Heads Up: Spanish Unemployment Change is due in 15 Minutes

The Ministry of Employment is due to release the Spanish Unemployment Change in 15 minutes from now. Economists are expecting an extreme fall in unemployment change from -1.8K to -56.3K in December.

Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.

In case the actual figures come out as -56.3K, we may see some sell-off in the EUR/USD . Let’s keep an eye on it.