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.

Trade Desk Thoughts: The number of unemployed persons looking for a job in Germany for the month of January rose by 40K, 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.

Forex Technical Reaction: The euro struggled to break above the 1.2750 area in the European session. Against the pound, the euro traded flat tonight.