This morning, the US Dollar is holding firm despite an apparent escalation of tariff threats from both sides of Pacific. Traders are more focused on the positive potential for today’s Non Farm Payrolls data.
Dollar pairs have a negative bias, with the likes of the GBP/USD and EUR/USD selling off again. The EUR/GBP is recovering well though, with the pair rising as the euro showing some relative strength.
The AUD/USD is making small gains this morning, the damage was done yesterday by the sharp sell-off. The NZD/USD is making small losses by contrast.
Yen pairs have a positive bias, as the USD/JPY rallies for the fourth day in a row. Even the pressured AUD/JPY is making gains.
Gold is slipping off the pace for the fourth day in a row.
Today’s main item of note is US payrolls data, with 188K jobs expected by analysts. Also at 13.30, we get US average earnings and the unemployment rate.
Canadian employment data is also released at 13.30.
Canadian Ivey PMI is at 15.00.
BOE governor Carney speaks at 16.15.
Fed Chair Powell speaks at 18.30.
The Aussie dollar remains under pressure despite the potential tariff war with China. In fact it is this threat that continues to put pressure on the Aussie with its close reliance on Chinese exports.