The regional employment figures out of Europe have produced mixed results today. Germany’s employment change revealed a contraction in jobs, but Italy published results which produced a modicum of optimism. The regional unemployment rate held steady at 9.9% and all of this data together has helped the EUR weather any bearish sentiment.
Traders are looking to this week’s employment data out of the United States as most investors look beyond fundamentals and debt woes to focus instead on the interest rate differentials between the two Atlantic giants. What impact this will have on the value of the EUR and USD this week is something many analysts are trying to speculate.
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