Off the back of weaker than expected jobs data out of the US last week, Saxo Bank’s traders say that tapering expectations have dropped significantly. In fact, they are down from 20- 25 billion to 10 billion on average. 

The impact on EUR and GBP was not too significant, but today there has been good interest to buy EURUSD 

Meanwhile, the weak NFP figures have given support to the Aussie Dollar, which is now back to the August highs. Volatility in the AUD has dropped and the main level they are keeping an eye out for is 92.30

Finally, the traders say that the main event markets are preparing themselves for is the FOMC meeting on 17-18 September.