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Consolidation ahead of US jobs report - FX....>

FOREX
FOREX: Consolidation ahead of US jobs report
- FX major currency pairs witnessed light volumes through Europe as focus turns
to the US jobs report for direction.
- AUD continued to underperform and sits bottom of the G10 pile with losses of
0.60%. Renewed trade rhetoric and softer equities pressured the AUD complex.
AUDUSD extended its decline to multi-year lows of $0.7138. AUDNZD eased to
NZ$1.0872, before meeting support from the 100-dma, EURAUD printed multi-year
highs of A$1.6290, while AUDJPY briefly dipped under Y79.00.
- Early USD longs unwound which saw both EUR & GBP move from session lows to
session highs in a matter of minutes, before stabilising in narrow range trade. 
- SEK is top of the pile (+0.25%) and continues to pare yesterday's dovish
Riksbank losses to Sek10.5710.
- Main focus turns to US NFP (1230GMT). Payrolls are forecast to rise by 195k in
August after a weaker-than-expected 157k rise in July. The unemployment rate is
expected to fall further to 3.8% after dipping to 3.9% in July. AHE are forecast
to rise 0.2% after a 0.3% gain.
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