Daily market news

The USD/CHF registers modest gains of over 0.30% as the Greenback is boosted by a solid US Nonfarm Payrolls report, pushing the pair above the 50-day Simple Moving Average (SMA) to reach a daily high of 0.8126. At the time of writing, trades at 0.8098.

EUR/USD sees sharp two-way price swings on Friday after a stronger-than-expected United States (US) employment report triggers fresh volatility. The pair initially fell to an intraday low of 1.1585 before recovering as the US Dollar (USD) struggled to sustain its gains.

West Texas Intermediate (WTI) US Oil declines 1.21% on Friday and trades around $88.55 per barrel at the time of writing.

The Australian Dollar (AUD) trades marginally higher at around 0.7203 against the US Dollar (USD) during the European trading session on Friday. The Aussie pair is broadly firm as the US Dollar remains under pressure, with traders reassessing Federal Reserve (Fed) interest rate expectations.

Gold (XAU/USD) trades flat at the $4,470 area on Friday, as the previous two days’ rebound from $4,280 failed to find acceptance above the $4,500 psychological area.

The GBP/USD pair attracts some buyers for the second straight day, though it lacks follow-through and remains capped near mid-1.3500s through the early European session on Friday.

The Japanese Yen (JPY) is trimming some gains against the US Dollar (USD) on Friday, but still on track to its strongest weekly performance since July’s US-Japan coordinated intervention.

Here is what you need to know on Friday, September 4:

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – trades below the $90.00 mark during the Asian session on Friday and remains close to its highest level since July 24, touched earlier this week.