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EUR: German jobless rate at a record low

By Kiran Najran January 4th, 2018

While the euro retraced some of its losses against sterling yesterday, it weakened against the dollar in what was practically the mirror image of the day before.

Jobless figures released from Germany were expected to be positive, but they came in even better than expected. In December 2017, the amount of people unemployed in Germany fell by some 29,000 when a drop of 13,000 had been expected. The figure means that the unemployment rate is now at 5.5%, which is the lowest level since the reunification of Germany in 1990.

Today we will see the composite and services PMI figures from Germany and the eurozone as a whole. This will give us the final indication of how the respective economies have been performing of late and positive readings could lead to some euro strengthening.