27.11.2014 - German labor market has shown strong results
Statistics on the labor market in Germany cheered investors. Thus, the number of unemployed in November fell by 14 thousand people, against an expected decline of 1000. As a result, the number of unemployed now stands at 2.87 million. It is worth noting that the unemployment rate remained at 6.6%, which is the minimum value for 20 years. It is also worth noting the improvement of the index of business confidence and growth of the economy as a whole. Decline in the euro and the reduction of unemployment stimulates the growth of consumer spending. We predict that the stimulus package from the ECB will lead to a further decline of the euro and the activation of the economy in the Eurozone. Our medium-term outlook for the euro remains negative with the objectives of 1.22 and 1.20.