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Forex Today – Asian Session: Non-Farm Payrolls Could Mean An Even More Aggressive Fed

What you need to know on Friday, January 7:

The dollar retained most of its post-Minute gains from the FOMC, even though US data is generally disappointing. Stocks remained bitter, while US government bond yields held near the multi-month highs reached on Wednesday.

EUR / USD closed around 1.1290, at the lower end of its weekly range, while GBP / USD is trading around 1.3520. The AUD / USD pair was down, now trading at the 0.7160 zone, undermined by gold prices as the shiny metal fell to end the day at $ 1,788 a troy ounce. The loonie, on the other hand, appreciated against the dollar, with USD / CAD trading in the 1.2720 region, as crude prices rose to new multi-month highs. A barrel of WTI peaked at $ 80.11, now trading at $ 79.70.

Officials at the US Federal Reserve reinforced the idea of ​​a more aggressive Fed. St. Louis Fed Chairman James Bullard said the Federal Reserve could raise interest rates in March, while Federal Reserve Bank of San Francisco President Mary Daly said that they will need to increase interest rates to keep the economy in balance.

On Friday, the focus will turn to the US December Non-Farm Payrolls report. The country is expected to have added 400,000 new jobs after gaining 210,000 in November. The unemployment rate is forecast to be 4.1%, up from 4.2% previously, although the underemployment rate is expected to rise, from 7.8% to 8%.

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