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Today at 8:55 GMT German unemployment data was published.
- Data showed that unemployment rate remained stable at 6.5 percent. Pay roll added 20,000 more jobs.
- The growth in employment, GDP, export for Germany remained robust as seen in the recent data and market participants showed their vote of confidence in buying German 5 year bund at negative yield yesterday.
- Euro remained unmoved over the good data print as the currency not only presents Germany but 19 countries as a whole.
- Many of the Euro zone countries are still in trouble where unemployment hovers above 10 percent.
- Scenario is scarier in Spain and Greece, where every one in five does not have a job.
- Even better off countries like Netherlands, Austria, Finland have unemployment rates hovering above 8 percent.
Until the situation improves for the general people it is very difficult to experience a strong Euro over long term. So far the measures like very easy monetary policy by ECB failed to tackle the situation.
Chart shows the situation in different countries.
