Release Explanation: Measures the number of jobs created, or the percentage of employed/unemployed in the labor market. “Over time the Employment Data will affect all economic releases, it does however take time for labor trends to form,” Trade Team said. Trade Desk Thoughts: The unemployment rate in the Euro-area continues to rise. The latest release, for the month of March, shows that the unemployment rate reached 8.7%, more than was expected.

The unemployment rate for the month of February was also revised higher, to 8.7%. About 14.158 million persons were unemployed in the Euro-area, up by a huge 419K from one month earlier. From one year ago, the unemployment rate rose by 1.2%, or 2.816 million persons.
Among the Member States, the lowest unemployment rate was recorded in the Netherlands (2.8%), and the highest rates in Spain (17.4%), Latvia (16.1%) and Lithuania (15.5%). Except for Austria, all the other member states reported higher unemployment rate in March from one-month earlier

Forex Technical Reaction: The euro rose sharply during the London session, but now the pair has peaked near the 1.3380 resistance area. Against the pound, the euro lost 30 pips.