Saxo Bank’s head of FX strategy John Hardy digests the latest US jobs report, which sprang a surprise with its average hourly earnings, and looks ahead to next week's calendar.

The year on year data point printed at a strong +2.9% vs. +2.7% expected and up +0.3% month-on-month vs. +0.2% expected. The 2.9% level matches the high of the cycle last year. 

Read more forex analysis by Hardy here.