This morning, the dollar index remains weak following Friday’s mixed jobs report. Headline Non Farm Payrolls increased more than expected, but average earnings and unemployment both disappointed.
Dollar pairs have enjoyed the release, with the AUD/USD and NZD/USD gapping higher at the open. The EUR/USD’s early trading is a little more circumspect, with the GBP/USD flat so far.
The USD/CAD is unchanged after four days of solid losses and Friday’s rally.
The yen pairs have a bearish bias, with the USD/JPY dropping after three days of gains. Other yen pairs are following suit, with the exception of the AUD/JPY which is unchanged.
We have a light day of data today, with no middle or top tier data points.
This morning, the GBP/JPY is trading lower after grinding higher last week. Despite a short term positive trend, the GBP/JPY’s gains look precarious and we could revisit the lows in a single session.