The US Dollar was little changed against most major currencies in early trading in Europe Friday. EUR/USD is little changed from a day ago, after the European Central Bank sent a nuanced message at its latest policy meeting.

The ECB appeared to rule out cutting interest rates again with its forward guidance in its initial policy statement, but outgoing President Mario Draghi subsequently repeated that it hadn’t ruled anything out. His comments quickly reversed gains that the euro had initially made.

GBP/USD was last trading at 1.2701, little changed from late Thursday. Markets may have taken with a pinch of salt remarks by Governor Mark Carney that interest rate hikes are still on the table once the uncertainty over Brexit recedes. Even so, the comments were clearly less dovish than Draghi’s.

The lingering trade tensions may keep USD/JPY under pressure ahead of the non-farm payrolls report, which is expected to show the US economy added 185k jobs in May.

With no major economic releases in the European calendar, the US Non-farm Payrolls will be on top of the agenda later in the day at 12:30 GMT. In addition to labour data, that expects no change in the unemployment rate and average hourly earnings, political plays surrounding the Mexican tariffs and trade tussle with China could also become important to watch.

Oil prices rose more than 1% on Friday, climbing further away from five-month lows hit earlier in the week after a report that Washington could postpone trade tariffs on Mexico and amid signs that OPEC and other producers may extend their supply cuts.

Gold dropped to immediate support-line as traders preferred US Dollar on NFP day. Despite expectations suggesting the headline nonfarm payrolls (NFP) figures to be a bit down to 185K from 263K prior, traders kept supported the dollar against the yellow metal.