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German unemployment dropped in Febraury

FXStreet (Mumbai) - The data released by Destatis, the Federal Statistical Office, showed the number of people unemployed in February fell 20K, beating the estimate of a 10K fall, and higher than the previous month’s figure of 10K.

The seasonally adjusted unemployment rate remained unchanged at 6.5% in February; the lowest level in more than two decades. The number of people out of work now stands at 2.81 million.

German unemployment drops, EUR/USD remained unresponsive

The official data released in Germany showed a drop in the unemployment number in February, despite which the EUR/USD pair remained unresponsive around 1.1354. The pair had hit a high of 1.1372 earlier today before inching lower ahead of the German data.
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USD/CAD testing lows ahead of 1.2400

USD/CAD extended its downside momentum and trades near fresh weekly lows in the European session as a subdued US dollar coupled continues to drag the pair lower.
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