This morning, the dollar is back on the rise ahead of today’s Non Farm Payrolls after yesterday’s losses. Yesterday’s poor performance was driven by activity in treasuries which superseded strong economic data and results from tech giants who reported results last night.
The euro is lagging slightly this morning, but generally remains on top, with both the EUR/USD and EUR/JPY testing multi month highs. The EUR/GBP rallying yesterday and holding ground today.
The pound is out-performing this morning, with solid gains for the GBP/JPY for the fourth day in a row.
The Australian dollar continues to struggle though, losing ground for the fourth day this week. The NZD/USD is off the pace as well this morning, but at least the highs remain in touching distance.
Yen pairs are generally mixed, with the likes of the AUD/JPY struggling, but the USD/JPY rallying for the lows.
The USD/CHF and USD/CAD both pitched lower yesterday, but these latest moves are being challenged by this morning’s rally.
Today we have UK Construction PMI at 09.30.
This is followed by US average hourly earnings, unemployment rate and Non Farm Payroll at 13.30.
At 15.00, we get revised UoM consumer sentiment.
US FOMC member Williams speaks at 19.30.
It’s a big day for the dollar and its main counter weight the euro with NFP this month. Such days do present big unknowns, but generally it has paid to side with the main trend, which is higher for the EUR/USD.