Not exactly buying the dips at the moment…Traders report the BIS is buying euros around the 1.3820 level…
Just crossing the wires, German seasonally adjusted unemployment held steady at 7.5% in October versus September.
On an unadjusted basis, there are just under 3 mln unemployed. 7-8 years ago, Germany struggled with more than 5 mln unemployed.
I know, I know. There are lots of government programs that count people as employed who ain’t exactly pulling in a normal paycheck, but there has been some structural improvement.