The EUR/USD continued the bearish trend on the neutral German job market data. The Euro depreciated against the US Dollar by 7 base points or 0.06% to move close to the edge of 1.2000.
German jobless rate reached a record low, as total unemployment fell more than anticipated in December, reinforcing the economy’s broad-based upswing that boded well for strong growth in the future. Germany’s unemployment rate matched the prior month’s revised reading of 5.5% in December, while the yearly rate declined from 6.1% to 5.7%. The Europe’s largest economy continued to benefit from a jobs bonanza, escorted by higher real wages and very low borrowing costs, while exporters face stronger demand from the US and China.
