USD Steady, As Markets Await NFP

Broader USD trends have been steady in the first part of Friday Asia Pac trade. The BBDXY last tracked near 1273.40, a touch above recent lows.

• Cross-asset signals are relatively muted in early Friday trade. US equity futures sit modestly lower, while US yields are a tick higher, although gains across the curve are less than 1bps at this stage.
• Oil prices are seeing some support, Brent last near $84.50/bbl, against recent lows around $84/bbl.
• Japan labor earnings data was weaker than expected, while household spending rose from cyclical lows, but remains comfortably negative in y/y terms. Fallout for yen has been limited though. USD/JPY last tracked near 148.50, little change versus Thursday NY closing levels.
• AUD/USD is steady around 0.6370, with the RBA Financial Stability Review out in around 15mins. Focus is likely to be on the housing market, and mortgage stress for households.
• NZD/USD is near 0.5970, largely drifting sideways, while EUR/USD is a touch under 1.0550.
• Outside the RBA Financial Stability Review, risk events are light for the remainder of the Friday session, with focus likely to be on the non-farm payrolls print due in the US session later.