The EUR/USD pair is consolidating throughout the European trades. The single currency came off 1.2060 level against the greenback. The pair is holding at 1.2040. However, experts doubt that the euro will go lower given upbeat macroeconomic statistics from Germany. The largest economy of the euro area keeps delivering solid reports. In December, the number of people unemployed shrank by 29,000 in Germany. A drop of 12,000 had been anticipated. Besides, experts had expected Germany’s jobless rate to edge up to 5.6%, while the reading stood flat at 5.5%.
Yesterday, Germany reported on the maximum activity growth in the manufacturing sector. Meanwhile, the UK cannot boast of as positive statistics. Business activity growth in the UK’s construction sector slowed down with the corresponding PMI falling to 52.2 from 53.1. The manufacturing sphere in the UK showed a similar picture. However, the pound sterling is not very sensitive to macroeconomic statistics currently. The GBP/USD pair is still hovering near 1.36 level. Experts point out that the British pound may change its dynamic after the Services PMI release as it is an important indicator for the UK’s economy.
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