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Its US jobs report Friday, previews:
China
was once again out on holiday today. Combined with the wait for the
upcoming US January jobs report (nonfarm payroll, previews in the
bullets above)
much
of
major
FX traded in small ranges.
EUR/USD
was a bit of an exception. After the ECB and President Lagarde’s
less dovish remarks the euro rose on Thursday (Europe/US time). That
rise extended just a little here in Asia as markets reassess how much
policy divergence there is likely to be ahead between the US and
Eurozone. EUR/USD ticked around 30 points higher during the session.
Cable,
too found a few bids during Asia, its up around 20 points off its
early in the session low.
The
RBA,
Australia’s
central bank,
released
its February Statement on Monetary Policy.
The
SoMP is published four times a year. In today’s publication the
Bank
upgraded its inflation and employment outlook for the quarters ahead,
while still
expecting
only a slow build ahead for wage pressures. The Bank reiterated its
patient view on policy adjustment ahead. AUD/USD is little changed on
the session.
Equities
benefited from a strong report from Amazon after regular (US) trading
hours and a subsequent circa 15%+ jump for the shares.
New RBA forecasts (in summary):