unemployment data beat expectations. Although nonfarm payrolls fell by 36,000, compared with a revised decline of 26,000 in January, some economists had anticipated that payrolls would decrease by 75,000 mainly because of severe weather that occurred on the East Coast when the surveys were conducted. The unemployment rate remained unchanged at 9.7%, while economists predicted it would increase slightly to 9.8%.
The dollar gained versus the euro after the payroll report; the dollar index increased to 80.704 and also climbed 1.2% versus the yen.
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Friday, March 5, 2010
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