Tue, January 31, 2017
German unemployment declined to a record low this month in a sign that Europe’s largest economy is accumulating momentum.
The jobless rate fell to 5.9%, as the number of people out of work decreased by a seasonally adjusted 26,000 to 2.61 million. Economists expected the rate would stay unchanged at 6% and the number of unemployed would fall by 5,000.
Euro-area inflation advanced after the bloc’s economy recorded its strongest increase in three quarters, which may intensify a debate within the ECB about its stimulus program.
The 1.8% annual increase in consumer prices in January was the fastest since early 2013 and surpassed the 1.5% expectation. The jump this month means the rate is now effectively at the ECB’s aim of just under 2% .
Sterling plunged against both the Dollar and the Euro this morning. The Pound fell to 1.2425 against the dollar after starting the day at 1.2495. Sterling also declined to 1.1601 against the Euro.
Data to look out for today.
08:55: EUR German Unemployment Rate
08:55: EUR German Unemployment Change
10:00: EUR Euro-Zone Gross Domestic Product
10:00: EUR Euro-Zone Consumer Price Index
15:00: USD Consumer Confidence
CURRENCY PAYMENTS MADE SIMPLE
PRESS RELEASE
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| Day | Time | Currency | Event |
|---|---|---|---|
| TUE | 06:30 | EUR | EUR French Gross Domestic Product (YoY) | TUE | 06:30 | EUR | EUR French Gross Domestic Product (QoQ) | TUE | 06:30 | JPY | JPY BOJ Governor Kuroda press conference | TUE | 07:00 | EUR | EUR German Retail Sales (MoM) | TUE | 07:00 | EUR | EUR German Retail Sales (YoY) | TUE | 08:00 | EUR | EUR ECB's Mario Draghi Speaks in Frankfurt | TUE | 08:55 | EUR | EUR German Unemployment Change | TUE | 08:55 | EUR | EUR German Unemployment Rate s.a. | TUE | 09:30 | GBP | GBP M4 Ex IOFCs 3M Annualised | TUE | 09:30 | GBP | GBP Net Consumer Credit | TUE | 09:30 | GBP | GBP Net Lending Sec. on Dwellings | TUE | 09:30 | GBP | GBP Mortgage Approvals | TUE | 09:30 | GBP | GBP M4 Money Supply (MoM) | TUE | 09:30 | GBP | GBP M4 Money Supply (YoY) | TUE | 10:00 | EUR | EUR Euro-Zone Gross Domestic Product s.a. (YoY) | TUE | 10:00 | EUR | EUR Euro-Zone Consumer Price Index Estimate (YoY) | TUE | 10:00 | EUR | EUR Euro-Zone Consumer Price Index - Core (YoY) | TUE | 10:00 | EUR | EUR Euro-Zone Gross Domestic Product s.a. (QoQ) | TUE | 10:00 | EUR | EUR Euro-Zone Unemployment Rate | TUE | 12:15 | EUR | EUR ECB's Yves Mersch Speaks in Frankfurt | TUE | 13:30 | USD | USD Employment Cost Index | TUE | 14:00 | USD | USD S&P/Case-Shiller US Home Price Index | TUE | 14:00 | USD | USD S&P CoreLogic CS 20-City (MoM) SA | TUE | 14:00 | USD | USD S&P/Case-Shiller Composite-20 (YoY) | TUE | 14:00 | USD | USD S&P/Case-Shiller Home Price Index | TUE | 14:00 | USD | USD S&P/Case-Shiller US Home Price Index (YoY) | TUE | 14:30 | EUR | EUR ECB's Benoit Coeure Speaks in Frankfurt | TUE | 14:45 | USD | USD Chicago Purchasing Manager | TUE | 15:00 | USD | USD Conf. Board Present Situation | TUE | 15:00 | USD | USD Conf. Board Expectations | TUE | 15:00 | USD | USD Consumer Confidence | TUE | 16:30 | USD | USD U.S. to Sell USD20 Bln 52-Week Bills | TUE | 16:30 | USD | USD U.S. to Sell 4-Week Bills |
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*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team
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