The Eurodollar fell to a seven-week low after negative Eurozone data increased the possibility of further ECB rate cuts. Concerns that the EU got a poor trade deal with the US are also pressuring the euro.
The British pound fell against the dollar after Fed Chair Powell kept rates unchanged at 4.5% and voiced some caution about future rate cuts.
The USD/JPY finished lower in a volatile week after the Bank of Japan kept rates unchanged at 0.5%. The safe-haven yen received support after a strong earthquake in the region, amid tsunami warnings.
Gold prices climbed following much weaker-than-expected Nonfarm payrolls data, while expectations rose that the Fed would cut interest rates in September.
U.S. stocks posted their worst weekly performance in two months after poor employment data raised fears of a slowing economy. In the earnings season, Apple, Amazon, and Meta all produced better-than-expected results.
Oil prices jumped to a one-month peak after President Trump confirmed that Russia had an August 8th deadline to make progress with Ukraine on a ceasefire, or it would face potential oil sanctions or tariffs. Over the weekend, OPEC+ agreed on an in-line with expectations production increase of 547,000 barrels per day.