The Pound Sterling advances versus the Greenback during the North American session yet retreated from daily highs hit at 1.3712 following a stronger than expected jobs report in the US. At the time of writing, the GBP/USD trades at 1.3655, up 0.10%.

USD/JPY trades around 153.30 on Thursday at the time of writing, down 0.70% on the day, after briefly advancing following the release of a stronger-than-expected US jobs report.

BNY’s Head of Markets Macro Strategy Bob Savage notes that the Australian Dollar is trading above 0.71, its highest level since February 2023, as markets price a roughly 70% chance of another 25 bp RBA hike in May.

Gold (XAU/USD) holds firm on Wednesday after coming under brief pressure following an upbeat US labour market report. At the time of writing, the metal trades near $5,070 after bouncing from an intraday low of $5,018.

ING’s Francesco Pesole expects the Riksbank to keep rates on hold through 2026 despite inflation falling temporarily to around 1%.

EUR/USD came under brief pressure on Wednesday as a surprisingly firm US jobs report boosted the US Dollar (USD) and weighed on the Euro (EUR). At the time of writing, the pair trades around 1.1875, after sliding about 68 pips to an intraday low near 1.1833 in the immediate reaction to the data.

TD Securities expects the Bank of Canada’s Summary of Deliberations to deliver a more nuanced message than January’s cautious statement.

West Texas Intermediate (WTI) US Oil trades around $65.15 on Wednesday at the time of writing, up 1.53% on the day, extending the rebound that began earlier this week.

Rabobank’s Jane Foley highlights that UK political uncertainty around Prime Minister Starmer’s leadership is limiting Pound relief, with EUR/GBP holding near 0.8700 and GBP the weakest G10 currency on a 5‑day view.

Nonfarm Payrolls (NFP) in the United States (US) rose by 130,000 in January, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading followed the 48,000 (revised from 50,000) increase recorded in December and came in above the market expectation of 70,000.

United States U6 Underemployment Rate fell from previous 13% to -42% in January

United States Average Weekly Hours came in at 34.3, above forecasts (34.2) in January

United States Average Hourly Earnings (YoY) above expectations (3.6%) in January: Actual (3.7%)

United States Unemployment Rate registered at 4.3%, below expectations (4.4%) in January

United States Nonfarm Payrolls came in at 130K, above expectations (70K) in January

Canada Building Permits (MoM) came in at 6.8%, above expectations (5%) in December

United States Labor Force Participation Rate rose from previous 62.4% to 62.5% in January

United States Average Hourly Earnings (MoM) came in at 0.4%, above forecasts (0.3%) in January

MUFG’s Lee Hardman reports that the Australian Dollar has gained nearly 6.5% against the US Dollar this year, supported by the RBA’s early rate hikes and hawkish comments from Deputy Governor Andrew Hauser.

Russia Foreign Trade increased to $10.021B in December from previous $6.795B

Nomura expects Euro area GDP growth to accelerate in 2026–2027 to around 1.7–1.8% year-on-year, above estimated potential of roughly 1.1–1.2%.

Deutsche Bank’s Marc Schattenberg analyzes Germany’s 2026 wage round, covering around 10 million employees across public services, retail, wholesale, chemicals and metalworking.

The Euro (EUR) has retraced most of the daily gains against the US Dollar (USD), and trades near 1.1900 at the time of writing on Wednesday after rejection from February's highs in the area of 1.1925.

Silver (XAG/USD) climbs on Wednesday, reversing the previous day’s losses as a softer US Dollar (USD) offers support ahead of the delayed US Nonfarm Payrolls (NFP) report due at 13:30 GMT. At the time of writing, XAG/USD is trading near $85.45, up almost 5.47% on the day.

The Pound (GBP) has retraced losses against the US Dollar (USD) on Wednesday, but failed to find acceptance at weekly highs above 1.3700 and has pulled back to the 1.3680 area at the time of writing.

Commerzbank’s Antje Praefcke notes that stronger January inflation in Norway, with headline at 3.6% and core at 3.4% year-on-year, confirms that interest rate cuts by Norges Bank are off the table for now.

NZD/USD trades around 0.6060 on Wednesday at the time of writing, up 0.25% on the day, and posts a nearly two-week high amid persistent US Dollar (USD) weakness. The bullish move comes as investors position cautiously ahead of the release of the US Nonfarm Payrolls (NFP) report.

TD Securities expects UK GDP to rise 0.1% m/m in December, driven mainly by manufacturing, with services flat. This would leave Q4 2025 GDP at 0.2% q/q, matching consensus and MPR projections, and only modest services growth.

BNY’s Geoff Yu highlights that US equity markets have stabilized despite recent volatility, with the Tech sector still leading allocations.

United States MBA Mortgage Applications up to -0.3% in February 6 from previous -8.9%