The Australian dollar’s rally continued overnight, reaching levels not seen since the start of the year.
Absent releases in Euroland today, market participants expect the usual pre-Payrolls lull to prevail ahead of the NA session. Consensus expects the US economy to have added 190K jobs during February vs. 151K previous.
The unemployment rate is expected to remain unchanged at 4.9%, but even a small jump higher would not be a problem as long as the labour force participation rate increases. Discouraged unemployed who have stopped looking for a work and entering the labour force would be expected to temporarily increase the unemployment number.
EUR/USD: during the Asian session the pair traded in the range of $1.0935-55
GBP/USD: during the Asian session the pair traded in the range of $1.4150-70
USD/JPY: during the Asian session the pair was trading around Y113.50
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