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German unemployment in the spotlight shortly- Will the EUR/USD get some good news?
A little later this morning, at 8.55am GMT Germany will release its December unemployment report. The markets are expecting a rise in unemployment claims last month, of 15k compared to 7k rise in November. The unemployment rate is forecast to also rise, from 6.1% to 6.2%. In advance of this the DAX is a little lower just now, but above the earlier session lows. Of course the index has only just started live trade and so any moves thus far are far from conclusive anyway. We can probably say the same for the EUR/USD too. Right now that is still camped underneath the 1.03 handle and it could do with some positive news from this German unemployment data. As to whether that shows up this morning is far from certain though. The risk is that it does not. The EUR/USD is currently trading at 1.0284
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