Jobs data boosts AUD, but markets suspect.....>

FOREX: Jobs data boosts AUD, but markets suspect relief could be temporary

- Considerably better-than-expected Australian jobs data for December helped

boost the currency overnight and is keeping AUD at the top of the G10

leaderboard ahead of the G10 crossover. Australia added just shy of 30,000 jobs

over the month and the unemployment rate unexpectedly declined by 0.1ppts.

Nonetheless the rally may have been hampered by suspicions that much of this

progress could reverse as the data captures the recent bushfires.

- CAD is extending weakness seen in yesterday's session after the dovish Bank of

Canada decision. USD/CAD now looks to secure the first close above the 50-dma

since early December, with focus turning to 1.3179 as the next level.

Separately, JPY also trades well as further reports suggest the Coronavirus is

spreading in China, despite the government's attempts to shutter and minimise

transport ahead of the Lunar New Year holidays.

- The ECB rate decision takes focus, but markets aren't expecting much. EUR/USD

options are pricing in the smallest intraday move for any ECB meeting of the

past 12 months. US weekly jobs data and Eurozone consumer confidence are due.