• The dollar struggled near its lowest since May 2016 against a basket of currencies on Friday in the wake of weak U.S. data, as traders awaited the key non-farm payrolls report due later in the session for potential relief.
The dollar index .DXY, which has just recorded its worst run of monthly losses since early 2011, was 0.1 percent lower at 92.766 .DXY, poised to lose about0.6 percent during a week in which it fell to a 15-month low of 92.548.
The greenback has also suffered at the hands of a strengthening euro, which hit 2-1/2-year highs this week, boosted by dollar weakness but also the view that the European Central Bank is set to tighten policy amid a brightening economic picture.
The euro added 0.1 percent on Friday to $1.1879 EUR=, within striking distance of $1.1910, its highest since January 2015, scaled midweek.
Against the yen, the dollar hit a seven-week low in Asian trading, before steading to trade flat at 110.10 yen JPY=.
• Traders have one more milestone to surpass this week that is, the US monthly employment report, to be release this Friday. The country is expected to have added 183K new jobs in July, after June's positive surprise of 222K. The 4.4% unemployment rate is still expected to drop to 4.3%, while average hourly earnings are expected to be up 0.3% monthly basis, and by 2.4% on the annualized figure, this last, slightly below previous 2.5%.
• Japan's economy was expected to grow for a sixth straight quarter in April-June, a Reuters poll found on Friday, buoyed by domestic demand as consumer spending recovered and firms increased their capital investment.
Gross domestic product (GDP) was seen expanding at an annualized rate of 2.5 percent in the second quarter, the poll of 20 analysts found, a rate last posted in January-March 2016, while the last six straight quarter run of growth was January-March 2005 through April-June 2006.
• As Beijing's sweltering summer rolls into August, China's political elite usually retreats seaside to deliberate the hottest topic of all: the future of the ruling Communist Party.
For President Xi Jinping, this is an opportunity to install loyalists and shore up his legacy. Who gets promoted and who doesn't could have a major global impact, as the world's second-largest economy posts its slowest pace of growth in a quarter of a century.
• Oil markets were little changed on Friday, with U.S. crude remaining below $50 per barrel, restrained by rising output from the United States as well as producer club OPEC.
U.S. West Texas Intermediate (WTI) crude futures were at $48.95 per barrel at 0707 GMT, down 8 cents, or 0.1 percent, from their last close and set to drop1.5 percent for the week.
Brent crude futures, the international benchmark for oil prices, were at $51.92 a barrel, down 9 cents, or 0.2 percent, from their last close and set to drop 1percent for the week.
Reference: Reuters
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