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From the German PMI press release:......>

GERMAN DATA
GERMAN DATA: From the German PMI press release: "November's survey data
indicated a further weakening of confidence among German businesses towards the
year-ahead outlook for activity. The degree of optimism was the lowest in almost
four years, with concerns towards geopolitical tensions, weakness in the
automotive sector and cooling market demand all serving to suppress business
expectations."
- So there is real concern that the auto sector is not going to rebound here in
the Q4 data and the outlook for the Eurozone economy looks increasingly poor.
This follows on from the weaker French PMI manufacturing and the poor details in
the German Q3 GDP release (see 7:12GMT bullet).
- EURUSD has fallen below yesterday's lows on this data and is approaching
support from Tuesday's low at 1.1359. A break below here would open up a move to
the Nov 12 lows at 1.1216, the lowest level since June 2017.

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