European pre-market: Currencies steady to start the day
Little change observed among major currencies on NFP Friday
As is typical on non-farm payrolls Friday, major currencies are keeping little changed as we look to begin European trading.
Risk trades got a bit of a minor jolt from news of China waiving tariffs on some US farm purchases but I remain a bit skeptical on the headlines as I fear it could be read in a different manner than what the market is thinking now.
That said, USD/JPY is barely moved on the headlines with the pair sticking around 108.69 for now despite yields nudging a little higher on the headlines.
Despite some mild gains seen in the kiwi and aussie, both currencies are keeping in narrow ranges still against the dollar - 15 and 20 pips respectively.
Overall, currencies aren't really moving much just yet as traders may be a bit hesitant in anticipation of the US jobs report. Looking ahead, pay attention to the risk mood as the China headlines may lend itself to further gains in risk assets to wrap up the week.