USD Ticks Higher, As the Market Awaits Non-Farm Payrolls

The dollar has ticked modestly higher, as the market awaits the non-farm payroll print later in the US time zone. The BBDXY last close to 1274.20, a touch above NY closing levels from Thursday.

• Cross asset signals have been fairly muted, with US yields back near flat, after rising modestly in the first part of trade. Upticks in oil have generally been sold by the market. It's a similar backdrop for US equity futures, which are close to flat for the major benchmarks.
• USD/JPY sits slightly higher, last near 148.75, close to session highs. Earlier data showed weaker than expected real wages growth, albeit with some offset from better than forecast household spending. Speculation continues on the next BoJ policy shift. The latest piece from the MNI policy team suggests YCC could be scraped by next April (see this link).
• AUD/USD has outperformed modestly, last near 0.6370. A better regional equity backdrop, led by HK has probably helped at the margins. The RBA Financial Stability Review focused on household stress under the higher interest rate burden, but didn't paint an alarming picture.
• NZD/USD was last near 0.596, down slightly, while EUR/USD is around 1.0540 in recent dealings.
• Looking ahead, outside of nonfarm payrolls, German factory orders, Italian retail sales and the Canadian jobs report are also on the docket. Meanwhile, Fed's Waller is set to speak.