NFP not enough to sustain highs - The jobs....>

FOREX: NFP not enough to sustain highs

- The jobs report saw broad-based weakness, with the headline around 15k shy of

consensus. Average hourly earnings disappointed, missing by 0.2 ppts. While US

equities managed to hit fresh alltime highs, (the Dow Jones Industrial Average

tilted north of 29,000) the data added some weight from the open, prompting US

equities to head for a negative close for only the second time this year. This

added some weight to the greenback, but the Thursday low held firm.

- Elsewhere, the AUD was comfortably the best performer Friday despite the turn

lower in risk sentiment. The price action was indicative of short-covering, with

those who'd set shorts on the bushfire news earlier in the week likely closing

positions and helping support the pair north of $0.69. AUD/USD now looks to

close above the 200-dma for the first time since mid-December.

- Inflation and retail sales data from both the US & UK as well as China trade

balance & GDP numbers are the data highlights of the coming week. Speeches from

various Fed and BoE members are due as well as the ECB President Lagarde on

Thursday. US earnings season also begins in earnest.