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DAX edges lower after German unemployment slightly better than forecast
The details of the German March jobs report have just hit the screens. The underlying rate of unemployment was forecast to remain unchanged at 5.9% and the latest payroll data was expected to show a seasonally adjusted rise of 10k in the number of claims. Well, it has slightly beaten on that outlook, with a 4k rise. The underlying rate has remained unchanged at 5.9%. German bunds have fallen on this news and that has pushed the DAX a little lower, but we are not talking about a significant move there at this stage. The EUR/USD is entirely unfazed by this data and in truth that is not a surprise.
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