Price action and directional moves on currencies is decidedly mixed on Friday in Asia. The AUD, bolstered by risk appetite in late NY, remained bid after the RBA signaled an end to aggressive easing in its latest quarterly report and was attempting another push above 0.6550 in Asia. However, USD-JPY, after the surge above 92.00 following the 90.00 option expiration, held a very tight range around 91.00 as the market waits on the U.S. jobs numbers. Some traders are already look to the U.S. banking measures and stimulus package next week as more important than the jobs data, which are expected to be poor. Despite the bounce in EUR on Thursday toward 1.2900, EUR remained pressured in Asia on expectations of a March rate cut and the latest weak economic data from the euro zone. The market failed to take out 1.2760 stops and option defense of 1.2700 is still expected. Cable consolidated above 1.4600 after Thursday's rally, while USD-CAD edged higher above 1.2350 after Canada Fin Min Flaherty's warning of bad jobs data. Asian stocks were broadly higher with shipping stocks in the region bolstered by continued gains in the Baltic Dry Index, and the Nikkei aided by the weaker JPY. U.S. bonds remained steady awaiting the jobs data. Nymex crude eased under $41 on continued global demand concerns after the sharp rise in U.S. jobless claims on Thursday.
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