Spanish jobless claims fall by 13,500 in February

The number of unemployed people in Spain fell unexpectedly in February, easing concerns over the health of the euro zone’s fourth largest economy, official data showed on Tuesday.

In a report, Spain’s Employment Ministry said the number of unemployed people declined by a seasonally adjusted 13,500 last month, compared to expectations for an increase of 10,500. The number of unemployed people rose by 78,000 in January.

EUR/USD was trading at 1.1191 from around 1.1205 ahead of the release of the data, while EUR/GBP was at 0.7277 from 0.7284 earlier.

Meanwhile, European stock markets were modestly higher after the open. Spain’sIBEX 35 rose 0.15%, the EURO STOXX 50 climbed 0.15%, France’s CAC 40 advanced 0.2%, Germany’s DAX ticked up 0.2%, while London’s FTSE 100 edged 0.15% higher.