Release Explanation: The number of jobs created, or the percentage of employed/unemployed in the labor market. Very important that economic forecasts are based on the labor market. Economic strength builds from the willingness/confidence of firms to hire, without a strong labor market growth is hard to achieve.
Trade Desk Thoughts: The number of unemployed persons looking for a job in Germany for the month of December rose by 18K, stronger than what analysts had expected. The unemployment number in Germany has been in a strong downtrend since 2005 and it seems the economic slowdown that the German economy faces still has not affected the labor forces, to some extent. Currently, the unemployment rate sits near 16-years low.
Forex Technical Reaction: The euro rose 90 pips in the overnight session, and is now testing the100-da moving average and the 1.36 area.