Release Explanation: The release weights the number of jobs created, or the percentage of employed/unemployed in the labor market. “Economic strength builds from the willingness/confidence of firms to hire, without a strong labor market growth is hard to achieve,” TheLFB-Forex.com Trade Team said.
TheLFB-Forex.com Trade Desk Thoughts: The number of unemployed persons looking for a job in Germany for the month of March rose by 58K, less than what analysts had expected.
“The unemployment number in Germany has been in a strong downtrend since 2005, but it seems the economic slowdown that the German economy faces had reach the job market. Previously, the unemployment rate reached a 16-years low,” TheLFB-Forex.com Trade Team said.
Forex Technical Reaction: The euro is trading just above TheLFB R1 (1.3285), after gaining 110 pips during the overnight session.