Germany Unemployment Change comes in at 12K against 0K consensus

Germany’s Unemployment Change for September registered an increase of 12K, according to data released today. This figure came in above the consensus expectation of 0K and also exceeded the previous month’s reading of 4K. The increase indicates a rise in the number of unemployed individuals.

Following the release, the Euro saw varied movements against major currencies over the initial 15 minutes. EURUSD rose by 6.2 pips, while EURJPY gained 18 pips. EURNZD moved up by 13 pips. Other pairs like EURAUD, EURCAD, EURCHF, and EURGBP showed smaller increases, with EURAUD up 4.7 pips, EURCAD up 4.3 pips, EURCHF up 2.0 pips, and EURGBP up 4.6 pips. Compared to historical data, where the median 1-hour move for EURUSD is 6 pips and for EURJPY is 10 pips, the initial reaction for EURJPY and EURNZD appears larger than typical, while EURUSD’s move is close to its median. For EURAUD, EURCAD, EURCHF, and EURGBP, the initial 15-minute moves are smaller than their respective median 1-hour moves of 11 pips, 7 pips, 5 pips, and 7 pips.