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EUR/USD Surges on Poor US Nonfarm Payrolls

September 6, 2013 by

EUR/USD surged today after US nonfarm payrolls came out significantly worse than was expected. Moreover, the previous reading received a huge negative revision. Such data decreased likelihood of quantitative easing tampering this month.

Nonfarm payrolls grew 169k in August, less than market participants have hoped for — 178k. The July’s growth was revised from 162k to 104k. The unemployment rate unexpectedly slipped by 0.1 percentage point to 7.3 percent. (Event A on the chart.)

EUR/USD for 2013-09-06

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