GBPUSD: Bullish momentum picking up fractionally on yesterday’s short-covering..Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

German factory orders slide again
Drop 5.5 per cent in the year to October

Many had hoped, based on data over the last month or two, that perhaps Germany had turned the corner and that manufacturing had touched a low this summer and was beginning to recover. Factory orders published this morning showed that they had dropped by more than September’s 5 per cent fall, though an improvement on September’s 6.5 per cent decline. The low this year was an 8.4 per cent fall. This doesn’t quite chime with manufacturing and services PMIs published earlier this week which had slightly higher readings.

French unions, protesting against pension reforms proposed by President Macron, called a strike for today – and possibly a lot longer. Trains, planes and the metro are affected, many schools will remain closed, and hospitals will be working with a skeleton staff. Some gilets jaunes factions are planning to join the protests.

Financial Markets and Political Commentary

 

 

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