Number of unemployed in Germany fell by 15,000

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Tuesday, Mar 31 2015

Number of unemployed in Germany fell by 15,000, thus beating market predictions on decline by 10,000. This was the sixth consecutive month of decrease. Furthermore,German unemployment fell to an all-time low in March, fuelling optimism over the strength of the euro zone's largest economy, official data showed on Tuesday.

In a report, Germany's Federal Statistics Office said that Germany’s unemployment rate declined to 6.4% in March from 6.5% in February. Analysts had expected the jobless rate to hold steady at 6.5% this month.

Despite the figures, euro declined further and is currently being traded around 1.0750 area. Pair is likely to find support around 1.07 handle and resistance above 1.0850 level. Later today, Eurozone CPI and Unemployment Rate figures are scheduled for a release.

More in this category: « French Consumer Spending rose by 0.1% U.K. GDP grew by 0.6% in Q4 »

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