German Unemployment Rate rises to 5.6% in November vs. 5.5% expected

German Unemployment Rate rose slightly to 5.6% in November.
EUR/USD holds higher ground at around 1.0370 after the downbeat German data.

Dhwani Mehta FXStreet

Germany’s Unemployment Rate came in slightly higher at 5.6% in November, the latest data published by Destatis showed on Wednesday. The market consensus was for a 5.5% reading.

The Unemployment Change arrived at 17K in the reported period, up from 8K in August and against expectations of 13K.

Market reaction

The EUR/USD pair remains elavated near-daily highs after the data, last seen trading at 1.0370, adding 0.41% on a daily basis.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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