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.