German jobless rate seems to have remained stable at 6 pct in November

German labor market is likely to have continued to strengthen in November. According to a Societe Generale research report, the number of unemployed people are likely to have declined by 18,000 after a larger than expected decline of 13,000 in October. This is expected to bring in the jobless rate stable at 6 percent.

Given that the sentiment is rebounding from an already high level, Germany’s employment growth is likely to strengthen again. The number of vacancies had increased to 676,000 jobs in October, which is a historical high. Also, the labor market strength augurs well for continued domestic demand led growth in Germany, added Societe Generale.

At 12:42 GMT, the EUR/USD pair is trading at 1.0588. Meanwhile, At 12:00 GMT the FxWirePro's Hourly Strength Index of Euro was neutral at 42.368, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at 47.1911. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex