
- Dollar is trading mixed ahead of the US jobs report, with the USD/CNH rising to breaking out of its tight consolidation. It comes as the PBOC’s current governor said China has ‘lots of policy room if trade war worsens’ and after a former governor said publicly that their currency is no longer forbidden from dropping through Y7.
- With stocks rising on the back of recent falls in bond yields, owing to signs that central bank policy outlook has taken a decidedly dovish turn, safe havens CHF and JPY were on the back foot, while EUR gave back some gains following yesterday’s rise on the back of a not-so-dovish ECB. The GBP extended recovery ahead of NFP on May’s last day as PM
- As well as US employment report, the Canadian jobs numbers will be in focus as US traders enter the fray…
