US Dollar looks set to close another week in positive. The USD Dollar index (DXY) measuring the strength of the USD against a basket of currencies, enters what seems to be a fourth consecutive day in support at least up to this morning.

Worries on the trade tensions between the US and China re-surfaced again after that on Thursday China promised to retaliate if the US acted upon the threat of increasing tariffs by another 15% on $200 billion worth if Chinese imports into the US.

The US imports from China far more than the reverse so thus far it seems that China has more to lose.

On this first Friday of the month of August, focus later today shifts on the latest health check of the US labour market. Today we are expecting to see how many new jobs were created throughout July with consensus figures pointing towards 192K in estimate. Unemployment rate is set to ease to 3.9% from the previous 4%, but we will have to await for the official figures prior to coming to any conclusions.