020 7898 0500The Eurozone unemployment rate for November came out as expected yesterday as it held steady at 12.1%, the same rate as in the previous month, although still an increase on the 11.8% seen in November 2012. German Factory Orders showed significant growth as did Eurozone retail figures, however this did not translate into any real appreciation of note for the single currency in a day that saw a strong performance from sterling and the US dollar. A week of mixed data so far has prevented the euro from seeing any decisive movements in key pairings, however this could change today as the European Central Bank (ECB) reveals its interest rate decision before holding the customary press conference. Weaker than expected German Consumer Price Index data released earlier in the week has increased the pressure on the ECB to make its policy clearer in terms of dealing with the relatively low rate of inflation within the eighteen-nation area. A decisive announcement by the Central Bank could provoke sharper movements in euro pairings today so call you trader now to see how this will/has affected you.
