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NFP growth above the forecast

Despite all the market fears, US non-farm employment grew by 175K vs. forecasted 167K. Meanwhile, the April reading was revised down from 165K to 149K. The unemployment rate increased from 7.5% to 7.6%.

US dollar strengthened versus its major peers following the release. EUR/USD tested the $1.3200 support, but then recovered to $1.3220. NFP data is one of the key figures for the Fed to decide on when to start tapering the QE program.

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