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Markets tread water ahead of jobs data &......>

FOREX
FOREX: Markets tread water ahead of jobs data & earnings
- G10 FX is largely treading water in early Thursday trade awaiting the latest
weekly jobless claims data at the NY crossover. US equities were sold into the
close Wednesday, but the outlook is a little more stable this morning. European
stocks generally sit slightly higher, reflected in positive US futures.
- Newsflow and data have been few and far between, but this hasn't stopped the
dollar from progressing slightly further, with the greenback higher again
against most others in G10. NZD, GBP and AUD are the weakest so far, but recent
ranges have been largely respected. Aussie jobs data overnight fared better than
expected, but the numbers failed to prop AUD across Asia hours.
- President Trump is due to be chairing a videoconference of G7 leaders Thursday
due to begin at 1330BST/0830ET which may take some focus. US initial jobless
claims are likely to draw further attention, with 5.5mln initial claims eyed.
The range of estimates is again wide, with a low at 2mln and a high of 8mln. US
housing starts and building permits are also on the docket. BlackRock, Morgan
Stanley and BNY Mellon earnings are due.

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