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US Payrolls Show Slower Employment Growth, EUR/USD Down

November 4, 2011 by

EUR/USD was rallying today, but dropped as fear returned to the Forex market and trades shun the shared European currency. Greek Prime Minister George Papandreou may lose his post and that may postpone the bailout for Greece for undetermined time. The US payrolls showed that the employment growth slowed last month, but the unemployment rate managed to decrease a little.

Nonfarm payrolls increased by 80k jobs in October. September value was revised upwardly to 158k from 103k, but the revision made the decrease of the employment growth this month even more substantial. Forecasters hoped for an increase by 97k. The unemployment rate managed to went down and now stands at 9.0% in October, compared to 9.1% in the previous month. (Event A on the chart.)

EUR/USD for 2011-11-04

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