MARKET UPDATES
The Australian dollar weakened because of the bigger-than-expected unemployment rate…
Industry keeps powering German surge
Surge in Germany, the EU’s number one economy, managed to hold up at a high level during the third quarter, powered by firm industrial orders even as construction activity stabilized and private consumption went down, as the Bundesbank reported in a monthly report.
Industry, underpinned by firm export demand, will probably to retain its role as a major pillar of a strengthening economy, as he key bank told on Monday. The financial institution added that the order situation of industrial companies turns to be perfect.
Germany, which boasts the lowest jobless rate in the euro zone, has greatly progressed in 2017, raising confidence across the EU and giving the ECB the biggest reason to tame extraordinary stimulus.
In the quarter car manufacturing happens to have overleapt a rough patch, and orders, especially from outside the euro zone, were good, as the report revealed.
On the other hand, construction most likely didn’t contribute to overall surge, maintaining a high level of output, while mediocre retail sales hint that consumption probably slumped.
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On Tuesday, the improved market sentiment supported risky assets such as stocks, emerging-market currencies, and crude oil.
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