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Greenback Slides on Headline NFP Miss, Drop in Participation Rate

DATA REACT
  • The USD trades softer following the miss on headline change in nonfarm payrolls, prompting a decent bounce in EUR/USD of around 45 pips. The unexpected tick lower in the labor force participation may also be adding some weight, which slipped to 61.6% vs. Exp 61.8%.
  • Net result for equities has been positive, helping the e-mini S&P add initially around 15 points before much of the move fades.
  • The 10y Treasury yield fell to 1.5942% in the knee-jerk reaction, before bouncing and stabilising at pre-data levels.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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