ForexLive North American wrap: payrolls pain
April non-farm payrolls 115K vs 160K exp
Revisions add 53K over past two months
Unemployment rate falls to 8.1% as participation rate drops
Canada Ivey PMI 52.7 vs 61.0 exp
Rumor Spanish banks asking for another LTRO
Final poll: Sarko 48%, Hollande 52%
Fed's Williams expects 2.5% growth in 2012
Venizelos: elections to decide if Greece stays in euro
Citi expects BOE to do ₤25-50 billion in QE next week
S&P downgrades Spanish regions
WTI crude falls $4 to $98.53 -- a 10-week low
S&P 500 down 1.6% to 1369, down 2.4% on week
The market didn't know what to do with the non-farm payrolls report at first but the eventual takeaway was decidedly negative. EUR/USD climbed to 1.3179 but offers at 1.3180 kicked in and beat the euro down to 1.3080.
USD/JPY whipsawed ahead of the NFP data, raising the ire of those suspecting the number was leaked moments early. The pair bounced to 80.39 but steadily declined to 79.83 afterwards.
Cable was choppy before healing lower as flows in EUR/GBP and stop-hunting sent the pair above 1.62 before a retreat to 1.6142.
USD/CAD legged higher on the employment report to 0.9920 and then to 0.9960 after the Ivey PMI and as stock sank.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.