The US dollar appeared weak at the opening of the Asian session this morning (Friday) with the release of US economic data yesterday failing to inject additional momentum for further strengthening.
In the New York session yesterday, investors focused on the US retail sales data report with the reading for June recording an increase of 0.6%, better than the slow forecast of 0.1%.
Although the latest inflation rate recorded an increase, the increase in the sales rate slightly eased concerns about consumer spending patterns in America as the impact of Donald Trump's tariffs is being assessed.
However, the US dollar failed to show a stellar performance in the session and weakened further in trading that continued on Friday.
Is the factor of President Trump's threats against central bank institutions still a risk that the market is focusing on at the moment?
European currencies including the Euro and Pound are seen trying to recover and relieve pressure from the previous strengthening of the US dollar, but price movements slowed at the end of the week.
The pound is seen struggling to show good performance following the UK jobs report published in the European session yesterday showing a rising unemployment rate.
The Australian dollar suffered a significant fall in value on Thursday following the Australian jobs report which came with a less than encouraging reading.
The expected increase in jobs of 21,000 instead recorded only 2,000 for June. Adding to the pressure, the unemployment rate also rose to 4.3% compared to the forecast to remain at 4.1%.
The Yen currency is trading at a 3-month low against the US dollar with the release of the Japanese inflation report being watched in the Asian session this morning.
The latest figure came in at 3.3% for June, lower than the expected 3.4% and the previous month's 3.7%.
