FXstreet.com (Barcelona) - Asian markets are going through gains on a cautious session on Friday, with investors awaiting key U.S. non-farm payrolls report to assess the influence of incipient economic recovery over the labor markets. Euro and Pound have traded at lower levels after dropping from Thursday's highs.
Hong Kong's Hang Seng Index rose 0.4%, while Australian S&P Index advanced 0.25% and Chinese Shangai Composite index, which has influenced the areaÂ´s markets with the high volatility seen during last weeks, has edged up 0.1% after a 4.8% jump on Thursday. On the negative side, Japanese Nikkei Index dropped 0.6%, and South Korean Kospi Index shed 0.3%.
Investors in Asia await the U.S. non-farm payrolls report, relative to the month of August, unemployment is expected to have ticked up to 9.5%, from 9.4% in July, with payrolls expected to have declined by 225,000, after a 247,000 decline in July.
Euro and Pound retreat from Thursday's highs
EUR/USD peaked on Thursday at 1.4348, and the pair declined during U.S and Asian session to find support at 1.4235, and trade in a range from 1.4235 and 1.4265 before stretching up at the moment of writing as the pair reaches 1.4270 session high.
GBP/USD rallied yesterday to a fresh intra-week high at 1.6410 to decline during U.S. and Asian session to find support at 1.6305. At the moment, the Pound is building up momentum as the pair reaches session high above 1.6350.
USD/JPY bounced on Thursday from fresh 6-week high at 91.95 and the Dollar reached 92.78 high, where it has been capped at the 100 hour SMA before easing to levels between 92.50 and 92.70.