Spanish and German unemployment down in December

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Tuesday, Jan 05 2016

The number of unemployed in Spain registered at the offices of the Public Employment Services in December decreased by 55,790 persons, above expectations on decrease by 52,600. Thus, unemployment has four consecutive years of decline in this month. In the past 12 months, registered unemployment has decreased by 354,203 people, the biggest decline in a year of historical series.

The annual rate of decline grew more than two and a half points throughout the year, showing a decrease of registered unemployed at a rate of 8% (7.96%). This year's rate of reduction is not reached in December since 1999. Separate report on German Unemployment showed decline by 14,000, also beating forecasts on decrease by 7,000.

Euro is currently being traded around 1.0790 area. Pair is likely to find support around 1.0750 handle and resistance above 1.0850 level. Later today, Eurozone CPI figures are scheduled for a release.

More in this category: « Aussie rebounding in an overnight trade UK Construction PMI rose more than expected »

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