German Unemployment Rate rises to 5.6% in November vs. 5.5% expected

• German Unemployment Rate rose slightly to 5.6% in November.
• EUR/USD holds higher ground at around 1.0370 after the downbeat German data.

Germany’s Unemployment Rate came in slightly higher at 5.6% in November, the latest data published by Destatis showed on Wednesday. The market consensus was for a 5.5% reading.

The Unemployment Change arrived at 17K in the reported period, up from 8K in August and against expectations of 13K.

Market reaction

The EUR/USD pair remains elavated near-daily highs after the data, last seen trading at 1.0370, adding 0.41% on a daily basis.