Forexpros – The number of unemployed people in Germany declined less-than-expected in July, official data showed on Thursday.
In a report, Germany’s Federal Statistics Office said the number of unemployed people declined by a seasonally adjusted 11K in July, after falling by 8K in June.
Analysts had expected the number of unemployed people to decline by 15K in July.
The report showed that Germany’s unemployment rate held steady at 7.0% in July, unchanged from the previous month, broadly in line with expectations.
Following the release of the data, the euro was slightly higher against the U.S. dollar, with EUR/USD easing up 0.03% to trade at 1.4371.
Meanwhile, European stock markets were broadly lower after the open. The EURO STOXX 50 fell 0.5%, France’s CAC 40 shed 0.6%, the FTSE 100 dipped 0.2%, while Germany’s DAX dropped 0.85%.
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