Themes

• General mood is “risk off”
• U.S. Non-Farm Payrolls stronger than expected at 390k from 325k talk
• Dollar bid on strong Payrolls;  strong surge in oil supports commodity currencies

What’s Moving

Very quiet session in Europe on Friday ahead of the U.S. Non-Farm Payrolls report, which is pretty much the leading economic data each month. Payrolls printed firmer than expected, with 390k new jobs added from talk of 325k. The Unemployment rate rise slightly to 3.6% on seasonals.

The Non-Farm Payrolls report saw a good bid enter the Dollar, with best gains seen against the Yen, while another surge in oil helped support commodity currencies.

US. Equities ended weaker on the day and on the week.

Thoughts

For today expect consolidation to dominate trade early with players expected to consolidate overnight movements in Asia.

Data today includes:

• Australian Job Advertisements (Last: -0.5%)  
• Chinese Caixin Services PMI (E: 46.1)

Pivot Points