29.08.2014 - Eurozone unemployment rate totaled 11.5%

Today was published data according to which the level of unemployment in the euro area remained unchanged at 11.5%. The number of unemployed fell by 4 thousand. It should be noted that the figure for the 28 countries of the European Union is 10.2%. Also today will be published the data on inflation in the euro area, which has met the analysts' forecast - 0.3%. It is worth mentioning that the head of the ECB, Mario Draghi, during his speech at a conference in Jackson Hole declared readiness to deal with low inflation in the euro area, which should lead to further reduction of price of euro. An additional incentive for a drop in prices of the euro is strengthening of the American currency on the background of positive macro data in the country. We recommend holding short positions on the euro with targets at 1.32 and 1.28.

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