US dollar
Risk is in a tough spot to start the session ahead, with the mood weighed down by Trump’s executive orders against Chinese companies ByteDance and Tencent. The dollar is firmer across the board and Treasuries are more bid as a result, while gold and silver are off their earlier highs, ahead of the U.S. non-farm payrolls report.
Against the euro, the dollar stood at $1.1846 on Friday, while the British pound bought $1.3124, not far from its strongest level since March. Against the yen, which is also considered a safe currency, the dollar traded at 105.51, not far from a four-month low.
Oil prices weakened Friday, amid uncertainty over the new stimulus package in the U.S. and the impact that would have on fuel demand growth given the recent resurgence of coronavirus infections.
Elsewhere, spot gold rose 0.2% to $2,061.40/oz, retreating a touch after hitting a record $2,077.85 an ounce earlier in the session. Gold has rallied more than 33% in 2020, putting it on track for the biggest annual gain in over four decades.
The main focus of the day is the NFP report coming at 12:30 GMT. The headline NFP is expected to show that the US economy added 1.6 million jobs in July as compared to 4.8 million in the previous month. Meanwhile, the unemployment rate is expected to edge lower to 10.5% from 11.1%. A disappointing reading will further fuel worries that the US labour market recovery was faltering and may prompt some fresh USD selling.