We had the usual whippy 50 pip volatility directly after the NFP on Friday but the fact that the market was unable to hold onto USD gains is a pretty bearish sign in my view. That said, perhaps it’s apathy which is the main driving force with no market seemingly able to hold on to any momentum.
We’ve had a quiet start in Asia with the market sticking close to Friday’s closing levels.
There is plenty of minor Australian economic data on the calendar with HSBC Chinese manufacturing PMI the obvious highlight.