Germany: Unemployment Rate rises to 5.3% in June vs. 5% expected

Unemployment Rate in Germany rose unexpectedly in June.
EUR/USD continues to trade near the 1.0450 area after the data.

Eren Sengezer FXStreet

The Unemployment Rate in Germany rose to 5.3% in June from 5% in May, the data published by Germany's Destatis showed on Thursday. This print came in worse than the market expectation of 5%.

In the same period, the number of unemployed increased by 133,000, missing analysts' estimate for a decrease of 6,000 by a wide margin.

Market reaction

The EUR/USD pair is struggling to stage a decisive rebound after this report and was last seen trading flat on the day at 1.0443.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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