Trade Desk Thoughts - European Unemployment Rate

European Unemployment Rate Actual 7.3% Expected 7.3% Previous 7.3%

Release Explanation: The number of jobs created, or the percentage of employed/unemployed in the labor market. Very important that economic forecasts are based on the labor market. Economic strength builds from the willingness/confidence of firms to hire, without a strong labor market growth is hard to achieve.

Trade Desk Thoughts: The unemployment rate remained unchanged at 7.3% in July, in line with economists’ expectations. The employment level in Europe remains steady even though the economy is starting to slow and confidence continues to falter.

Forex Technical Reaction: The euro had very little reaction to the release and the pair continues to trade virtually unchanged from the Asian open.

Written by TheLFB Trade Team, © 2007-2008 LFB Services, LLC. All rights reserved. http://www.TheLFB-Forex.com

TheLFB Risk Disclaimer can be found at http://www.thelfb-forex.com/content.aspx?id=174.

The Copying, Broadcast, Republication or Redistribution of TheLFB Content is Expressly Prohibited Without the Prior Written Consent of LFB Services, LLC.