EUR/USD prolonged its agony throughout the week, poising to print losses of 0.70%, as it fell 0.20% on Friday, despite the release of mixed economic data in the US. In the European Union, Retail Sales exceeded forecasts, but traders’ focus remains around the dynamics of the US and the Dollar.

United States CFTC Gold NC Net Positions declined to $227.6K from previous $2312K

Australia CFTC AUD NC Net Positions climbed from previous $-212K to $-19K

United Kingdom CFTC GBP NC Net Positions: £-30.5K vs £-332K

United States CFTC Oil NC Net Positions: 57.4K vs previous 646K

United States CFTC S&P 500 NC Net Positions rose from previous $-944K to $-106.1K

Eurozone CFTC EUR NC Net Positions down to €162.8K from previous €1575K

Japan CFTC JPY NC Net Positions: ¥8.8K vs previous ¥141K

Japan CFTC JPY NC Net Positions down to ¥88K from previous ¥141K

Richmond Fed President Tom Barkin said the decline in the unemployment rate was welcome and described job growth as modest but stable.

The Canadian Dollar (CAD) trades little changed against the British Pound (GBP) on Friday, with GBP/CAD struggling to find direction as traders show a muted reaction to Canada’s latest employment report. At the time of writing, the pair trades around 1.8636, hovering near one-month highs.

AUD/USD trades lower on Friday, with the pair hovering around 0.6680 at the time of writing, down 0.23% on the day.

United States Baker Hughes US Oil Rig Count declined to 409 from previous 412

Gold price rises on Friday, poised to end with weekly gains of nearly 4% as an employment report in the US was mixed, with the economy adding fewer jobs than projected. Still, the Unemployment Rate ticked lower, yet investors are still betting the Federal Reserve (Fed) to cut rates this year.

USD/CAD trades around 1.3900 on Friday at the time of writing, up 0.25% on the day, supported by a combination of macroeconomic factors favoring the US Dollar (USD) and weighing on the Canadian Dollar (CAD).

The Japanese Yen (JPY) extends its losses against the US Dollar (USD) on Friday, with USD/JPY pushing higher for a fourth straight day as the Greenback builds on its recent advance following the latest batch of US economic releases.

The Pound Sterling (GBP) retraces on Friday after December’s Nonfarm Payrolls report delivered mixed figures, though traders reduced bets for an interest rate cut in January. At the time of writing, GBP/USD trades at 1.3412 after reaching a high of 1.3451.

Rather than signaling a setback, December's modest employment gain and rising unemployment rate reinforce our view that Canada's labor market recovery is underway but will likely prove choppy, with slack absorbed only gradually over time, Royal Bank of Canada Senior Economist Claire Fan reports.

Consumer confidence in the US improved slightly to start the year, with the University of Michigan's Consumer Sentiment Index rising to 54 in January's preliminary reading, from 52.9 in December. This print came in slightly better than the market expectation of 53.5.

United States UoM 1-year Consumer Inflation Expectations unchanged at 4.2% in January

United States Michigan Consumer Expectations Index climbed from previous 54.6 to 55 in January

United States UoM 5-year Consumer Inflation Expectation: 3.4% (January) vs 3.2%

United States Michigan Consumer Sentiment Index registered at 54 above expectations (53.5) in January

The Pound Sterling (GBP) is soft, down a modest 0.2% but underperforming most of the G10 currencies as we head into Friday’s NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

China’s net Gold imports from Hong Kong rose to 16.2 tons in November, doubling October’s weak level, but overall imports remained low compared to previous months, reflecting muted demand, Commerzbank's commodity analyst Carsten Fritsch notes.

The Euro (EUR) is soft and down a fractional 0.1% vs. the US Dollar (USD) as it extends its latest pullback within the flat range from last June, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The Euro (EUR) edges lower against the US Dollar (USD) on Friday as traders react to a mixed batch of US labour-market data. At the time of writing, EUR/USD trades around 1.1638, remaining on the back foot for a seventh straight day as the Greenback retains a firm tone across the board.

Gold and Silver prices fell sharply on Thursday, with Gold dipping near $4,400 per ounce and Silver briefly below $74, before recovering somewhat, highlighting heightened short-term market uncertainty, Commerzbank's commodity analyst Carsten Fritsch notes.

The Canadian Dollar (CAD) is little changed against the generally firmer US Dollar (USD), Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

Gold (XAU/USD) trades with a mild positive bias on Friday as investors assess mixed US labour data. At the time of writing, XAU/USD trades around $4,490, after bouncing from the $4,400 region on Thursday.