The aussie is leading the major currencies bloc
The yen is weighed lower after Japanese officials chimed in to provide markets with some assurances and to boost confidence after yesterday's flash crash. Aside from that, a more positive spin on risk sentiment is also helping to lift the mood in yen pairs to begin the day.
And that is very much reflected in gains seen in the aussie with US and China set to meet for another round of talks next Monday and Tuesday. As it stands, E-minis are trading up by 0.8% to session highs now and that is going to keep risk assets in a good mood as we approach European trading.
Oil is also up by 1.3% now near the highs so that should at least provide some backing to the loonie for the time being. Although, plenty of focus will be on the jobs report later so any gains could be tempered with as markets may only look for a significant extension to the trading range thereafter.
Other major currencies are still trading rather tepidly on the day with ranges still relatively narrow. The dollar is mixed after a poor showing following the dismal ISM manufacturing data overnight. All eyes will be on the US non-farm payrolls report later to come but in the meantime, there will be some economic data in Europe to nudge markets a little.
