Skip to Content
News & Analysis at your fingertips.

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. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
Euro Rises After Positive German Unemployment Data

Euro Rises After Positive German Unemployment Data

Oded Shimoni, Junior Currency Analyst

Talking Points:

- The Euro rose 0.25% versus the US Dollar

- German Joblessness decreased by a seasonally adjusted 5k

- Unemployment rate unchanged at 6.4%

The Euro rose 0.25 percent versus the US Dollar after today’s German unemployment data showed joblessness declined by a seasonally adjusted 5,000 individuals, subsequently lowering the number of people unemployed, which now stands at 2.788 million. The number was above economist’s expectations for an increase of 4,000 individuals to the labor force. The unemployment rate remained unchanged at 6.4 percent, as expected.

The data might suggest that the German labor market remains healthy, despite the slowdown in China and emerging markets, which usually hurts German exports. The positive data comes a week after Mario Draghi’s dovish ECB press conference, in which he signaled that the ECB may extend or expand QE and might even cut the Eurozone’s deposit rate on deteriorating economic outlook. The data today initiated a break above the day’s prior high at around 1.09455, with major event risks still looming later today.

DailyFX Currency Strategist Ilya Spivak said today that an upside surprise in the US GDP figures might add to US Dollar gains, while below consensus German CPI data may initiate new selling pressure on the Euro.

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