Currency Updates:
The Australian Dollar (AUD): The miss on the NFP data and unemployment rate spiked USD lower which made the pair rallied to 0.9290 quickly and further lifted towards 0.9308 but was unable to break above it. Later in the session, the AUD just sat near hourly support at 0.9280. A relatively light US data week will put AUD trades focus on the March Oz jobs report on April 10th.
AUD/USD: A better than expected Oz job data could help the AUD to test 0.9340 resistance, a break above there could trigger a run towards 0.9450.
EUR/USD: The pair was sitting close to 1.3700 area before the NFP, as the data came out below f/c, EUR/USD made a quick lift to near 1.3720. However, the gain was quickly given away as well as JPY strength came in, EUR/JPY slipped to a low of 141.42, dragged the EUR/USD to a low of 1.3672. Bids into TL support of the July low & 21 WMA halted the slide. Light data are due for this week, could see this pair trading in a tight range.
USD/JPY: Both Treasury yields and US equities fell on Friday, most yen crosses were overbought on daily studies, adding to the yen’s rebound. The pair initially reached to a high of 104.13 but slid all the way back down to 103.20 area. USD/JPY retraced 38.2% of the rise from March 27 at 103.20 after near doubled daily highs. 103.10 cloud top just below.
Looking Ahead – Economic Data (GMT)
• 21:30 AU ANZ Newspaper Job Ads Mar -0.5
• 21:30 AU ANZ Internet Job Ads Mar 5.3
• 23:30 AU AIG Construction Index Mar 44.2
• 23:50 JP Foreign Reserves Mar 1288.20b
• 05:00 JP Coincident Indicator MM Feb 2.5
• 05:00 JP Leading Indicator Feb 0.5
Looking Ahead – Events, Other Releases (GMT)
• : JP Bank of Japan Monetary Policy Meeting (to Apr 08).
