EUR/USD trimmed some of its previous losses and rises 0.16% on Friday’s late in the North American session, amid a scarce economic docket in both sides of the Atlantic.

AUD/USD trades sideways on Friday, around 0.6480 at the time of writing, after the release of a key indicator showing a significant deterioration in US consumer confidence.

The Euro (EUR) extends its rebound against the US Dollar (USD) on Friday, building on renewed weakness in the Greenback. At the time of writing, EUR/USD is trading near 1.1575, its highest level since October 30.

GBP/USD clings to minimal gains on Friday amid the lack of economic data releases in the UK and as markets digest scarce economic data as the US government shutdown continues. The pair trades at 1.3148, up 0.10% after hitting a daily low of 1.3094.

The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Friday, snapping a six-day losing streak after stronger-than-expected labor market data signaled resilience in Canada’s economy. At the time of writing, USD/CAD is trading around 1.4064, down nearly 0.35% on the day.

The Euro (EUR) edges higher against the British Pound (GBP) on Friday, snapping a two-day losing streak as the Bank of England’s (BoE) dovish policy stance weighs on Sterling.

GBP/JPY trades slightly lower on Friday, hovering around 200.75 at the time of writing, and remains on track for its second consecutive weekly loss. The pair has stabilized after sharp mid-week selling that drove prices to a one-month low, filling the bullish gap from October 6.

The US Dollar is giving away previous gains on Friday, approaching weekly lows near 152.85, after being rejected at the 153.50 area earlier on the day.

The US Dollar has lost some momentum on Friday’s European trading session, and the USD/CAD pulled back to the 1.1410 area from session highs at 1.4125.

The Canadian labour market data for October is due for release today at 13:30 GMT. Statistics Canada is expected to show that employers laid off 2.5K workers, against hiring of 60.4K job-seekers in September.

US Dollar (USD) could weaken, but it is unclear whether there is enough momentum for it to break below 152.40.

There is room for New Zealand Dollar (NZD) to edge lower, but any decline is likely part of a lower range of 0.5620/0.5650. In the longer run, downward pressure has increased; NZD could weaken to 0.5600 next, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

The AUD/USD pair stays above its key support level of 0.6450 from Wednesday. During the European trading session on Friday, the Aussie pair trades 0.1% higher to near 0.6490 as the Australian Dollar (AUD) outperforms its peers.

Australian Dollar (AUD) could test 0.6460; the major support at 0.6445 is unlikely to come under threat. In the longer run, outlook for AUD is negative now, but last month’s low near 0.6445 may not come into view so soon, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

GBP/USD is down under 1.3100 after recovering to a high around 1.3140 overnight. The Bank of England (BOE) delivered a dovish hold yesterday. The BOE left the policy rate at 4.00% (70% priced-in) and signaled the bar is low to resume easing at the next December meeting, BBH FX analysts report.

Pound Sterling (GBP) could rise further, but any advance is unlikely to break clearly above 1.3175.

USD/CAD is holding near multi-month highs above 1.4100 ahead of Canada’s October jobs report, which will test the Bank of Canada’s guidance following last week’s 25bps rate cut, BBH FX analysts report.

EUR/JPY trades higher on Friday, around 177.10 at the time of writing, gaining 0.20% for the day, after briefly losing ground toward 176.50 earlier in the day.

The US Dollar is faring better than the Swiss Franc amid the cautious market mood on Friday.

Markets eye Canadian jobs data, with a modest October decline expected, while soft Chinese trade figures weigh on commodity currencies and USD/CAD upside, ING's FX analyst Chris Turner notes.

Yesterday, the Bank of England (BOE) left interest rates unchanged, but the decision was extremely close, with a vote of 5-4 (it was expected to be 6-3).

Pound Sterling (GBP) has bounced after the BoE’s steady decision, but with Governor Bailey leaning toward a December cut, downside risks for GBP remain, ING's FX analyst Chris Turner notes.

USD/JPY is softening as lower U.S. yields and a developing descending triangle pattern tilt risks toward further downside. Pair was last at 153.48 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

EUR/USD may have carved out a key low, but weak Chinese trade data and uncertainty over the US labor backdrop limit confidence in a sustained rebound, ING's FX analyst Chris Turner notes.

USD/CAD has regained momentum after defending major technical supports, with the pair now eyeing channel resistance near 1.4150 and higher projections toward 1.4240–1.4300, Société Générale's FX analysts note, Société Générale's FX analysts note.

The Pound Sterling (GBP) trades lower against its major currency peers on Friday, except second-level safe-haven currencies. The British currency has come under pressure after the Bank of England (BoE) decided to hold interest rates steady at 4%, with a narrow majority vote of 5-4.

The Pound is gaining momentum on Friday, benefiting from Yen weakness following soft Japanese household spending data. The pair bounced from lows around 200.70 earlier in the day, but is struggling to break above the previous two days’ highs, in the area of 201.40.

EUR/USD nudges down from weekly highs around 1.1550 and trades at 1.1535 in the early European session on Friday.

NZD/USD extends its losses for the second successive session, trading at a six-month low of 0.5609 during the early European hours on Friday.

Here is what you need to know on Friday, November 7: