Its US jobs report Friday, previews:

China was once again out on holiday today. Combined with the wait for the upcoming US January jobs report (nonfarm payroll, previews in the bullets above) much of major FX traded in small ranges.

EUR/USD was a bit of an exception. After the ECB and President Lagarde’s less dovish remarks the euro rose on Thursday (Europe/US time). That rise extended just a little here in Asia as markets reassess how much policy divergence there is likely to be ahead between the US and Eurozone. EUR/USD ticked around 30 points higher during the session.

Cable, too found a few bids during Asia, its up around 20 points off its early in the session low.

The RBA, Australia’s central bank, released its February Statement on Monetary Policy. The SoMP is published four times a year. In today’s publication the Bank upgraded its inflation and employment outlook for the quarters ahead, while still expecting only a slow build ahead for wage pressures. The Bank reiterated its patient view on policy adjustment ahead. AUD/USD is little changed on the session.

Equities benefited from a strong report from Amazon after regular (US) trading hours and a subsequent circa 15%+ jump for the shares.

New RBA forecasts (in summary):

rba somp forecasts 04 February 2022