Another strong figure from Germany: the number of unemployed dropped by 20K, double the expectations. The unemployment rate remains at a low 6.5%. This is good news for Angela Merkel. Alos thee all European data is better than expected: M3 Money Supply accelerated to 4.1%, and private loans have squeezed by only 0.1%. The figures are y/y.
EUR/USD is still in range. Yellen came and went, and so did Draghi. They tried not to rock the boat. This batch of better than expected numbers from the old continent does not seem to help the euro.
The pair is trading around 1.1350.
German unemployment change was expected to drop by 10K. Euro-zone M3 Money Supply was predicted to accelerate to 3.7% and private loans to squeeze at a lower rate of 0.3%.
What’s next for the common currency? 3 reasons why EUR/USD cannot really recover
Earlier, the GfKÂ Consumer Climate rose to 9.7 points, slightly above 9.6 predicted.
