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German jobless claims rise by 2,000 in September

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Investing.com -

Investing.com - The number of unemployed people in Germany rose unexpectedly in September, fueling concerns over the health of the euro zone's largest economy, official data showed on Wednesday.

In a report, Germany's Federal Statistics Office said the number of unemployed people increased by a seasonally adjusted 2,000 this month, disappointing expectations for a drop of 5,000.

Jobless claims fell by 6,000 in August, whose figure was revised from a previously reported drop of 7,000.

The report showed that Germany's unemployment rate held steady at 6.4% in September, in line with expectations and unchanged from August.

EUR/USD was trading at 1.1225 from around 1.1227 ahead of the release of the data, while EUR/GBP was at 0.7413 from 0.7414 earlier.

Meanwhile, European stock markets remained sharply higher. Germany's DAX rallied 1.75%, the EURO STOXX 50 jumped 1.75%, France's CAC 40 rose 1.7%, while London's FTSE 100 advanced 1.6%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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