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EUR/USD Jumps Following NFP Release, Retreats Immediately

December 2, 2016 by

US nonfarm payrolls released today were very mixed, resulting in volatile trading on the Forex market. EUR/USD jumped after the release but backed off immediately to trade below the opening level as of now.

Nonfarm payrolls rose 178k in November, in line with expectations. But the October gain was revised negatively from 161k to 142k. Unemployment rate fell from 4.9% to 4.6% unexpectedly. Average hourly earnings fell by 0.1% instead of rising by 0.2% as analysts had predicted. The earnings were up 0.4% the month before. (Event A on the chart.)

EUR/USD as of 2016-12-02

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