European markets steady as traders eye US jobs report
European markets traded in a steadier mood on Friday, with the US dollar weakening across the board as traders await the key US jobs report later in the session.
European markets found a steadier footing on Friday, with risk sentiment improving as traders looked past recent geopolitical tensions and focused on the upcoming US jobs report. The US dollar weakened across the board, reflecting a shift towards riskier assets, while US futures pointed higher with tech shares leading the advance. Oil prices remained little changed, with WTI crude holding near the $95 mark as the market awaited fresh headlines on the US-Iran conflict.
For foreign exchange traders, the dollar's broad-based decline is a key signal that risk appetite is returning, at least temporarily. The dollar index slipped as currencies like the euro, yen, and commodity-linked currencies gained ground. This move is consistent with a market that is pricing in a less aggressive Federal Reserve, especially if the jobs data comes in soft. Live fx prices on NowPrice show how the market is reacting in real time, with the euro/dollar pair edging higher and the dollar/yen pulling back from recent highs.
Looking ahead, the US non-farm payrolls report will be the main event, with expectations for a moderate gain. A strong number could revive dollar buying and dampen risk sentiment, while a weak print might accelerate the dollar's slide and boost equities. Traders should also monitor any late-breaking US-Iran headlines, as a potential framework deal could further support risk assets. NowPrice's live charts provide up-to-the-second updates on these key currency pairs as the data is released.