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Will the European labor dynamic boost the EUR?
The European unemployment rate will be announced on Thursday at 12:00 MT time.
Instruments to trade: EUR/GBP, EUR/USD, EUR/JPY, EUR/CHF
As the businesses are reopening in the Eurozone, so are the labor statistics expected to bring positive changes to the picture. The unemployment rate was down to 6.4% in February and March, then it rose to 6.6% in April. The end of the second quarter is forecast to show a 7.2% of unemployed people in European countries. Hopefully, lifting the restrictions will improve the picture to ensure that indeed the economy in Europe had passed the bottom of this crisis as it was reported lately.
- If the European labor market improves, the EUR will rise.
- Otherwise, it will fall.
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