Forex Today: Dollar dominant regardless on Mid-East, all-eyes on the Non-Farm Payrolls

Here is what you need to know on Friday, January 10:

The US dollar has been consolidating its gains ahead of the all-important Non-Farm Payrolls report for December. Economists expect an increase of around 164,000 and wages to rise by 3.1%. Upbeat ADP employment figures and a healthy services sector data imply even higher gains.

See:

• Non-Farm Payrolls Preview:  All signs are go
• Nonfarm Payrolls Preview: New year, old data

Markets have calmed as the US and Iran stepped away from the brink of war on Wednesday. The Japanese yen, gold, and oil remain pressured. Headlines from the Middle East focus on the crash of the Ukranian civilian jet and suspicion that an Iranian air-to-surface missile downed it by mistake. Tensions may erupt again.

GBP/USD is trying to recover from a dovish speech by Mark Carney, Governor of the Bank of England. In a speech on Thursday, he said that the BOE has the equivalent of 250 basis points of easing space and that it may act "promptly."

Brexit: Parliament finally passed the Withdrawal Bill, allowing the UK to leave the EU on January 31. Uncertainty about future EU-UK relations persists. 

AUD/USD has been recovering after Australian retail sales beat expectations with a rise of 0.9% in December.

The Canadian dollar has been on the back foot following oil prices and ahead of the jobs report. Markets expect a return to job growth in December. See Canadian Jobs Preview: Why comeback CAD has room to extend its gains

Cryptocurrencies are extending their losses, seemingly related to calmer Mid-East tensions. 

More Will 2020's First NFP Report Help the Dollar?