German Unemployment Rate (Apr) 6.4% vs. Exp. 6.3% (Prev. 6.3%)

The German unemployment rate came in slightly above expectations at 6.4%, compared to the forecast of 6.3%.

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[MARKET UPDATE] USD/JPY immediately falls 60 pips following comments from Japanese Finance Minister Katayama

Japanese Finance Minister Katayama says timing to take decisive action is near; "we are getting closer to taking decisive steps in FX"; have long mentioned possible bold action on FX; monitoring FX while on holiday

German Unemployment Rate (Apr) 6.4% vs. Exp. 6.3% (Prev. 6.3%)

China's Military says they conducted combat readiness patrols near Scarborough Shoal, according to a statement

China reportedly to allow state refiners to export some fuels to Asia buyers

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This reading, consistent with the prior month, suggests no immediate improvement in the labor market, which could influence ECB policies as they assess economic stability. Traders should watch for potential impacts on the euro and broader sentiment in European markets.

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