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Dollar spikes lower initially, but back higher after US jobs
Market digest the numbers The US jobs report on the initial numbers was weaker with the NFP weaker along with a downward revision to the prior month. However, the unemployment rate fell to 4.9% and the average hourly earnings came in stronger +0.5% (estimate 0.3% month on month). With earnings higher and unemployment rate lower, it keeps the Fed in the ball game. S&P futures are down 6 points. The EURUSD took the initial clue from the nonfarm payroll jobs and moved higher. The pair is now trading at new session lows. The USDJPY so a similar reaction, with new lows (116.25), but has reversed and just traded new ... (full story)