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German unemployment change -1K – worse than expected

A smaller drop than expected in German unemployment: a drop of only 1K jobless in May.  This was joined by a minor revision for April: a drop of 5K. This is the 9th  consecutive month of drops in unemployment, but this is a shallower slide than predicted.

EUR/USD is ticking a bit lower to 1.1165 – a minimal change.

The total unemployment, not seasonally adjusted, stands at 2.711.

Germany was expected to report yet another drop in the number of the unemployed: 5K in May after -6K in April. The unemployment rate was expected to remain unchanged at 6.4%.

EUR/USD traded around 1.1170 towards the publication, moving on Greek news, yet  not in a  straightforward manner.

The low German unemployment is naturally positive for Angela Merkel. She is popular and confident and this has an indirect impact on the Greek crisis.  Report: Greece reconsidering Juncker proposal – Watch the debt relief clause

Greek crisis – all the updates in one place

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.