Being pressed by the negative statistics published on Wednesday, the single European currency is pairing gains.
According to Eurostat, unemployment in the Eurozone edged up to its un-prece-dented high.
In April about 10.9% of Eurozone residents were unemployed. In Spain the number of jobless citizens appeared to be the most impressive - 24.4%. Austria, on the contrary, demonstrated the smallest number of the unemployed - 4%. Unemployment in the Eurozone has been climbing up for the 11th month in a row already.
It comes as no surprise, as a role model for European economies - Germany - is also suffering from soaring unemployment. Analysts had expected that the situation on the German labour market would change for the better by 0.1%, but unfortunately the indicator remained steady at its March reading.
The disappointing data sent the euro /US dollar pair below the level of 1dollar 32cents to 1 dollar 31.4 cent.
Further falling was hindered by negative messages concerning the current conditions on the US private sector labour market.
