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US Jobs report set to deliver a surprise later today?

According to some reports the US BLS (Bureau of labour statistics) has been overstating US payrolls by as much as 60k per month. Now that research cannot be confirmed here in any kind of way, but if it is half true, the jobs picture in the US may not be as rosy as the headline reports would have us believe. So, later today we might get some insights on that when the US jobs reports hit the screens. The markets expect US non-farm payrolls to have increased by around 180k. The previous monthly increase was 175k. The unemployment rate is forecast to remain unchanged at 3.9%. There is no clue here on what exactly to expect today, but any surprises will be met with a corresponding market reaction, in either direction. Any surprise will impact the dollar for sure, as indeed it will the US stock markets. Right now the dollar is not making any progress at all. So, is the EUR/USD finally poised to break decisively out of its approximate 1.08-1.09 range? Well, if it is it will not be before time. 
 

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