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USD Softer Pre-Payrolls, With Focus on AHE

  • The greenback is fading into the NY crossover, with a brief blip higher for the USD Index being largely erased into US hours. EUR/USD neared the weekly low of 0.9753, coinciding with a fade in GBP/USD to 1.1116.
  • GBP is the firmest currency in G10, but recent ranges are largely being respected. EUR/GBP is within range of yesterday's lows at 0.8718, a break below which opens key support and the bear trigger at 0.8649.
  • AUD/USD sits higher, narrowing the gap with first resistance at 1.1373 - the 23.6% retracement for the August - September upleg. A break above here opens 1.1434 ahead of the cycle high at 1.1491.
  • Focus turns to nonfarm payrolls, with markets looking for ~260k jobs added this month, while the unemployment rate is seen unchanged at 3.7%. Fedspeak takes focus following the figure, with Fed's Williams, Kashkari and Bostic due after the release.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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