German Unemployment Falls As E.Z. Inflation Expectations Rise, Putting ECB on Alert
The German unemployment rate unexpectedly fell from a revised 8.1% to 8.0% against expectations for a rise to 8.2%. The number of out of work Germans dropped by 31,000, marking the ninth straight month that the economy didn’t add to its unemployment rolls.
EUR/USD: Trading the ISM Manufactuing Report
Manufacturing in the U.S. is expected to expand at a faster pace in March as market participants forecast the ISM index to increase to 57.0 from 56.5 in the previous month, and the data is likely to encourage an improved outlook for the world’s largest economy as the recovery gathers momentum.
Euro Pares Overnight Decline as Price Pressures Intensify, British Pound Extends Advance
The Euro pared the overnight decline and rallied to a high of 1.3472 following a rise in inflation, but the lack of momentum to cross back above the 20-Day SMA (1.3563) is likely to keep the exchange rate within a narrow range ahead of the U.S. non-farm payrolls report due out on Friday.