AceTraderFx: Intra-Day Market Moving News and Views

[AceTRaderForex]

AceTraderFx Jan 05: Intra-Day News and Views EUR/GBP

Intra-Day Market Moving News and Views
05 Jan 2017 01:30GMT

EUR/GBP - 0.8535.. A piece of Brexit news on U.K. Telegraph which came out in Australian morning worth noting. PM Theresa May will threaten to take Britain out of the single market unless the UK is given full control of its borders in a significant Brexit speech designed to counter claims she has no plan for leaving the EU.

The Prime Minister will outline her "vision for Britain outside of the EU" in a major speech later this month that will focus on the economy and immigration.
Both David Davis, the Brexit Secretary, and Boris Johnson, the Foreign Secretary, are having "significant" input into the speech, sources said. However, Liam Fox, the Trade Secretary considered one of the "three Brexiteers" alongside Mr Davis and Mr Johnson, is understood to have been sidelined.

The speech will be seen as a retort to claims of "muddled thinking" in Mrs May's Government by Sir Ivan Rogers, who on Tuesday resigned as Britain's EU ambassador after a series of rows with Downing Street.
One source predicted that Mrs May will make the speech after a Supreme Court ruling which will decide whether she has to formally consult Parliament before triggering Article 50, which begins formal Brexit negotiations.

Downing Street wants to get back on the front foot in the wake of the shock resignation of Sir Ivan, who had been "cut adrift" by Mrs May and her allies because of his negative view of Brexit.

 

[AceTRaderForex]

AceTraderFx Jan 05: Intra-Day News and Views EUR/USD

Intra-Day Market Moving News and Views
05 Jan 2017 08:11GMT

EUR/USD - 1.0562.. A piece of euro supportive news. Reuters reported German economists called on the European Central Bank on Thursday to raise interest rates after euro zone consumer prices grew faster than expected in December.
The European Central Bank aims for an inflation level of just under 2 percent but has undershot the target for years. It has been buying tens of billions of euros of government bonds each month to inject more cash into the banking system and stimulate price rises in the economy.

But data on Wednesday showing that prices in the 19 countries sharing the euro rose 1.1 percent on the year last month have stirred a historic fear of inflation among Germans that goes back to the 1920s.
DIW institute chief Marcel Fratzscher told the paper: "The sooner the inflation rate in Europe reaches the goal of 2 percent, the quicker the ECB can raise interest rates. Savers would also benefit from this."
Isabel Schnabel, one of the panel of economists that advises Chancellor Angela Merkel's government, told Bild an end to ultra-expansive monetary policy should come soon.

The comments add to a chorus from Europe's biggest economy after the head of the Ifo institute Clemens Fuest said a jump in German inflation was a signal for the ECB to end its expansive monetary policy and its bond buying programme.
German consumer prices, harmonised to compare with other European countries (HICP) rose by 1.7 percent on the year in December after increasing 0.7 percent in November, the Federal Statistics Office said on Tuesday.

 

[AceTRaderForex]

AceTraderFx Jan 06: Intra-Day News and Views AUS/USD

Intra-Day Market Moving News and Views
06 Jan 2017 01:17GMT

AUS/USD - ..... Despite release upbeat Australian trade data, AUD showed muted reaction to this.
Reuters reported earlier Australia boasted its first trade surplus in almost three years in November as surging commodity prices boosted export earnings beyond all expectations, a much-needed windfall for mining profits, national income and tax revenues.

Friday's data from the Australian Bureau of Statistics showed a trade surplus of A$1.24 billion ($908.92 million)in November, far above forecasts of a A$500 million deficit.
Exports jumped by 8.4 percent, or a whopping A$2.3 billion, to top A$30 billion for the first time ever. Coal, iron ore and rural exports all enjoyed double-digit gains, while imports were unchanged on the month.

November's barnstormer ended a 31-month run of deficits and is likely a just a taster of more to come as prices for many key resources remain strong on the back of sustained Chinese demand.

Data to be released on Friday:

Australia exports, imports, trade balance, Germany industrial orders, France exports, imports, trade balance, current account, EU retail sales, business climate, economic sentiment, industrial sentiment, consumer confidence, Canada unemployment, exports, imports, trade balance, Ivey PMI, U.S. non-farm payrolls, private payrolls, unemployment rate, average earnings and factory orders.

