FX Closing Comments

Although some negative U.S. data was released early in the session, the Dollar was largely unmoved. With the key non-farm payroll figure due tomorrow morning, most traders are wanting to see the big number before placing large orders. Expectations are calling for 225,000 new jobs. A big move higher could counter some of the recent soft news. A substantially soft number could add to recent bad news (record trade deficit and a high weekly jobless claims report) and put pressure on the greenback. The February Treasury deficit number is also due. It could be a volatile day tomorrow...