Major currencies still caught in that pre-NFP lull

FX 07-01

Elsewhere, equities are also looking fairly tentative while Treasury yields are little changed. This is shaping up to be a typical placeholder session awaiting the US jobs report later in the day.

Going back to FX, EUR/USD is still caught around 1.1300 with large expiries holding close to the figure level today. Meanwhile, USD/JPY is also still toying with a potential break of 116.00 as buyers seek validation from the key risk event later. GBP/USD is holding just below its 100-day moving average at 1.3552 but above its key hourly moving averages at 1.3497-20.

As for commodity currencies, AUD/USD is pinned down around 0.7150-60 as sellers stay in near-term control in the hunt towards 0.7100. Large expiries at 0.7160 and 0.7200 are ones to take note of for today.

US December nonfarm payrolls report due Friday 07 January 2022 – preview

Goldman Sachs is looking for more than 400K:

  • We estimate nonfarm payrolls rose 500k
  • We estimate a one-tenth drop in the unemployment rate to 4.1%

Morgan Stanley, on the other hand, have a below consensus call:

  • We expect nonfarm payrolls increased by 260k in December with an uptick in participation
  • leaving the unemployment rate unchanged at 4.2%
  • We expect average hourly earnings rose 0.3%M, lowering the year-over-year rate to 4.1%

Moderna CEO says people may need a 4th Covid shot

CNBC carries the report.

  • Moderna CEO Stephane Bancel on Thursday said the efficacy of boosters against Covid-19 will likely decline over time, and people may need a fourth shot in the fall of 2022 to increase their protection.

More at that link above.

Israel is already providing a fourth shot to at-risk people. This for way back in mid-December:

  • Immunization Committee in Israel votes for the provision of a fourth vaccine dose to at-risk groups

My daily coffee booster regime:

coffee cups
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