Eurozone employment data

• German unemployment change  (Jan), fact -2K, forecast -11K.
• German unemployment rate (January), fact 5.0%, forecast 5.0%.
• Unemployment rate (December) in the eurozone, fact  7.9%,  forecast  7.9%.

General unemployment rates in the eurozone and in Germany in particular remained at the same level. It is worth noting that the rate of decline in German unemployment  slowed down significantly, reaching a minimum of the year, which in conditions of a slowdown in employment growth would indicate a slowdown in general dynamics of job growth.

Fig. 1. German unemployment change chart 

On relatively weak employment data, the euro accelerated the decline against the US dollar, which was further strengthened by the correction after growth. Significant support for the EUR/USD pair is located at the levels: 1.1470 and 1.1450.

Fig. 2.  EUR/USD chart. Current price – 1.1480

Read also: “Averaging Strategy in the Forex Market”

Hanzenko Anton

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