The world's two biggest economies are on the brink of an economically destructive trade war. Here's what experts think could happen next.

European Central Bank interest rates have room to fall further as inflation moderates, ECB board member Piero Cipollone said, warning that the U.S. administration's trade war with China could have a detrimental impact on the 20-member euro zone.

AUD/USD extends its consolidative price move and remains below the 0.6300 mark on Friday amid mixed cues. Bets that the RBA could cut rates later this month, US-China trade war concerns, and a softer risk tone cap the Aussie. Furthermore, traders opt to move to the sidelines ahead of the US NFP report amid subdued USD demand.