The US$ is generally a little lower on Friday, on the back of some profit taking following the recent rally ahead of the upcoming US jobs data. Sterling led the way higher, dragging the Euro along with it, on news that the Brexit negotiations are making some progress. The Yen is also stronger due to some risk aversion as US stocks headed lower, while the Aud$ and Kiwi are the weakest currencies on the day due to widening monetary policy divergence.
US Stocks are closing down around 0.8% and WTI is down 2.5%, mainly on the back of higher US yields, where the 10s reached 3.23% today but are closing a little lower at 3.19%.
Friday will be the real focus of the week, beginning with the Australian August Retail Sales (exp 0.3%), and later to be followed by the German Factory Orders and PPI but all eyes will be on the US jobs data, (exp Jobs; 3.8%/, NFP; 188K/, Average Hourly Earnings 34.5/, PR;62.6%). Have a good weekend. US holiday Monday. NSW changing clocks this weekend.
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