Bell Potter

Bell FX: Tonight's US non-farm payrolls report will be scrutinised by financial markets for its implications for the US Federal Reserve's asset purchasing program. The market expects payrolls to have increased by 185k. The EUR strengthened against the USD after comments from ECB President Mario Draghi following the Bank's decision to leave policy rates unchanged were interpreted as generally less dovish. The AUD received a modest boost overnight from USD weakness to be trading at about USD 0.9065 this morning. Also in Australia, negotiations for a free trade agreement with South Korea were completed yesterday. Prime Minister Tony Abbott said that although the agreement was yet to be approved by cabinet the removal of tariffs on Australia's major exports to South Korea would significantly benefit Australian exporters, particularly of beef and wheat. Today's Forecast Range USD: 0.9010 - 0.9110


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