The NZD/USD pair trades 0.37% lower to near 0.5730 during the European trading session on Friday. The Kiwi pair is under severe selling pressure as the New Zealand Dollar (NZD) underperforms amid a cautious market mood.
27EUR/USD depreciates further, trading at monthly lows of 1.1640 at the time of writing, on track to a 0.6% depreciation this week.
The Euro is trading flat in the area of 0.8675 on Friday’s early European session, halfway through the weekly range, following mixed macroeconomic data from Germany. From a wider perspective, the pair is on track for a 0.3% weekly loss and a 1.5% sell-off from mid-November highs above 0.8800.
Gold (XAU/USD) remains on the defensive through the first half of the European session as traders opt to wait on the sidelines ahead of the highly anticipated US Nonfarm Payrolls (NFP) report. The crucial US jobs data will be looked upon for cues about the US Federal Reserve's (Fed) rate-cut path.
The Japanese Yen (JPY) adds to its intraday losses through the first half of the European session amid the uncertainty over the timing of the next interest rate cut by the Bank of Japan (BoJ) and escalating China-Japan row.