Germany’s IFO economic institute said in a statement on Wednesday, the outlook for Germany’s labor market is expected to be upbeat for the first quarter of 2023.

Key takeaways

“The latest employment barometer showed "the employment outlook for the first quarter of 2023 is positive, driven primarily by service providers.”

“Personnel service providers are also optimistic about the coming months."

Market reaction

The Euro remains pays little heed to the upbeat report, with EUR/USD keeping its range at around 1.0620, 0.10% higher on the day, as of writing.