TGIF!!! and also NFP day!! we will be seeing alot of volatility tonite!
well here's a review of what went on yesterday.
Currencies remained mainly range bound with the US Jobless claims report turning market sentiments from positive to negative. Seems like everyone is waiting for the US NFP tonite for a direction.
Yen treasury yields came down which is why we saw a teeny bit of correction in the yen.
Euro rebounded up to above 1.3200 levels but could break the 1.3235 resistance and dealt back down to 1.3180. Trichet last night was fairly positive in his press conference.
Cable like the Euro rebounded above 1.5900 but found some offers there and came back down.
Aussie was pretty much range bound overnight. Not much movement here.
I think we are going to be seeing a fairly range bound market, with volatility closer in the night around the NFP time.
So here's the economic data we need to watch out for today:
Japan leading indicators - 5am GMT
UK monthly manufacturing production - 8.30am GMT
German industrial production report - 10am GMT
US Non Farm Payroll 12.30pm - GMT
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