Thread: Markets await news on Greek debt deal

* Markets await news on Greek debt deal

* Focus shifts from upbeat US jobs data

* Euro, commodity currencies off highs

By Ian Chua

SYDNEY, Feb 6 (Reuters) - The euro and risk sentiment took a bit of a hit first thing in Asia on Monday with markets getting anxious as the deadline for Greece to clinch a second rescue package loomed large.

Greece's coalition parties must tell the European Union by Monday whether they accept the painful terms of a new bailout deal worth 130 billion euros in order to avoid a disorderly default.

The euro stood at $1.3110, down some 30 pips from late New York levels on Friday. It fell as far as $1.3080 in thin early trade. Immediate support is seen at $1.3078, the 55-day moving average, ahead of $1.3023 -- the Feb. 1 trough.

Against the yen, the single currency fetched 100.43 versus New York's 100.62. On the Australian and New Zealand currencies, it hovered just above record lows set on Friday.

Still, the euro's pullback is shallow by any measure. "The belief is that a deal will get over the line, more than likely at the last possible moment. That's why we're seeing some renewed buying from the lows," said David Scutt, a trader at Arab Bank in Sydney.

Worries about Greece somewhat overshadowed Friday's confidence-boosting U.S. jobs data, which showed the world's biggest economy created jobs at the fastest pace in nine months in January. That took the unemployment rate to a three-year low of 8.3 percent.

The U.S. employment report sent Treasury yields sharply higher and helped lift the dollar against the yen. It bought 76.57 yen, having rallied some 0.7 percent to 76.74 on Friday.

Against a basket of major currencies, the greenback popped back above 79.000 with the euro struggling a bit this morning. But it stayed near a two-month trough of 78.623 plumbed on Feb 1.

The Australian dollar trimmed some gains as well, having hit a six-month high of $1.0794 on Friday. It was last at $1.0750.

The immediate focus for the Aussie is retail sales due at 0030 GMT, ahead of Tuesday's interest rate decision by the Reserve Bank of Australia.

Analysts polled by Reuters expect retail sales to have increased by 0.2 percent in December and 0.6 percent in the fourth quarter. Most analysts also expect the RBA to cut rates by 25 basis points to 4.00 percent.

"Although the global economic outlook improved in past two months, Australian employment indicators, Australian commodity prices and inflation all declined in this period," Barclays Capital analysts said in a report.

"Consequently, we believe the RBA will cut 25bp at the February meeting, given that once again 'the inflation outlook afforded scope for a modest reduction in the cash rate'."

Traders said a rate cut is well priced in and should not derail the Aussie's uptrend against the U.S. dollar.

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