The AUD is the strongest and the USD is the weakest as the NA session begins

US initial jobless claims ahead

As the North American session gets underway, the AUD he is the strongest and the USD is the weakest. The major pairs are relatively scrunched together as traders await the initial jobless claims at the bottom of the hour and the more important BLS nonfarm payroll and employment numbers tomorrow at 8:30 AM ET. The initial jobless claims are expected to come in at 384K which is down from 400K last week. The BOE kept their rates unchanged as expected. The 7-1 below was better than the 6-2 expected (Saunders was the only dissenter). For a review of the key takeaways, see Justin's post HERE . Governor Andrew Bailey will conduct his press conference at the top of the hour. You can find it HERE .