 

[AceTRaderForex]

AceTraderFx Jan 09: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
09 Jan 2017 03:11GMT

USD/JPY - ..... In stark contrast to recent weakness in Asian morning seen in last few sessions, the greenback opened flat in New Zealand on Monday and then climbed above Friday's 117.18 (post-NFP New York) top in Australia and then to intra-day high of 117.35 in holiday-thinned Asia (Japanese financial markets are closed for Coming of Age holiday) due to renewed cross-selling in yen esp vs usd, eur and aud as Friday's gain to record highs in the Dow boosted risk appetite.

As has maintained a firm undertone, suggesting near term rise from Fri's 3-week trough at 115.07 would extend marginal gain, as broad outlook remains consolidative, strong rise from current level is not envisaged.
Bids are noted at 117.00-116.90 n move below, offers are tipped at 117.50/60 with some stops above 117.75.

Although there is no U.S. eco. data today following Fri's key jobs report, do pay attention to speeches by Boston Fed President Eric Rosengren at 14:00GMT, Atlanta Fed Dennis Lockhart at 17:40GMT n Chicago Fed President Charles Evans at 18:00GMT respectively.

 

[AceTRaderForex]

AceTraderFx Jan 10: Intra-Day News and Views EUR/USD

Intra-Day Market Moving News and Views
10 Jan 2017 04:29GMT

EUR/USD - ..... Euro continued to capitalise on its yesterday's gain in New York session on the back of a spectacular rally in eur/gbp cross, traders bought the euro and sold sterling actively as w/end Brexit comments by UK PM May ignited market concerns of a possible 'hard' Brexit.
Euro easily rose above European 1.0556 top and hit session highs of 1.0583.

Despite initial sideways move in Aust., renewed buying in eur/gbp sent price higher above said New York top n euro climbed to 1.0619 near Asian midday with stops above last Friday's 1.0622 high and then December's peak at 1.0655 are now in focus.

Bids have been raised to 1.0590-80 and more below with stops below 1.0550, some offers are tipped at 1.0620/30 and more above with fairly large stops touted above 1.0660.

Offers are tipped at 115.90/00 and more at 116.15/25 with stops above 116.55.
A mixture of bids and stops is reported at 115.10-00.

 

[AceTRaderForex]

AceTraderFx Jan 11: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
11 Jan 2017 03:07GMT

USD/JPY - 116.10.. The greenback regains traction in Asian trading on Wednesday after yesterday's roller-coaster ride. Despite Tuesday's intra-day fall from 116.21 to 115.20 in Asia, dlr rallied to session high of 116.34 at New York open and only to fall back to 115.29 on renewed cross-buying in yen.
However, renewed usd's broad-based strength in New York afternoon lifted price to 116.05/06 and dlr-buying continued in Tokyo today and sent the pair to 116.25.

Yesterday's rebound from 115.20 suggests further volatile trading above last Friday's 3-week trough at 115.07 would continue as investors are keenly awaiting key press conference by U.S. President-elect Donald Trump at 16:00GMT. Anticipated Trump's fiscal stimulus plan should be usd supportive.
However, on the flip side, his protectionist stance esp. over China and Japan would trigger yen-buying.
Therefore, traders need to hear from the horse's mouth what his forthcoming official plans are before establishing more positions.

Offers are tipped at 116.25/35 with some stops above there, more selling interest is noted at 116.65/75.
Bids are noted at 115.80-70 n more below with stops below 115.20. There is market chatter of fairly large stops below 115.00.

 

[AceTRaderForex]

AceTraderFx Jan 12: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
12 Jan 2017 03:12GMT

USD/JPY - ...... Yesterday's was a classic case that the market does not always get it right.
Although the greenback was very well bid across the board in Europe n New York morning as traders loaded up long usd positions in anticipation that U.S. President-elect Trump will outline his U.S. fiscal stimulus measures, the pair climbed from 115.82 to as high as 116.87 in New York.
However, traders dumped the buck when after Trump disappointed the market and resulted in a free fall to session lows of 114.25.

