset was a fall in Asian stock markets Friday morning despite a rebound in U.S. stocks overnight. Markets in the region are concerned about frictions between the U.S. and China as well as a slowdown in Chinese economic growth. Also weighing on investors is an Italian budget that the European Commission rejected. These concerns have been driving investors out of Asian stocks and boosting demand for gold.

Oil prices fell on Friday as China ordered at least two state-owned oil companies to stop buying Iranian oil. U.S. sanctions against Iran is scheduled to take effect from Nov. 4 and earlier reports suggested that Washington is seeking to eventually reduce Iran’s exports sales to zero and isolate the Islamic Republic.