Towards the end of the week, changes occurred on the movement of the US dollar currency which again showed a strengthening.
The United States (US) unemployment benefit claims data published in the New York session yesterday recorded a poor reading with an increase in the number of claims last week.
Market analysts still see the risk of a continued decline in the US dollar with clear indications in Federal Reserve (Fed) Chairman Jerome Powell's speech earlier in the week.
In his statement, the central bank does not need to wait until inflation reaches 2% to start cutting interest rates.
The effect of the depreciation of the US dollar is seen to be quite slow and towards the end of the week it is seen to recover again.
Yesterday's market focus was also directed to the results of the European Central Bank (ECB) monetary policy meeting.
The ECB decided to keep interest rates unchanged at 4.25% and gave no indication of the central bank's next move.
According to market analysts, the ECB is likely to cut interest rates earlier than the Fed but not at the fastest pace.
The Euro showed a negative reaction after the meeting which experienced further depreciation against the US dollar.
Its currency counterpart the Pound also showed a dismal performance as UK employment data published in the European session yesterday was seen to be under pressure.
UK retail sales data will be the focus of the European session this afternoon with the market focus in the New York session being Canadian retail sales data.
The market is considered risky at the end of the week with investors likely to face an uncertain market situation.
