Market Updates: Spanish Unemployment Change Misses Forecast – EUR Takes a Dip - Forex News by FX Leaders

Market Updates: Spanish Unemployment Change Misses Forecast – EUR Takes a Dip

Posted Monday, March 4, 2019 by
Arslan Butt • 1 min read

Thanks to the worse than expected unemployment rate from Spain, our forex trading signal in EUR/JPY hit take profit. As per reports, the registered unemployment in the offices of the Public Employment Services has been reduced by 181k people with respect to the same month of the previous year. This marks a yearly reduction rate of 5.22%.The news release has also caused a sharp dip in the EUR/USD .

The EUR/USD pair has dropped to 1.1340 down by -0.30% just now. It can take a bullish reversal above $1.1320 today.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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