Fundamental Analysis – Unemployment Rate increased and Angela Merkel’s challenges soared
On the European front, Angela Merkel’s electioneering campaign remains in full swing as the country is approaching to the full employment level. German unemployment numbers released today increased unexpectedly by 7K, while the forecast was a decrease by 5K which has pushed the euro lower. This has certainly created more challenges for Angela Merkel who is trying to convince Germany that she is the best person to run the country. Having said that, it is a fact that there is no recession in the country and thanks to Angela Merkel and her policies which has pulled the country out of a recession on the path of a stronger growth because, let’s not forget that Germany certainly has a spill over effect for rest of the Europe.