US jobs report in focus
• Holding pattern. Modest moves in most markets overnight. JPY’s upswing extends. AUD range bound just above its 1-month average.• UK rates. BoE cut interest rates by 25bps. 2 members voted for a larger move. More easing expected over time. AUD/GBP supported overnight.• US jobs. US employment report in focus tonight. Signs the US labour market is cooling could revive US Fed rate cut bets & drag on the USD. Global Trends A relative sense of calm in most markets overnight with only a few macro announcements, no fresh news regarding US trade tariffs, and the US jobs report due...