Asian stocks kicked off Friday trade lower as investors continued to monitor the situation in Iraq.
Brent crude prices climbed to a new nine-month high above $115 a barrel overnight after U.S. President Barack Obama said he would send 300 military advisers to help Iraq battle rebel Sunni fighters. He emphasized there would be no troops involved in combat, but said targeted action was still an option if necessary.
Japanese shares pulled back modestly after ending at four-month highs on Thursday, but the benchmark Nikkei is still headed for a 1.7 percent gain for the week. Sony added 0.2 percent after shareholders voted Thursday to keep CEO Kazuo Hirai and other top executives after heckling them about the Japanese electronics and entertainment company's continuing losses.
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EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.