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
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
Bearish
Wall Street
Bearish
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
GBP/USD
Mixed
USD/JPY
Bearish
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
More View more
Real Time News
  • Update on #Cryptocurrencies #BITCOIN -0.91% #BITCOINCASH +1.48% #ETHEREUM -1.58% #RIPPLE -1.35% #LITECOIN -2.48%
  • $AUDUSD pushes further into multi-month highs this morning as risk appetite improves https://t.co/jCjpOT2kbP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.98%, while traders in US 500 are at opposite extremes with 73.36%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZZhiVDU0Ey
  • The #Euro Stoxx 50 has made a firm break away from its 50% fib retracement to trade at its highest level since early March. Get your equities market update from @JMcQueenFX here:https://t.co/TeIdfHjbUj https://t.co/IPSBuPQ3YF
  • New York Virus cases rise 0.4% compared to 7-day average of 0.3% - BBG
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.91% Gold: -0.86% Silver: -2.61% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/slar5zMmAp
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 1.19% 🇳🇿NZD: 0.91% 🇨🇦CAD: 0.47% 🇪🇺EUR: 0.35% 🇨🇭CHF: -0.08% 🇯🇵JPY: -0.94% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/212TNo9F85
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.45% France 40: 0.14% US 500: 0.11% Germany 30: 0.11% FTSE 100: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hJWuqYgXB7
  • Hey traders! Why is US indices a good benchmark? Find out from @DailyFX Chief Strategist, @JohnKicklighter 👇 as he covers the US market highlights today! https://t.co/cRetV7qC8m
  • US Treasury Yields: 2-Year: 0.158% 3-Year: 0.199% 5-Year: 0.308% 7-Year: 0.507% 10-Year: 0.669% 30-Year: 1.470% $TNX
German Unemployment Continues to Rise from a 2-Decade Low

German Unemployment Continues to Rise from a 2-Decade Low

2012-07-31 08:27:00
Benjamin Spier, Technical Strategist
Share:

THE TAKEAWAY: German unemployment rises 7,000, rate remains at 6.8%-> German Labor Agency says they see signs of a weakening market-> Euro trading lower

More Germans found themselves without work for the fourth month, as unemployment was up 7,000 in July. However, the unemployment rate was still 6.8% for the eighth straight month, which is the lowest unemployment rate in at least twenty years. There are now a total 2.89 million Germans without jobs according to the Federal Labor Agency, and all the unemployment numbers came in line with expectations.

The German Labor Agency said they see signs of a weakening labor market following today’s release. The rising unemployment plus the declining retail sales, which was released earlier, attest to the German economy’s struggle with the Euro-zone debt crisis. Following ECB President Draghi’s pro-Euro comments last week, investors are still waiting for further confirmation of a possible Italian and Spanish bond purchase program that would have the ECB and EFSF buy the countries’ debt in primary and secondary markets.

EURUSD fell into a decline for today’s session following the higher unemployment. The pair is currently trading below 1.2260 and further volatility could be expected after the Euro-zone unemployment rate, which is set be released in the upcoming hour. Support could be provided by 1.2234, the 50% expansion from May’s high to June’s low.

German_Unemployment_Continues_to_Rise_from_a_2-Decade_Low_body_eurusd_daily_chart.png, German Unemployment Continues to Rise from a 2-Decade Low

“Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.”

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

DISCLOSURES

News & Analysis at your fingertips.