Quiet ranges in holiday-thinned trade and ahead of nonfarm payrolls

USD/JPY was steady throughout the Asian session and edged slightly lower in to the European session. Markets are quiet today due to the Good Friday holiday in many countries. Volume was light since Wellington, Sydney, Hong Kong and Singapore, the UK and major markets in are closed for the Easter holidays. USD/JPY rose to 119.78 in Asia and fell back later to 119.60 in Europe. There is caution ahead of the US non-farm payrolls report later today. The bounce in US yields and modest Nikkei gains provided some support to the greenback.
EUR/JPY were slightly better bid. After initially falling back from 130.40 to 130.02, it saw some bounce thereafter. GBP/JPY fell back from 177.67 to 177.29 before steadying. AUD/JPY fell back from 90.90 to 90.58 before bouncing later to 90.98. NZD/JPY traded similarly, off from 89.94 to 89.66 before bouncing to 89.97.

EUR/USD traded sideways and is not expected to do much today since there are no news releases with the holidays throughout Europe. Yesterday the pair rallied to as high as 1.0906. EUR/USD held onto gains today and consolidated between 1.0886 to 1.0890. There is caution ahead of the US NFP data . EUR/GBP traded a tight 0.7326-38 range just under its 0.7350 high overnight. EUR/CHF traded sideways between 1.0433-46, also below its 1.0450 overnight high.

GBP/USD traded in a tight 1.4821-40 range.

USD/CHF hovered around 0.9600 in a tight 10-pip range.

AUD/USD fell back from an early high of 0.7594 to 0.7571 before bouncing later to 0.7605 as more AUD shorts chose to pare positions ahead of the US NFP.

NZD/USD traded in sync with AUD/USD, edging down from 0.7509 to 0.7498 before bouncing later to 0.7521 on short-covering.

The post Quiet ranges in holiday-thinned trade and ahead of nonfarm payrolls appeared first on Forex Circles.

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