FTSE +3 points at 7143
DAX +9 points at 11636
CAC +7 points at 4801
European markets look set for a flat to slightly positive open as traders sit on their hands in the lead up to the US unemployment report. Overnight the Caixin Manufacturing PMI for China slightly missed expectations.
At the end of a week that has seen three major central banks keep policy unchanged, baring a sharp reversal today, the US dollar seems to have been the loser in this scenario, eyeing its 4th straight week of losses.
If anything can reverse the fortunes of the buck it will be today's NFP. A strong number may spur Fed speakers to start talking up the chance of another rate hike at the next FOMC meeting in March. A weaker number would add weight to the case that the US economy has slowed since the 4th quarter, where GDP missed estimates.
Expectations are for 175k jobs created in January, up from the 156k previously. Average hourly earnings are expected to gain by 0.2% from 0.4% in December.