The US dollar is a touch higher across the board ahead of non-farm payrolls in what’s been uninspired European and Asian trading. It’s a holiday in much of the world today so that means skeleton staffs on FX desks. The bond market is closed but US bond and equity futures are trading until 9:15 am ET.

Overall, it will be a strange one but if there’s a particularly strong or weak report, I don’t think it’s a gamechanger. The larger risks are to the downside after some softer jobs data this week. Lower non-farm payrolls would get the market thinking that a hard landing is coming and that the Fed can head to the sidelines.

The next big release is March CPI on April 12.

This article was written by Adam Button at www.forexlive.com.