Despite staging a short-covering rebound to 115.63, dlr ratcheted lower in Australia and Tokyo trading today on renewed usd's weakness, price fell back to 114.62 ahead of Tokyo lunch break.
Dlr's intra-day weakness due partly to yen's strength vs eur, gbp and aud etc suggests consolidation with downside bias remains, so selling the pair on recovery is favoured.

Offers are tipped at 115.00/10 and more above with stops above 115.65.
Some bids are noted at 114.60-50 n more below with stops below 114.20.

After Trump news conference, market may go back to basics and pay attention to release of U.S. eco. data as well as speeches by a great number of Fed officials (see 01:30GMT update for details).
U.S. will release weekly jobless claims, export n import prices, all due out at 13:30GMT which are unlikely to have much influence on price but hawkish comments by Fed speakers may have a brief supporting effect.

 

[AceTRaderForex]

AceTraderFx Jan 13: Intra-Day News and Views GBP/USD

Intra-Day Market Moving News and Views
13 Jan 2017 01:24GMT

GBP/USD - ..... The news that made the most impact to price was Thursday's Brexit news which came out near European close which knocked cable from 1.2289 to as low as 1.2152 near New York close.
Reuters reported earlier sterling slipped on Thursday after a spokeswoman said British PM Theresa May will give a speech next week on her plans for leaving the European Union, which sparked fears that she would suggest Britain will undergo a "hard Brexit".

Sterling skidded to its lowest levels for almost 32 years -excluding a "flash crash" in October - this week, after May said over the weekend that Britain would not keep "bits" of EU membership when it leaves the bloc.
Investors interpreted this to mean Britain would lose access to the lucrative European single market in order to give priority to reasserting full control of its borders to curb immigration.

This scenario has come to be known as "hard Brexit" a phrase that May herself rejects. The pound had rebounded to as high as $1.2317 earlier on Thursday against a dollar weakened by a lack of detail on President-elect Donald Trump's spending plans in his first news conference since his election on Wednesday.
Traders are also awaiting a decision - expected in the coming days - from Britain's Supreme Court on whether to uphold a High Court ruling last year that said May's government needed parliamentary approval before triggering "Article 50", which will formally kick off Brexit negotiations with Brussels.

Investors reckon that if lawmakers from across the political spectrum - a majority of whom backed staying in the EU in June's referendum - are involved in activating Article 50, they will push for a "softer" Brexit, which would be sterling-positive.
A further boost to sterling could come if Britain is forced to delay its exit talks because of a potential suspension of Northern Ireland's regional assembly - which a lawyer said on Wednesday was a possibility. The resignation of Northern Ireland Deputy First Minister Martin McGuinness on Monday effectively collapsed the devolved government.

Bank of England Governor Mark Carney said on Wednesday that the immediate risks from Brexit had fallen, and that the central bank may now raise its forecasts for the UK economy.

 

[AceTRaderForex]

AceTraderFx Jan 16: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
16 Jan 2017 05:00GMT

USD/JPY - ..... Dlr slips in Asia on Monday despite the greenback's firm posture vs other major currencies due to renewed market fears of 'hard Brexit' fears triggered broad-based yen buying on risk aversion, leading to decline in dlr/yen, eur/yen, gbp/yen, and aud/yen....

Although dlr has edged higher from intra-day 113.98 low on short covering ahead of Tokyo lunch session, suggesting range trading is in store until European open. If European traders sell the pound again when they come in, then more yen buying may come and dlr/yen will fall further, otherwise, price may pare intra-day loss n ratchet higher later today.

For now, offers are tipped at 114.40/50 and more above with stops above 115.00.
Some bids are noted at 114.00-1139.90 with stops reported below last week's low at 113.76.

As U.S. financial markets are closed for Martin Luther King, Jr. Day holiday, no U.S. eco. data are due out, so keep an eye on the yen's movement during European morning session.

 

[AceTRaderForex]

AceTraderFx Jan 17: Intra-Day News and Views USD/JPY

Intra-Day Market Moving News and Views
17 Jan 2017 02:09GMT

USD/JPY - ...... Dlr swung broadly sideways in Asian morning. Despite initial drop to 113.84 shortly after Tokyo open as weakness in the Nikkie to a 4-week low at 18849 (currently at 19454) triggered yen buying.
however, renewed buying above yesterday's 5-week trough at 113.76 lifted the pair to 114.28, suggesting further choppy trading above said Mon's low would continue.

