Euro area Unemployment Rate declines to 8.4% in October as expected

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  1. The unemployment rate in the euro area fell moderately in October.
  2. EUR / USD is trading with small losses above 1.2050 after the data.


The seasonally adjusted unemployment rate in the euro area fell to 8.4% in October from 8.5% in September, data published by Eurostat showed on Wednesday. This reading coincided with analysts’ estimates.

“The EU unemployment rate was 7.6% in October 2020, stable compared to September 2020 and higher than 6.6% in October 2019,” the publication read.

Market reaction

This report does not appear to have an impact on the performance of the shared currency against its peers. At the time of writing, the EUR / USD was down 0.1% on a daily basis at 1.2058.

About the author

Nafees Saifi // entrepreneur, author, trainer, and stocks and FX trader. 
Nafees Saifi is a professional FX trader from, India. Nafees has extensive experience trading commodities, bonds, and equity futures in the Asian, European, and US markets. Nafees holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

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