Trade Desk Thoughts - German Unemployment Change

German Unemployment Change Actual -29K, Expected -15K, Previous -40K

Release Explanation: Measures the number of jobs created, or the percentage of employed/unemployed in the labor market. Over time the Employment Data will affect all economic releases, it does however take time for labor trends to form.

Trade Desk Thoughts: The unemployment rate in Germany declined by 29K, seasonally adjusted, larger than market expectations. The previously released number, for the month of August, was left unrevised at 40K. The release shows the German labor market remains dynamic, although signs of fatigue are starting to appear.

Forex Technical Reaction: The euro had no response for the release. So far, the euro has fallen 60 pips and is testing the 20-day moving average

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