What's coming up
Tomorrow is non-farm payrolls and the wage data is going to be critical, especially for USD/JPY and the bond market.
Today, the trend in USD/JPY is taking a little break. I'll be interested to see if the selling continues as New York trading picks up. Yields remain higher but the 10-year is back to 3.20% from a high of 3.23%.
There is some notable data today starting with initial jobless claims at the bottom of the hour. Then at 1400 GMT (10 am ET) there is the factory orders report, including revisions to durable goods orders. At the same time we get the Canadian Ivey PMI.
Speakers include the Fed's Quarles (on community banks at 1315 GMT) and the ECB's Nowotny (1330 GMT on monetary policy).
Keep an eye on Italy with more budget details to come.
