A mixed US labour report and a softish ISM Non-Manufacturing print had minimal impact on the US Dollar and US Treasury yields while global equities have continued on their merry way higher amid a supportive global economic backdrop. Strong Canadian Jobs were the big data surprise on Friday propelling the Lonnie to the top of the G10 leader board (+0.60%) and the Euro is essentially unchanged after commodities had a mixed end to the week. The December US Non-Farm Payrolls number came in at 148k vs 190k exp., but after the solid ADP report on Thursday (250k) many were looking for a print above the 200k mark. Average hourly earnings printed in line with expectations at 0.3%mom taking the year on year number to 2.5% (November was revised lower to 2.4% from 2.5%) and the Unemployment rate held steady at 4.1%, a 17 year low.
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