Asian session: The euro headed for the biggest weekly drop against the yen

00:00 Australia Bank holiday

00:00 New Zealand Bank holiday

05:00 Japan Leading Economic Index February 94.4 95.6 96.6

05:00 Japan Coincident Index February 92.7 93.6 93.7

The euro headed for the biggest weekly drop against the yen in seven months as Spain’s rising borrowing costs fueled concern that the region is failing to contain its debt crisis. The 17-nation currency traded 0.3 percent from a three-week low versus the dollar before data next week that may show German exports fell and growth in French industrial production slowed, adding to evidence that the fiscal woes are hampering the region’s economies. German exports probably decreased 1.2 percent in February from January, when they rose 2.4 percent, according to the median estimate of economists surveyed by Bloomberg News before the report due on April 10. In France, output increased 0.2 percent in February, after gaining 0.3 percent the prior month, another poll showed before the nation’s statistics office releases data the same day.

Demand for the greenback was supported as data indicating a recovery in the U.S. labor market damped speculation the Federal Reserve will add new stimulus. U.S. nonfarm payrolls probably rose by 205,000 in March after climbing by 227,000 in February, economists in a Bloomberg survey forecast ahead of today’s data. A separate report may show the jobless rate held at a three-year low of 8.3 percent. That would follow data from ADP Employer Services this week that showed U.S. companies added 209,000 workers in March after hiring 230,000 in February.

The yen gained against its peers as Asian stocks fell for a third day.

EUR/USD: during the Asian session the pair traded in a range $1.3050-$1.3075.

GBP/USD: during the Asian session the pair restored, after yesterday's falling.

USD/JPY: during the Asian session the pair traded in range Y82.15-Y82.35.

With much of Europe closed for the Good Friday holiday, attention is firmly on the US and the jobs data at 0830GMT Friday. Nonfarm payrolls are forecast to rise 200,000 in March, continuing a trend of strong payrolls gains. Private payrolls are expected to rise 210,000, as government payrolls are expected to decline again due to the state and local sector. The unemployment rate is forecast to hold steady

at 8.3%. Hourly earnings are expected to rise 0.2%, while the average workweek is forecast stay at 34.5 hours.