Dollar spikes lower after Non-Farm Payrolls shocked the market by showing -85k contraction in December. Nevertheless, November's data was revised up to 4k, which was the first expansion since Jan 2008. Unemployment rate was unchanged at 10.0%. The Japanese yen is mildly higher on risk aversion. Also released in US session, Canadian job market unexpectedly contacted by -2.6k in December but unemployment rate was unchanged at 8.5%.

Elsewhere, Eurozone was under pressure after release of worse than expected job data which saw unemployment rate rose from upwardly revised 9.9% to 10.0% in November. Eurozone Q3 GDP was finalized at 0.4% qoq, -4.0% yoy. Sterling, on the other hand, was limited by stronger than expected PPI report which saw input price rose 0.1% mom, 6.9% yoy while output prices rose 0.5% mom, 3.5% yoy in December. Swissy unemployment rate rose to 4.2% in December as expected.

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