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German unemployment rises to 6.3%- EUR/USD unmoved so far on the data

Earlier this morning the EUR/USD was pushing to test that 1.0800 handle again, but it stalled and fallback to around 1.0775. That came as the EUR/JPY turned lower as the European stock markets opened in the red. The German unemployment report has just now been released and it was worse than expected. Unemployment claims were forecast to rise by 10k. They have actually risen by 26k. That has pushed the underlying rate of unemployment to 6.3%. It was forecast to remain at 6.2%. The reaction on the EUR/USD has so far been pretty non-existent though. That is a little surprising, as is the further rebound in the DAX following this release. The EUR/USD is right now at 1.0777

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