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Central bank meetings in Canada (Wednesday) and the Eurozone (Thursday) along with the Fed’s Beige Book release (also tomorrow)


The USD is suffering from a postemployment hangover;


Energy and metals are mixed to firmer (Brent lower, copper modestly lower) while global stocks are broadly higher, giving the market a risk


Its US non-farm payrolls again but this time the market stakes appear genuinely high.


A quick look at the consensus on Bloomberg shows the market is anticipating job gains of 180k


The USD is holding its own running into the numbers and is mostly firmer versus its G-10 peers.


China’s official manufacturing PMI edged back above 50 to 50.4 (versus 49.9 previously and 49.8 expected)


German activity was steady last month but France and Italy weakened, leading to a modestly weaker than expected outcome for the Eurozone


For the session ahead, we expect the USD to retain a firm undertone, supported by firm short-term rates


Fed officials provided contrasting views on rates earlier; Chicago Fed President Evans said that market expectations for low interest rates


The USD is steady to slightly lower on the day so far as the strong advance over the past few sessions moderates ahead of today’s US data


USDCNY remains stable below 6.70, despite the generally firm USD tone.


Fed Vice Chair Fischer helped support Fed rate hike speculation by remarking that the US economy is “very close” to full employment.


The JPY is somewhat of an underperformer on the session after a government advisor suggested that buying foreign bonds could be an option


United States Trends

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