Market remains jittery ahead of U.K. PM May's speech later today around 11:45GMT as she outlines her so-called 12 priority points for upcoming Brexit negotiations of leaving the EU's single market as well as regaining complete control of Britain's borders (immigration control).

The yen may gain if market interpret her speech will lead to a 'hard Brexit'.
For now, offers are tipped at 114.30/40 and more above with stops reported above 114.55. However, more selling interest is touted at 115.00/10.
On the downside, bids are noted at 114.00/113.90 with stops below 113.70.

After PM May's speech, U.S. will release New York Fed manufacturing index, also New York Fed President William Dudley will speak at an event at 13:45GMT and later at 15:00GMT, Fed Board Governor Lael Brainard speaks on monetary and fiscal policy before the Brookings Institution in Washington.

 

[AceTRaderForex]

AceTraderFx Jan 18: Intra-Day News and Views EUR/USD

Intra-Day Market Moving News and Views
18 Jan 2017 05:07GMT

EUR/USD -..... In contrast to yesterday's biddish undertone due to broad-based usd weakness in Asia n Europe, the single currency moved relatively narrowly below Tuesday's 5-week high at 1.0719 with a soft bias as buying has somewhat dried up after yesterday's rally from 1.0597 (AUS) to as high as 1.0719 just ahead of New York open after tripping a series of stops above 1.0635, then 1.0685.

Intra-day strg retreat in the pound is likely to drag euro lower ahead of European open, suggesting consolidation would continue after recent upmove.
Offers are tipped at 1.0710/20 with stops above there, more selling interest is touted at 1.0740/50 whilst bids are noted at 1.0680-70 with stops below 1.0635.

Euro area will release some data starting with Germay's CPI, HICP, n EU CPI but as these are final revisions, traders may not pay much attention to them until the release of U.S. inflation data at 13:30GMT. Also, Daniele Nouy, Chair of the Supervisory Board of the ECB will speak around 10:30GMT in Germany.

 

[AceTRaderForex]

AceTraderFx Jan 19: Intra-Day Market Moving News and Views

Intra-Day Market Moving News and Views
19 Jan 2017 05:12GMT

USD/JPY - ..... Dlr pares o/n sharp gain in late New York trading after rallying from 113.58 to as high as 114.75 following Fed Chair Yellen's comments which were interpreted as being hawkish by the market.

The pair extended o/n gain at Tokyo open as intra-day strg rebound in the Nikkie (N225 rose 1% from Wednesday's 6-week low of 18650) triggered more broad-based yen selling n pushed price to 114.89 before retreating to 114.44/45 during Tokyo lunch session.

Looks like a temp. top has been made a Asian traders await reaction from European traders after Wednesday's broad-based usd gain which took place after European close.
Offers are tipped at 114.80/00 area with stops above there.
Bids are noted at 114.40-20 with some stops below 114.00.

Later today, U.S. will release a slew of eco. data starting with the usual weekly jobless claims, building permits, housing starts and Philly business index.

 

[AceTRaderForex]

AceTraderFx Jan 20: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
20 Jan 2017 03:47GMT

USD/JPY - ...... Dlr is currently trading at roughly where it was in Asia 24 hours ago after a relatively volatile Thursday session.
The greenback found renewed buying at 114.41 in European morning n resumed Tuesday's rally to a 1-week high of 115.61 near New York midday, however, intra-day broad-based strong retreat in the usd knocked price back down to 114.67 near the close and despite a brief bounce to 115.13 shortly after Asian open, the pair fell to 114.56 as Yellen's speech triggered another round of usd selling.

Dlr's retreat from said Thursday's 1-week high at 115.61 suggests this temp. top may well hold in Europe n New York morning as market is awaiting Trump's official speech at his Presidential inauguration at 16:30GMT.
Until then, buying interest is noted at 114.55-45 with some stops below 114.30, more buying is noted at 114.10/00. Offers are tipped at 115.00/10 and more above with stops reported above 115.65.

