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Friday, June 21, 2024

EUR/USD Rises 0.38% After Eurozone Unemployment Data

EUR/USD Rises 0.38% After Better-Than-Expected Eurozone Unemployment Data

The euro climbed against the US dollar on Friday after eurozone unemployment data surprised to the upside in April.

The EUR/USD exchange rate rose 0.38% to 1.0841 following the release of the unemployment report from Eurostat.


Analysts had expected the eurozone seasonally-adjusted unemployment rate to hold steady at 6.5% in April, matching the March figure. However, the actual unemployment rate declined more than expected to 6.4%.

The unemployment rate has remained stable for the past few months. Eurozone Unemployment rate continues to stay around 6.4% to 6.5%.

The upside surprise in eurozone labor market data helped the common currency claw back some of its recent losses against the dollar. The EUR/USD pair is up 0.38% at 1.0841 following the unemployment report, finding support from the stronger-than-forecast economic data.

Publisher and editor of LJLNews. I am a Stock Market enthusiast, with an interest for politics. I hope you enjoy reading the articles! Contact me at: Lazaruslucas@ljlnews.com

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