Themes

• General mood is “risk off”
• U.S. Non-Farm Payrolls much stronger at +467k from talk of +110k
• Euro outperforming the Dollar on technical buying

What’s Moving

The story on Friday was the Non-Farm Payrolls report, with payrolls printing much stronger than expected, but the Unemployment rate rising. This shows that while a lot of new jobs have been created, massive revisions and seasonal adjustment is actually behind the stronger headline number.

The Dollar was strong against all of the majors on Friday, with the only exception being the Euro, which was the strongest o the majors. Talk is of technical buying supporting the Euro.

Oil prices again surged, while gold also rose slightly.

Thoughts

Expect the usual quiet start to the week in Asia today, with China also back after its Luna New Year holidays. Local data today sees:

• Australian Job Advertisements, and 
• Chinese Caixin Services PMI (E: 50.5)

Pivot Points