Markets were unusually choppy overnight, with the U.S. dollar initially falling against European currencies before recovering heading into the U.S. lunch session…and following the exact opposite path against the commodity dollars.

The August Non-Farm Payroll report will be released tomorrow at 8:30 ET (12:30 GMT, 1:30pm BST), with expectations centered on a headline print of 217,000 after last month’

U.S. private employers added fewer-than-expected workers in August, but the labor market momentum likely remains strong enough for the Federal Reserve to consider an interest rate hike this year.
While this week’s U.S. data doesn’t have a massive direct influence on GBP/JPY, the pair is still a good barometer of risk sentiment in the market and should react to changes in traders’ risk appetite. GBP/JPY has clearly taken a turn for the worse over the last few weeks.
U.S. stock futures pared some gains on Wednesday, but kept Wall Street on track to open higher, after weaker-than-expected private U.S. jobs data, raising the odds that the Federal Reserve would not raise interest rates this month.
Last week, we speculated that USD/CAD could serve as a possible bull haven amidst the ongoing market turmoil.
The Bank of England came off as slightly more dovish than many market participants had expected in its highly-anticipated “Super Thursday” of top-tier data releases.
Eurodollar and Treasury futures are slightly higher in early trade on Thursday, August 6 with the Eurodollar futures yield curve basically shifted 1-2 bp lower and the Treasury curve too with movement of a similar magnitude.