Data on employment in Germany in May - Ester Holdings

Data on employment in Germany in May

  • Change in the number of unemployed in Germany is -11K, the forecast is -10K.
  • The unemployment rate in Germany is 5.2%, the forecast is 5.3%.

The report on employment in Germany was very positive, indicating a significant increase in the workforce and lowering the unemployment rate in Germany from 0.1 percent. Also data on employment in Germany markedly improved the overall climate for the euro area. Especially after Spain showed very optimistic data on consumer prices (CPI) of 2.0%, thereby shifting the market’s attention from political instability to economic growth.

As a result, the market received a driver for correction on risk reduction and general recovery of optimism. Thus, European stock markets reduced losses at the beginning of the day and demonstrate a slight increase. Against the backdrop of optimism, support was also given to oil along with risky assets, which were actively sold earlier.

But it should be noted that this movement is more corrective and is still limited to political risks in the euro area. Technically, the growth of risk assets is regarded as the unloading of oversold indicators and entry for sale at a more favorable price.

Fig. EUR/USD. Current price – 1.1600

Also, read: “Positive locking order as an alternative to stop”

Hanzenko Anton

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