Stirling weakened off the backs of less than expected GDP figured (QoQ )coming in at -1.6% from a forecast of -1.5%. The previous quarter saw an increase by 1.3%
German Unemployment conditions improved with the Unemployment Rated dropping from 6.0% down to 5.9% along with 38K new jobs added back to the work force. This 38K figure is consistent with the early stages of the recovery we saw throughout the early months of this year. The previous month was also revised from 6.0% down to 5.9%.
The 5.9% Unemployment Rate is a fairly consistent drop since the peak of in July 2020 at 6.5%
Euro Area CPI came in at 1.9% The Euro slightly dropped following report from 1.1888 down to 1.8885 as all eyes then shifted focused towards the U.S ADP report that was released at 8:15am EST. The The results from ADP were better than expect at 690k, however the previous month was revised down. Markets hardly budged from the report, however gold extended it's loses.
The Yen also strengthened against all major currencies this morning.
German Unemployment conditions improved with the Unemployment Rated dropping from 6.0% down to 5.9% along with 38K new jobs added back to the work force. This 38K figure is consistent with the early stages of the recovery we saw throughout the early months of this year. The previous month was also revised from 6.0% down to 5.9%.
The 5.9% Unemployment Rate is a fairly consistent drop since the peak of in July 2020 at 6.5%
Euro Area CPI came in at 1.9% The Euro slightly dropped following report from 1.1888 down to 1.8885 as all eyes then shifted focused towards the U.S ADP report that was released at 8:15am EST. The The results from ADP were better than expect at 690k, however the previous month was revised down. Markets hardly budged from the report, however gold extended it's loses.
The Yen also strengthened against all major currencies this morning.