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The EUR/USD continued the bearish trend on the neutral German job market data. The Euro depreciated against the US Dollar by 7 base points or 0.06% to move close to the edge of 1.2000.
German jobless rate reached a record low, as total unemployment fell more than anticipated in December, reinforcing the economy's broad-based upswing that boded well for strong growth in the future. Germany's unemployment rate matched the prior month's revised reading of 5.5% in December, while the yearly rate declined from 6.1% to 5.7%. The Europe's largest economy continued to benefit from a jobs bonanza, escorted by higher real wages and very low borrowing costs, while exporters face stronger demand from the US and China.
| Historical Data Table: German Unemployment Rate | Economic Calendar for 04.01.2017 | ||||||||
| Date | 31.08.2017 | 29.09.2017 | 02.11.2017 | 30.11.2017 | 03.01.2018 | 9:30 AM | UK Services PMI | ||
| Actual | 5.7% | 5.6% | 5.6% | 5.6% | 5.5% | 1:15 PM | ADP Non-Farm Employment Change | ||
| Forecast | 5.7% | 5.7% | 5.6% | 5.6% | 5.6% | 2:45 PM | US Services PMI | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| EUR/USD | 1.20429 | 1.20355 | -0.06% | EUR/USD | 39.89% | 60.11% | |||
| EUR/GBP | 0.88594 | 0.88555 | -0.04% | EUR/GBP | 41.03% | 58.97% | |||
| EUR/CHF | 1.17123 | 1.1707 | -0.05% | EUR/CHF | 28.44% | 71.56% | |||
| EUR/JPY | 135.295 | 135.234 | -0.05% | EUR/JPY | 26.58% | 73.42% | |||