Euro Pushes Higher After German Jobs Numbers, Data-Heavy Session Lies Ahead

EURO TALKING POINTS

• EURUSD uptrend continues
• A heavy session ahead for the Euro

The EURUSD was gaining some momentum at the open of the European session this morning, taking it past yesterday’s high of 1.1187, that came on the back of US inflation figures that missed expectations and failed to provide support for the Dollar. EURUSD bulls were reinforced as German unemployment change came in at -12k, beating expectations of just -5k. The German unemployment rate remained stable at 4.9% as expected.

German unemployment change measures the absolute change in number of people employed in Germany. A reading below expectations is seen as positive as more people are working which leads to a boost in the economy. A lower than expected figure is seen as bullish for the Euro.

EURUSD PRICE CHART: 1 MINUTE TIME-FRAME (INTRADAY - APRIL 30, 2019)

A HEAVY SESSION AHEAD FOR THE EURO

As the pair has mostly been dollar-driven in the past few sessions, today may be an expection as a busy session lies ahead for European data which is expected to bring volatility to the Euro. With focus later on in the morning around Euro-Zone GDP figures due to be released at 10am UK time, the market will shift to Germany again in the early afternoon as German CPI figures are to be released at 1pm. Both the MoM and YoY figures are expected to increase, coming in at 1.5% and 1.5%, up from 0.3% and 1.3% repectively.

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LOW  SPREAD  AS 0.0 PIPS