 

[AceTRaderForex]

AceTraderFx Jan 20: Intra-Day Market Moving News and Views GBP/USD

Intra-Day Market Moving News and Views
20 Jan 2017 07:37GMT

GBP/USD - 1.2353.. Cable ratcheted higher in tandem with euro in Asian trading on Friday following yesterday's erratic rise from 1.2252, price hit an intra-day high of 1.2373 after tripping some stops above 1.2355 but soon retreated on lack of follow-through buying.

Expect consolidation in early European trading as traders await release of U.K. December retail sales data at 09:30GMT. Street forecast for M/M to come in at 0.2% and Y/Y at 7.3%, if actual readings are stronger than expectation, then further broad-based buying in the sterling would be seen.
If the figures disappoint, then be prepared for a stronger retreat as market confidence remains fragile due to the coming prospect of a 'hard Brexit'.

Offers are tipped at 1.2370/80 and more above with stops reported at 1.2420.
Some bids are noted at 1.2330-20 with stops below 1.2300.

 

[AceTRaderForex]

AceTraderFx Jan 23: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
23 Jan 2017 05:00GMT

USD/JPY - ..... The pair tumbles in Monday's Asian trading due to broad-based USD weakness as well as renewed yen-buying on risk aversion.

Price opened lower in New Zealand following dlr's decline in post-Trump inauguration New York session as traders reacted negatively to Trump's rhetoric of 'protectionism' in his inauguration speech and yen was bot broadly as safe-haven currency in Australia, intra-day decline accelerated as the Nikkie also fell in Tokyo morning.

The fact that price is trading just above Asian morning low of 113.44, suggesting downside bias remains for further weakness as traders are expecting further fall when European markets open.
Therefore, selling the greenback on recovery is the way to go.
Offers have been lowered to 113.90/00 n more above with some stops above 114.25.
Initial bids are noted at 113.50-45 with stops below 113.20, more stops are touted below 113.00.

No U.S. eco. data are due out today, suggesting technical trading will have a strong influence on intra-day price swings n near term technicals look a bit ugly for the buck.

 

[AceTRaderForex]

AceTraderFx Jan 24: Intra-Day Market Moving News and Views

Intra-Day Market Moving News and Views
24 Jan 2017 02:19GMT

USD/JPY - 112.83.. The greenback finally pared yesterday's steep fall and staged a recovery to 113.14 on buying by Japanese importers on bargain hunting.

Despite intra-day brief but strong bounce to 114.07 in New York morning following Trump's comments on his broad economic plans (but lacking in details), renewed broad-based usd selling emerged and knocked the buck to 112.75, price later ratcheted lower to session low of 112.70 at the close before hitting a 7-week trough of 112.53 after hitting light stops below last week's low of 112.57.
However, lack of follow-through selling triggered broad-based short covering n lifted price back up to 113.14.

Expect range trading to continue before dlr continues its recent losing streak, so trading from short side is favoured.
Offers are tipped at 113.10/20 and more above with stops above 114.10.
Bids are noted at 112.60-50 with stops below there.

Pay attention to release of a slew of U.S. eco. data later in the day starting with Redbook retail sales, Markit mfg PMI and existing home sales.

 

[AceTRaderForex]

AceTraderFx Jan 25: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
25 Jan 2017 04:04GMT

USD/JPY - ..... In total contrast to its intra-day biddish tone in yesterday's Asian morning, dlr pared Tuesday's impressive rally from a 7-week low of 112.53 to 113.89 in New York.

Despite extending o/n gain to 113.99 just ahead of Tokyo open, the pair quickly fell on broad-based yen buying esp. vs eur and aud, price retreated to 113.49. Some traders attributed to intra-day dlr's weakness on safe-haven buying of yen as U.S. President Trump begins his U.S. economic revival plan by what many see as moving the country to protectionism.

As price is currently trading near the day's low, suggesting consolidation with downside bias remains for further weakness.
Offers are tipped at 113.80/90 n more above with some stops touted above 114.10.
Some bids are noted at 113.50-40 with stops below there, more stops are reported below Tuesday's New York low at 112.91.

No major U.S. data are due out with MBA mortgage applications, monthly home price are the data during early New York morning, so technical trading will prevail for rest of the day.

