Asia Session

The week in Asia ended in an orderly fashion today as the US Dollar and the Japanese Yen saw light inflows as traders proceeded with some caution ahead of tomorrow's pivotal US unemployment data. The market was also hit with a light wave of risk aversion as equities all traded in the red helping to bring the Yen crosses lower with them. EUR/JPY dipped below 136.60 to post a daily low after starting the day just north of the 137.20 mark. As well, GBP/JPY dropped as low as 159.50, the AUD/JPY dropped down to 79.60, and NZD/JPY touched 63.75 on a low.
USD/JPY touched 95.50 but then slid to under 95.25 in what would prove to be another tight range driven day for this pair. A casual observation would be that the USD/JPY pair has been gravitating around the 95.00 big figure for what seems like weeks now.

The British Pound continued to move within its new domain between 1.6750 and 1.6800 after yesterday's statement by the BOE that they would increase the size of their bond buying program to help stimulate lending. That data sent the pair falling like a stone to the tune of 1%. The EUR/USD was slightly stronger near 1.4365 after the ECB left rates unchanged yesterday and hinted that growth will soon return, quite possibly with some measure of inflation. The pair was continuing to drift higher in Asia after hitting a bottom of 1.4330 in NY. In Australia, the RBA monetary policy statement sent the AUD/USD higher to 0.8420 on talk from Governor Stevens that rates could be higher sooner than later, however, it seemed that the market had that data baked in to a greater extent than what was projected and the pair dropped back through 0.8365.

All eyes are riveted on the US NFP and Unemployment data due out tomorrow. The market is anticipating a loss of 320K jobs and the unemployment rate to jump to a 23 year high of 9.6% from last months 9.5%. Have a nice weekend.

Upcoming Economic Data Releases (London Session) prior expected