Trade Desk Thoughts - German Unemployment Change

German Unemployment Change Actual -40K, Expected -10k, Previous -20K

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 number of unemployed persons looking for a job in Germany for the month of August came in at-40K, stronger than analysts had expected. The unemployment number in Germany has been in a strong downtrend since 2005 and it seems the economic slowdown that the German economy faces still hasn't affected the labor forces.

Forex Technical Reaction: Since the release, the euro has strengthened slightly managing to break above the previous day's high. Since the new trading day began the pair has gained approximately 50 pips.

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