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Feb 07, 2025
US Non-Farm Payrolls Report
The US Non-Farm Payrolls report was released today at 2:30 PM GMT, and is one of the most important economic releases this week. Expectations were for a slowdown in employment growth, with the unemployment rate and wage growth flat. It is worth noting that the ADP employment report released earlier came in above expectations.
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Although the data showed a slowdown in job growth, which could indicate some weakness in the US economy, the rise in wages and the improvement in the unemployment rate reflect continued strength in the labor market. These differences led to the reversal of early declines in the EUR/USD pair, as markets reassessed the data’s impact on the Federal Reserve’s monetary policy decisions.