The market consensus for non-farm payrolls is presently about -175,000 but Goldman is slightly less optimistic. They see payrolls falling 200,000. The labor market remains weak despite a drop in claims, they say.

Goldman had been among the more upbeat forecasters this year but has been changing its tune of late as their below consensus GDP forecast this week illustrates.

EUR/USD sits at session lows of 1.4852; next technical support is 1.4815.