At 9:55 the markets got to know a report on the German labour market for December 2016. It shows that the number of unemployed last month shrank by 17,000. Below you can find summary of the whole publication and its impact on the market.
Unemployment rates unchanged
Despite lower number of unemployed by 17 thousand people (forecasts talked about -5 thousand), this value was too small to affect the percentage of the employment rate, which is still 6.0%. The report, however, did not cause much volatility on pairs with USD. This does not change the fact that since the start of the morning session on the Old Continent, EUR/USD began to slump evidently:
In case of EURGBP the picture is completely different. Here declines stopped at 0.84900 (S1 PP) which resulted in a dynamic reversal and at the time of publication of the data pair gained 20 pips against the daily Pivot and stopping only at the M3:
