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EUR/USD apathetic after German, EMU data

FXstreet.com (Barcelona) - The shared currency remained on the sidelines after the German employment data came in mixed during May.

The German jobless rate was unchanged at 6.9% despite the increase in the Unemployment Change by 21K vs. 5K expected. Further results in the EMU showed that the M3 Money Supply rose at an annual pace of 3.2% in April, exceeding forecasts and March’s print while Private Loans contracted 0.9% from -0.7% previous. Next on tap will be the advanced inflation figures in Germany for the month of May, expected to rise 1.3% over the last twelve months.

EUR/USD is now up 0.10% at 1.2869 with the next hurdle at 1.2885 (MA10d) ahead of 1.2950 (high May 28) and then 1.2968 (MA21d). On the downside, a drop beyond 1.2821 (low May 23) would clear the way to 1.2809 (low May 20) en route to 1.2796 (low May 17).

Germany: Unemployment Change jumps to 21K in May, against projections

The number of unemployed people in Germany rose to 21K in May, following 6K in April, according to data released by the Bundesagentur für Arbeit. Analysts expected a drop to 5K.
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EMU: M3 Money Supply expands 3% in April

The Eurozone M3 Money Supply increased 3% in the three months to April, following a 3% rise in the three months to March, according to the ECB official data. Analysts expected slightly less growth of 2.9%.
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