Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

The seasonally adjusted jobless rate in Germany was reported at 5.9% for a sixth straight month in May, in line with market expectations.

This has been the highest jobless rate in the EU’s largest economy in three years.

The number of unemployed persons in the country rose by 25,000 to 2.762 million in May. This has marked the 17th consecutive month of rising unemployment.

The figure also exceeded a consensus of analyst estimates of a 10,000 rise.

The Euro was 0.36% weaker on the day against the US Dollar, with the EUR/USD currency pair last trading at 1.0865 ahead of US job openings data for April, due out later on Tuesday.

The major Forex pair has eased from a fresh 11-week high of 1.0916, which it registered earlier in the session.

A slowdown in US manufacturing activity and a surprise drop in construction spending added to the case for earlier interest rate cuts by the Federal Reserve. This led to an over 0.5% retreat in the Dollar against the Euro on Monday.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: USD/MXN daily forecastForex Market: USD/MXN daily forecast During yesterday’s trading session USD/MXN traded within the range of 12.8537-12.8879 and closed at 12.8771.At 11:11 GMT today USD/MXN was losing 0.01% for the day to trade at 12.8692. The pair touched a daily low at 12.8548 at 10:35 GMT, […]
  • Gold trading outlook: futures trade little changed, US employment data string eyedGold trading outlook: futures trade little changed, US employment data string eyed On Thursday gold for delivery in June traded within the range of $1,225.60-$1,242.10. Futures closed at $1,233.50, edging up 0.41% on a daily basis. It has been the 22nd gain in the past 42 trading days. The yellow metal has lost a meager […]
  • Lockheed to sell UH-60M Black Hawk helicopters to GreeceLockheed to sell UH-60M Black Hawk helicopters to Greece Lockheed Martin (NYSE: LMT) said on Friday that its Sikorsky unit had secured the sale of 35 UH-60M Black Hawk helicopters to the Government of Greece.”The latest generation UH-60M Black Hawk will support the Hellenic Ministry of […]
  • Forex Market: NOK/SEK daily forecastForex Market: NOK/SEK daily forecast During yesterday’s trading session NOK/SEK traded within the range of 1.1066-1.1148 and closed at 1.1096.At 6:44 GMT today NOK/SEK was adding 0.06% for the day to trade at 1.1094. The pair touched a daily high at 1.1101 at 5:05 […]
  • SAP AG’s share price up, plans job cuts to focus on cloud-based software delivery modelSAP AG’s share price up, plans job cuts to focus on cloud-based software delivery model The worlds largest business applications maker SAP AG currently considers its first widespread lay-offs in more than four years, as the companys new strategy is to focus on delivering its products mainly online. One of the companys spokesmen – […]
  • Germany’s September business confidence at 8-month lowGermany’s September business confidence at 8-month low The Ifo Business Climate gauge for Germany decreased for a fifth straight month in September, data by the Ifo Institute showed.The index came in at a reading of 85.4 in September, down from 86.6 in August. It has been the gauge’s […]