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Koefoed on US jobs: It's all going to plan

The unemployment rate in the States has dropped to 5.8%, according to the nonfarm payroll data. 214,000 new jobs were created in October. However, we were expecting a slightly higher figure.

Saxo Bank's Head of Macro Strategy, Mads Koefoed says it shows the US recovery is on track even though these are hardly spectacular figures. He suggests the Fed was right to end QE when it did and we can expect an interest rate rise in the first part of 2015. The dollar was little changed on the news.

02:16 minutes
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