To end the trading week, traders will be looking for a set of economic releases from the UK and Canada.
The US Dollar fell earlier on Thursday before bouncing during the US trading session pushing Gold sharply lower toward the key technical support of $1860 per ounce.
Moreover, all major US stock indexes ended the day lower as investors fears a looming recession.
The UK GDP figures are expected to decline from 1.9% to 0.4% while industrial production is likely to come unchanged at -0.2%. In the meantime, forecasts are pointing at a potential increase in manufacturing production from -0.5% to -0.2% in December.
Later today, employment change in Canada is expected at 15K only in January compared to 104K previously while the unemployment rate is set to increase from 5.0% to 5.1%.
Looking now at the latest price action developments in the major currency pairs alongside gold.