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Fundamental Forex Analysis

Euro area unemployment rate ticked down to 7.4% in December vs. 7.5% expected

  • Unemployment rate falls to 7.4% in eurozone unexpectedly. 
  • EUR/USD pair continues to float in positive territory near 1.1020.

The unemployment rate in the euro area fell to 7.4% in December from 7.5% in November and 7.8% in December 2018, the monthly data published by the Eurostat showed on Thursday. This reading came in better than the market expectation of 7.5%.

“The EU28 unemployment rate was 6.2% in December 2019, down from 6.3% in November 2019 and from 6.6% in December 2018,” the publication read. “This is the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000.”

EUR/USD stays calm

These figures failed to inspire EUR bulls. As of writing, the EUR/USD pair was trading at 1.1020, adding 0.1% on a daily basis.

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