It is Non-farm Payrolls Friday and there is a cautious outlook across forex markets ahead of the release with the dollar trading mildly weaker. The Fed still claims to be data dependent and the mixed batch of US data recently which drove an initial correction for the dollar followed by a retracement of the move which sets us up fairly cautiously once more for the payrolls. The consensus is expecting a somewhat middle of the road batch of data and a report that will do little to ignite the fires inside the bellies of the FOMC hawks. It could therefore be a rather uncertain reaction to the report today. Markets are mildly dollar negative in ... (Read the full story)
