Euro Slides Ahead Of German Jobless Rate, Eurozone Manufacturing PMI Data
May 02 2012 - 3:52AM
RTTF2
Germany's April unemployment data is due from the Federal Labor
Agency at 3.55 am ET. The number of unemployed persons is expected
to drop 10,000 in April after falling 18,000 a month ago.
Final Purchasing Managers' survey results from Germany and
Eurozone are due out at 3:55 am ET and 4:00 am, respectively. The
final manufacturing PMI for both Germany and euro area are expected
to match the flash estimate of 46.3 and 46.0 each in April.
The euro edged sharply lower against its major opponents ahead
of the data. As of 3:50 am ET, the common currency was trading at a
5-day low of 1.3186 against the dollar and a 2-day low of 0.8132
against the pound. The common currency also retreated to 106.0
against the yen and 1.2017 against the franc by this time from its
recently hit multi-day highs of 106.57 and 1.2023,
respectively.
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