German jobless rate suddenly sags, marking fresh record minimum

German jobless rate suddenly sags, marking fresh record minimum

In September, Germany's unemployment rate suddenly sank even further, driving optimism over the health of the euro zone's key economy, as official data revealed on Friday.

Federal Statistics Office reported that in September, its jobless rate went down to a seasonally adjusted outcome of 5.6%.

It happened to be a record minimum and it also beat consensus who had hoped unemployment would be still intact at 5.7%.

Besides this, the overall number of unemployed folks tumbled by a seasonally adjusted 23,000 from the previous month versus forecasts for a sag of about 5,000. Last month jobless claims dived by 6,000 and it was updated up from an initial sag of 5,000.

Immediately reacting to the report, the currency pair EUR/USD hit 1.1794 versus 1.1804 ahead of the publication, while EUR/GBP reached 0.8798 versus 0.8805 demonstrated earlier.

Meanwhile, EU stock markets traded generally higher in early trade. The Euro Stoxx 50 rallied 0.14%, Germany's DAX soared 0.20%, France’s CAC 40 dived 0.06%, and London’s FTSE 100 added 0.41%.

 

 

Similar

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera