TD Securities strategists expect Canada’s July Jobs Report to confirm ongoing labour market strength, with employment rising another 20k, matching consensus and extending the recovery of 2026 job losses.

Commerzbank’s Tatha Ghose raises the near-term EUR/PLN forecast from 4.20 to 4.30, citing recent global risk-off moves and uncertainty surrounding the oil price shock.

Danske Research Team expects United States (US) Nonfarm Payrolls (NFP) to rise by 70k in July, with the unemployment rate steady at 4.2% and average hourly earnings up 0.3% m/m.

OCBC’s Sim Moh Siong and Christopher Wong note the Swiss Franc (CHF) remains under pressure as carry trade funding demand grows and recent Japanese Yen (JPY) intervention reinforces CHF’s role as a preferred funding currency.

Singapore Foreign Reserves (MoM) up to 427.9B in July from previous 426.2B

Greece Consumer Price Index (YoY) down to 3.4% in July from previous 4.4%

Greece Consumer Price Index - Harmonized (YoY) declined to 2.7% in July from previous 3.9%

The United States (US) Bureau of Labor Statistics (BLS) is set to release the Nonfarm Payrolls (NFP) data for July on Friday at 12:30 GMT. 

Commerzbank’s Tatha Ghose reports that the Czech National Bank (CNB) kept its policy rate at 3.75% and returned to a wait-and-see stance after June’s 25bp hike, despite still citing upside inflation risks.

EUR/CAD gains ground after two days of losses, trading around 1.6160 during the European hours on Friday. The currency cross maintains its strength as the Euro (EUR) holds its ground following the latest data release from Destatis.

Deutsche Bank strategists notes that the S&P 500 slipped as geopolitical developments and higher yields pressured sentiment. Energy outperformed while industrials and materials lagged.

Dow Jones futures inch lower 0.04% to trade around 53,990 during European hours on Friday. Meanwhile, S&P 500 futures gain 0.07% to trade near 7,740 and Nasdaq 100 futures gain 0.29%, trading near 29,570.

Danske Research Team reports equities closed lower in a 2026-style risk-off session driven by sentiment rather than macro or earnings. Higher Oil prices weighed, but the key feature was pronounced rotation from cyclicals into defensives such as energy, consumer staples and health care.

ING analysts Warren Patterson and Ewa Manthey note renewed strength in Oil, with ICE Brent rallying back above $82/bbl as obstacles to a US-Iran deal persist. They highlight Iranian demands around the Strait of Hormuz and limited signs of compromise.

USD/IDR has pared its recent gains from the previous day, trading around 17,940 during the Asian hours on Friday.

Germany’s Industrial Production rises 0.2% Month-on-Month (MoM) in June, the latest data published by Destatis showed on Friday. The growth was faster than 0.1% estimates, but slower than the previous reading of 0.9%.

According to a report from The Guardian, Saudi Arabia aims to extend its military operations against Iran-aligned Houthis for attacking the Najran province, which is located in its southern region, and Yemeni government troops.

AUD/JPY halts its three-day winning streak, trading around 111.30 during the Asian hours on Friday. The currency cross depreciates as the Australian Dollar (AUD) loses ground, driven by a surge in global safe-haven demand.

GBP/USD extends its losses for the second consecutive day, trading around 1.3450 during the Asian hours on Friday. The pair depreciates as the British Pound (GBP) softens even as United Kingdom (UK) political risk fades.

China's Trade Balance for June, in US Dollar (USD) terms, arrives at $112.5 billion, higher than $107.0 billion expected, but lower than the prior release of 125.62 billion.

EUR/USD extends its losses for the second consecutive day, trading around 1.1520 during the Asian hours on Friday. The currency pair faces downward pressure as the US Dollar (USD) gains strength, propelled by renewed safe-haven demand among global investors.

United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann note that USD/CNH is trading with a soft underlying tone, with scope for the Dollar to test support levels near 6.7420 in the short term, while a sustained break lower is seen as unlikely.

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note USD/SGD stayed broadly flat on Wednesday, trading between 1.2804 and 1.2825 and closing at 1.2810.

ING economists Deepali Bhargava and Lynn Song warn that upside inflation risks are re-emerging for the Philippine Peso (PHP), driven by recovering Oil prices and expectations of a strong El Niño that could spark a food-price shock. Rising global rice and fertiliser prices add to pressures.

The St. Louis Fed President, Alberto Musalem, stressed that “inflation is too high” and that it’s “critical” that monetary policy focuses on bringing down inflation.

Societe Generale economist Kunal Kundu notes Indonesia’s 2Q26 Gross Domestic Product (GDP) grew 5.3% year-on-year, beating the bank’s 5.1% forecast, but warns the composition is less reassuring.

UOB Global Economics & Markets Research, led by economists Enrico Tanuwidjaja and Sathit Talaengsatya, analyzes Thailand’s July CPI undershoot driven by lower fuel prices while core inflation edges higher.

ING economists Deepali Bhargava and Lynn Song flag renewed policy uncertainty for the Indonesian Rupiah (IDR) after the surprise resignation of Bank Indonesia’s (BI) governor, just as sentiment toward Indonesian assets was improving.

Scotiabank’s team notes the Pound is fractionally weaker versus the Dollar, with fundamentals less supportive as yield spreads soften. However, sentiment is improving as markets fade earlier political concerns following PM Burnham’s arrival and stronger-than-expected construction PMI.

UOB’s economists highlight that Thailand’s inflation outlook is shaped by supply-side factors and external variables such as Oil and USD/THB.