Euro zone July unemployment 11.3%

Unchanged from revised 11.3% in June (prev 11.2%) and in line with median forecast.

Euro zone August inflation estimated at 2.6% y/y vs 2.4% in July, stronger than median forecast of 2.5%.

Euro bulls have managed to trip buy stops through 1.2540 and we’ve moved quickly to 1.2558.

Sell orders remain up at 1.2580/00 ahead of 1.2600 barrier option interest.  More buy stops above there.

At the end of the day we remain ensconsed within 1.2450-1.2600 range.

2 Comments

  1. Pretty bad number in my opinion anyway. People just got desensitised.
    Also the demographic profile of the unemployed is skewed towards young people – the ones who fill up the streets.

  2. That was the first time unemployment rate didn’t spread after many consecutive rises, I just wonder if you have sold some USD Gerry ;)

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