Germany: Unemployment Rate stays unchanged at 5% as expected

• Unemployment Rate in Germany stayed unchanged at 5% in April as expected.
• EUR/USD clings to modest daily gains above 1.0500 in the early European session.

The data published by Germany's Federal Labour Office showed on Tuesday that the seasonally adjusted Unemployment Rate in April stayed unchanged at 5% in April, matching the market expectation.

Further details of the publication revealed that the number of unemployed declined by 13,000 to 2.287 million, compared to analysts' estimate for a decrease of 15,000.

Market reaction

EUR/USD continues to edge higher after this report and was last seen gaining 0.2% on the day at 1.0523.