We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Bitcoin
Bearish
More View more
European Confidence Slips As German Labor Market Continues To Shed Jobs

European Confidence Slips As German Labor Market Continues To Shed Jobs

2010-02-25 13:14:00
John Rivera, Currency Analyst
Share:

FX Headlines

Fundamental Headlines


Euro's Next Battleground: Spain – Wall Street Journal
• Greece to Issue Bond Next Week – Wall Street Journal
• Euro tumbles amid flight to havens testifies - Financial Times
• Greece Risks Debt-Rating Downgrade Within Month on Struggle to Trim Budget – Bloomberg
• Euro Weakens, Greek Bonds Decline on Downgrade Concern; U.S. Futures Drop- Bloomberg


EUR/USD – The German unemployment rate rose to 8.2% from a revised 8.1% in February as the economy lost another 7,000 jobs. Despite the continued jobless rate results were positive as economist were expecting an increase of 16,000 in the unemployed and prior to the revision the unemployment rate was reported at 8.2% for the month prior. Weak labor markets and rising budget deficits led to a an unexpected decline in European economic confidence to 95.9 from a revised 96. Consumers remain pessimistic with their sentiment reading declining from -16 to -17. The broader issues of the region have dim the outlook for future growth and have raised concerns over a double dip recession following last month’s disappointing 1.0% rise in GDP. To discuss this and other topics, please visit the EUR/USD forum.

GBP/USD – The Confederation of British Industry’s (CBI) monthly survey of retailers jumped to +23 from -8 as more participants expect sales to improve. Expectations were for -1 as a weak labor market and rising prices was anticipated to curb spending. The strong results signal that consumers have become more optimistic over future growth which could lead to a surge on domestic growth. The U.K. is already seeing consistent demand from abroad and the combination could help ease the BoE’s concerns over existing downside risks. Therefore, the central bank may need to begin tightening sooner than expected considering that inflation is well above their 2.0% target at 2.9%.To discuss this and other topics, please visit the GBP/USD forum.
 

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.