Germany’s unemployment rate fell to 7.6 percent for the month of July from 7.7 percent the previous month to mark the lowest since November 2008. At the same time, the number of people out of work tumbled 20K, following a revised 20K decline in June.

Benchmark financial assets are little changed from yesterday, with global stock and oil prices continuing to hint at possible double tops emerging at June’s highs while the US Dollar clings to support eyeing a recovery.

The Euro may advance as Germany’s Unemployment rate drops to 7.6 percent, matching a nearly two-decade low and boosting hopes that the Euro Zone’s largest economy can keep the region-wide recovery on pace.

Wednesday’s trading session was rather disappointing with the major currencies mostly confined to some consolidation.

New Zealand’s Trade Balance surplus narrowed to 276M in June from a revised 768M in the previous month as exports fell 9.8 percent while imports advanced 2.3 percent. Sales to Australia, China and Japan – New Zealand’s top three trading partners – fell 5.6, 15.9 and 14.3 percent respectively. A stronger currency may have accounted for the drop in overseas sales after the New Zealand Dollar added 0.5 percent in trade-weighted terms in June against its top counterparts. Indeed, a gauge from ANZ Bank showed the prices for the island nation’s top export commodities in terms of the local currency fell for the first time in five months in June.

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