Today's tight range = US Employment numbers

The BLS (Bureau of Labor Statistics) is releasing the non-farm payroll report this morning. This is the initial read on March unemployment in the U.S. along with probable revisions to the last 2 month's reports. This news event is specifically why the market is in a tight range throughout the European session. Traders don't want to be on the wrong side of this report when is released at 8:30AM EST.
Last month it came in at -651k. The consensus, or expectation, for this month is -659k. If the report is close to that number on either side the response will be fairly muted. However, if it is very weak the dollar with get hammered. If it is a lot better than expected the dollar will probably rally. The way I setup positions to be relatively dollar neutral this could be a non-event either way for the portfolio. It still has to be watched because if one side or the other moves at a greater velocity it might create opportunities to close positions at higher then normal profit.