The Canadian Dollar (CAD) saw firm gains in employment figures on Friday, with an overall net increase in Canadian employment thumping median market forecasts for a contraction.

The Mexican Peso (MXN) is experiencing its third consecutive day of gains against the US Dollar (USD) on Friday, pushing the USD/MXN exchange rate to its lowest level in eight months.

EUR/USD trip down extends its losses on Friday after hitting a six-week high near 1.1500 as Nonfarm Payroll figures in the United States (US) came in stronger than expected despite cooling off.

Silver (XAG/USD) is experiencing another day of positive gains, which has pushed prices to $36.00, its highest level since February 2012, providing a firm barrier of resistance. 

The Australian Dollar (AUD) is weakening against the US Dollar (USD) following Friday’s Nonfarm Payrolls (NFP) pushed back expectations of a near-term interest rate cut from the Federal Reserve (Fed).

GBP/USD tumbled during the North American session, down over 0.30% after the latest jobs report in the United States (US) maintained the status quo, with the economy remaining strong. The pair traded at 1.3526 after hitting a daily high of 1.3586.

Following a quiet beginning to the European session, EUR/USD turned south in the second half of the day and declined below 1.1400. At the time of press, EUR/USD was down 0.55% on the day at 1.1382.

The Japanese Yen (JPY) continues to weaken against the British Pound (GBP) on Friday, with the GBP/JPY pair edging up to near 195.20 at the time of writing. 

The Indian Rupee (INR) strengthens slightly against the United States Dollar (USD) on Friday, despite a surprise 50-basis-point (bps) interest-rate cut by the Reserve Bank of India (RBI).

Japanese Yen (JPY) is down 0.4% vs. the US Dollar (USD) and underperforming all of the G10 currencies in an environment of modest USD strength.

Pound Sterling (GBP) is also down 0.2% vs. the US Dollar (USD) with a modest pullback from Thursday’s fresh multi-year high, Scotiabank's Chief FX Strategist Shaun Osborne notes.

The USD/JPY pair rises further to near 144.00 during European trading hours on Friday, following the previous day’s recovery move. The pair strengthens as the US Dollar (USD) extends recovery ahead of the United States (US) Nonfarm Payrolls (NFP) data for May, which will be published at 12:30 GMT.

Euro (EUR) is soft, down a marginal 0.2% vs. the US Dollar (USD) and trading around levels that had prevailed ahead of Thursday’s ECB meeting, Scotiabank's Chief FX Strategist Shaun Osborne notes.

US Dollar (USD) is likely to trade in a range of 142.95/144.40 against Japanese Yen (JPY). In the longer run, price action suggests that USD is still trading in a range, most likely between 142.10 and 145.50, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Risk remains on the upside, but with no clear increase in momentum, New Zealand Dollar (NZD) may not be able to break above 0.6080 against US Dollar (USD).

The Australian Dollar extends losses below 0.6500 on Friday as traders trim their US Dollar short positions ahead of the US Nonfarm Payrolls report.

Russia Interest Rate Decision registered at 20%, below expectations (21%)

Switzerland and Ireland were added to the US Treasury's monitoring list when it comes to FX practices, ING's FX analyst Chris Turner notes.

AUD/USD is showing signs of potential upside as it consolidates above key technical levels, with bullish momentum building if support at 0.6400 holds, Société Générale's FX analysts note.

The Central Bank of Russia's (CBR) had been expected to hold its key rate steady at today’s meeting. This had been a majority view among analysts, including ourselves, until recently, but as of late, the consensus majority has shifted in favour of a 100bp rate cut today.

Australian Dollar (AUD) could first test 0.6540 against US Dollar (USD) before the risk of a pullback increases. In the longer run, bias remains on the upside, but it remains to be seen if AUD can break clearly above 0.6555, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Firmer underlying tone suggests Pound Sterling (GBP) could retest the 1.3615 level against US Dollar (USD); the next resistance at 1.3655 is unlikely to come under threat.

We were caught off guard by the main message from ECB President Christine Lagarde yesterday that the easing cycle was nearing its conclusion, ING's FX analyst Chris Turner notes.

Euro (EUR) could potentially retest 1.1495 against US Dollar (USD) or even break above this level; slowing momentum suggests 1.1530 is likely out of reach.

Eurozone Retail Sales (MoM) meets forecasts (0.1%) in April

Eurozone Retail Sales (YoY) above forecasts (1.4%) in April: Actual (2.3%)

Eurozone Employment Change (YoY) below forecasts (0.8%) in 1Q: Actual (0.7%)

Eurozone Employment Change (QoQ) came in at 0.2%, below expectations (0.3%) in 1Q

EUR/GBP extends its gains for the third consecutive day, trading around 0.8430 during the Asian hours on Friday. The currency cross remained stable after the European Central Bank (ECB) delivered a widely expected 25 basis point rate cut on Thursday, and reduced interest rates to 2.0% from 2.25%.

The EUR/JPY cross attracts some follow-through buying for the second straight day on Friday and trades near the mid-164.00s heading into the European session. Spot prices remain close to over a three-week high touched on Thursday and remain well supported by a broadly weaker Japanese Yen (JPY).