 

[AceTRaderForex]

AceTraderFx Jan 26: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
26 Jan 2017 02:07GMT

USD/JPY - 113.38.. Despite initial weakness to 113.06 shortly after Tokyo open as short-term specs sold the pair in Australia following o/n weakness in New York afternoon, rally in the Nikkie (N225 currently at 19305, up by 1.3% after rise in the Dow, S&P 500 and NASDAQ to record highs on Wednesday) in early Tokyo morning trade boosted risk sentiment lifted the pair, suggesting choppy range trading is set to continue in Asia.

Having said that, anticipated usd's broad-based weakness suggests selling dlr on intra-day rebound is the way to go as Wed's several upside attempts to push price above 113.90 failed and ended with subsequent strong retreat.
Offers are tipped at 113.65/75 n more at 113.90/00 with stops reported above 114.10.
Initial bids are noted at 113.10-00 with stops below 112.90, however, more buying interest is reported above 112.50.

Later today, U.S. will release a slew of eco. data starting with initial weekly jobless claims, wholesale inventories, Markit services PMI, new home sales n then leading eco. index.

 

[AceTRaderForex]

AceTraderFx Jan 27: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
27 Jan 2017 04:38GMT

USD/JPY - .... The pair continued yesterday's impressive rally in active Tokyo trading due to broad-based selling in yen, traders attributed this move to a surprise increase in buying JGBs by the BoJ (see prev. MMN coverage for details).

Dlr briefly retreated to 114.09 in NY morning after weaker-than-expected U.S. weekly jobless claims, however, renewed usd broad-based weakness quickly lifted the pair n sent price to session highs of 114.85 before falling back to 114.26 in New York after afternoon on profit taking.
The pair rallied abv said New York low after BoJ's money market action and climbed to 115.04 after tripping stops above 114.85 n then 115.00.

As price has maintained a firm undertone ahead of Tokyo lunch break, suggesting intra-day upside bias remains for further gain. Bids are noted at 114.80-70 n more below with stops reported below 114.20.
Some offers are tipped at 115.00/10 n more above with stops above 115.65.

Pay attention to release of a slew of U.S. eco. data later in the day n in particular, the preliminary read of the key U.S. advance Q4 GDP, Dec durable goods orders, PCE Q4 n then University of Michigan consumer confidence.
Traders will pay close attention to the annual GDP growth which is expected to be 2.2% vs prev. reading of 3.5%, if actual comes in higher than street forecast, then usd will go higher, if it disappoints, then expect a broad-based usd decline.

 

[AceTRaderForex]

AceTraderFx Feb 01: Intra-Day Market Moving News and Views USD/JPY

Intra-Day Market Moving News and Views
01 Feb 2017 03:02GMT

USD/JPY - 113.02.. Dlr pares yesterday's intra-day selloff to a 7-week trough of 112.08 due to broad-based usd weakness triggered initially by euro-comments by U.S. Trump's trade adviser Peter Navarro which came around 11:30GMT which caused a jump in the eur/usd, this led to broad-based usd weakness, the pair fell to 113.17.
Then comments by Trump around 14:30GMT that China and Japan are devaluing their currencies sent the pair tumbling to session lows of 112.08 before rebounding on short covering, price climbed back to 113.33 and later retreated to 112.44 in New York afternoon.

Dlr's intra-day move back to 113.15 after Japanese senior officials expressed their displeasure over recent yen strength suggests range trading is in store and dlr bears may have to wait for European traders to come to sell the greenback (after Japanese officials go home).
Offers are tipped at 113.20/30 with some stops above 113.40, more selling interest is noted at 113.70/80 with stops above 114.00.
Bids are noted at 112.70-60 and more below with fairly large stops below 112.00.

Later today, U.S. will release ADP employment, Markit mfg PMI, ISD mfg PMI, construction spending. last but not the least, the Fed will deliver its monetary policy decision at 19:00GMT.
However, as no post-FOMC press conference is scheduled, market expects the Fed to stand pat on its rate decision, however, if you are still up, you can read the FOMC statements which may either be mildly hawkish or neutral but traders may well sell usd on rally ahead of Friday's U.S. jobs report.