Unemployment in Germany held at 6.8% in January. The number represents a twenty year low in unemployment. The number of unemployed people remained at 2.87 million; economists had forecasted a drop of 5,000 unemployed.
The latest numbers could be considered a sign that Europe’s largest economy is recovering some strength after sinking in 2011’s third quarter. The Euro was unchanged by today’s German data, but the latest daily close above 1.3325 ends a recent bout of multi-session consolidation and could open the door to the next upside extension towards 1.3700 over the coming days.