The aussie is up after short covering on retail sales data earlier
The aussie is keeping a little higher after the more upbeat retail sales data earlier helped to see some short covering ahead of the US jobs report later today. Cash rate futures now see ~40% odds of a RBA rate cut next month - down from ~50% yesterday.
The rest of the major currencies bloc are keeping in more narrow ranges with little change observed overall as we begin European trading. For some context, EUR/USD is resting in just a 9 pips range between 1.1102 and 1.1111 thus far.
Meanwhile, the risk mood is also keeping more steady with bonds a tad weaker while equities are a little higher as well. US futures are up by ~0.2% and that should lend to more steady tones in early trades in Europe. USD/JPY is just a little higher at 109.58 currently.
Looking ahead, it is all about the anticipation and countdown to the US non-farm payrolls data. Given that markets have phased out geopolitical tensions, I would expect more steady but not too greedy price action to prevail in the European morning session.
