The dollar is generally weaker today, while the Canadian dollar and Mexican peso have both plunged to new lows for the year. Conversely, the risk-off environment and unwinding of carry trades have boosted the Chinese yuan, which is having its best week of the year.
In the futures market, the S&P 500 has declined by more than 1%, and the Nasdaq is down approximately 1.8%.
Gold has hit a new weekly high, approaching the record set in mid-July near $2,484. Despite ongoing Middle East tensions, September WTI crude oil was rejected at nearly $79 yesterday, falling to about $76. It is currently trading in the $76.60-$77.30 range.

Asia Pacific Markets
The Asia Pacific region ended a busy week on a quiet note, with the inconsequential Q2 Australian PPI data having little impact on capital markets.
The Bank of Japan's 15 basis point rate hike and the start of quantitative tightening were key events this week.
The US dollar has edged lower against the yen, nearing yesterday's low but holding steady.
The Australian dollar fell to new session lows during the North American afternoon, slipping just below $0.6490, although Wednesday's low remains intact.

European Markets
Europe concludes a busy week with a quiet news day. Highlights include a 0.3% expansion in Q2 eurozone GDP, despite a contraction in Germany, traditionally the region's economic powerhouse.
The euro peaked just below $1.0820 and has since retreated to the $1.0780 area, holding yesterday's low but reaching $1.0825 in the European morning. Sterling extended its sell-off, dipping below $1.2710 during late Asia Pacific and early European trading before recovering and struggling near $1.2740.

American Markets
The US July jobs report is the focal point for a busy week. Bloomberg's survey median forecast anticipates a 175,000 increase in nonfarm payrolls, aligning with the Q2 average following a 267,000 average in Q1.
The risk-off sentiment heavily impacted the Canadian dollar, which hit a new low for the year. It was recovering before the significant risk-off move post-US ISM report. The US dollar surged from just below CAD1.38 to nearly CAD1.3890, stopping just shy of the 2023 high.