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German payrolls not as low as expected- EUR/USD unimpressed
That German unemployment data has now been released. The underlying rate remained at 6.1% in November. However, unemployment claims actually came in a little better, at just 7k, down from the prior reading of 27k. The markets were expecting a number around 20k. Now prior to this, earlier this morning, the slide in the USD/JPY helped the EUR/USD to press close to the 1.06 handle again, but it stalled short of reclaiming that level. The high seen was set at 1.0597. It subsequently fell back towards 1.0560. It was trading at 1.0573 leading into the unemployment report. It has not reacted positively to that better than forecast payroll data yet though. You can make of that what you will. The EUR/USD is currently trading at 1.0571
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