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26 April

By Ahmed Mamdouh

Category: FX Graph

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Spain quarterly unemployment rises to 16.74%

Spain’s unemployment rate came higher than forecast in the first quarter this year, data from the National Statistics Institute showed Thursday.

The non-seasonally adjusted jobless rate soared to 16.74 percent in the three months ended March from 16.55 percent the previous three months, exceeding analysts’ forecasts of 16.2 percent.

However, the jobless rate is still near its lowest level in a decade, where it has been showing significant improvement since hitting record highs above 25 percent.

As of 08:24 GMT, the euro traded slightly higher at $1.2171, ahead of the European Central Bank monetary policy decision later in the day.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.