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DAX not exactly impressed by German unemployment report
The December German unemployment report has just been released. As noted a little earlier this morning, the markets were expecting a rise in unemployment claims of around 15k. The actual number just released is 10k. The unemployment rate has remained at 6.1%, where a slight rise to 6.2% was forecast. The immediate reaction in the EUR/USD has seen it nudge a pip or two higher, but hardly a positive reaction to the numbers. The DAX, which had been falling back towards 19,900 ahead of this report has not exactly bounded higher either. In fact, right now it looks singularly unimpressed to be honest, as it slips towards fresh session lows approaching 19,900
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