NFP comments
The widely anticipated jobs number was much worse than expected at -85K and the knee-jerk reaction has been to sell USD.
EURUSD up about 100 pips.
The unemployment rate held steady at 10% only because the participation rate declined 3/10ths (a very large statistic) as more discouraged job seekers went unmeasured in the labor force.
The details were mixed but show a slowing rate of improvement after November's surge.
So, although the labor market may be turning this month saw clearly a give back on expectations about the rate of improvement.
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