Euro holds as eurozone joblessness climbs to 11.7%

<p>The euro has held its ground as joblessness in the single currency region climbs.</p>

The euro has held its ground in forex trading versus the dollar and the pound this morning (November 30th) on news unemployment in the eurozone hit fresh highs in October.

According to official figures from Eurostat, the joblessness rate continued to climb over last month, reaching 11.7 per cent.

This is up from the 11.6 per cent logged in September and the 10.4 per cent recorded in the same month in 2011.

An additional 173,000 people were out of work across the single currency region, bringing the total unemployment figure to 18.7 million.

Germany's jobless figure held at 5.4 per cent, while Austria's fell from 4.4 per cent to 4.3 per cent, but Spain continued to suffer, seeing its rate rise from 25.8 per cent to 26.2 per cent.

At 11:15 GMT, the euro was 0.1 per cent higher in trading with the dollar to €1 buying $1.300, while it gained by 0.2 per cent against the pound to £0.810.

Learn about the currency markets and find forex trading tips at City Index.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.