During the European session on Friday, the euro advanced against most major currencies as stocks edged up ahead of key U.S jobs data.
The U.S. non-farm payrolls data, which is due to be released at 8:30 am ET, is expected to increase by 135,000 in January. But the unemployment rate is expected to remain unchanged at 8.5 percent.
Thus far, Germany's DAX gained 0.38 percent, France's CAC 40 index added 0.44 percent and U.K.'s FTSE 100 index advanced 0.49 percent.
Germany's private sector output expanded in January at the fastest pace since June 2011, but the increase was slightly weaker than the flash estimate, final data from Markit Economics showed today.
The final Composite Output Index, which measures the combined output of the manufacturing and service sectors, rose to 53.9 in January from 51.3 in December. The flash estimate for January was 54.
At the same time, the services Purchasing Managers' Index came in at 53.7, up from 52.4 in December, but smaller than the flash estimate of 54.5.
Another final data from Markit Economics revealed that the Eurozone private economy stabilized in January as initially estimated.
The final Markit Composite Output Index came in at 50.4 in January, up from 48.3 in December. The reading was unchanged from the earlier flash estimate and exceeded the no-change mark of 50.0 for the first time in five months.
Meanwhile, the Purchasing Managers' Index for the service sector posted 50.4, down from the earlier flash estimate of 50.5. But it stayed above December's 48.8.
However, Eurozone retail sales fell 0.4 percent in December from the prior month, Eurostat reported today. Economists were expecting turnover to expand 0.3 percent. The decline for November was revised to 0.4 percent from 0.8 percent.
The euro reached a 2-day high of 100.54 against the yen, compared to yesterday's close of 100.20. If the euro rises further, it may target 101.00 level.
Against the greenback and the pound, the euro rose to 1.3185 and 0.8324, respectively. On the upside, the euro may target 1.32 against the greenback and 0.84 versus the pound. At yesterday's close, the euro traded at 1.3145 against the greenback and 0.8318 against the pound.
UK service sector activity expanded at the strongest pace in ten months in January, confounding economists' expectation for a slowdown, the latest survey by Markit Economics and Chartered Institute of Purchasing & Supply (CIPS) revealed today.
The European single currency gained to 1.3174 against the loonie and 1.5838 against the kiwi with 1.32 and 1.59, respectively seen as the next upside target levels. The euro ended yesterday's deals at 1.3139 against the loonie and 1.5782 against the kiwi.
Looking ahead, Jobs data from Canada is expected at 7 am ET and the U.S. factory orders for December and the ISM non-manufacturing index for January are due at 10 am ET.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.