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Image: Fabrizio Verrecchia on Unsplash
France saw a three point increase to 96 in its manufacturing confidence survey last week. Confidence surveys are important because they reflect what managers think and not what governments report. We'll ask a farmer what's going on with the soil first.
Many countries need manufacturers to be busy and even have backlog issues (not enough labor to meet production schedules) which force efficiency innovation up and down the supply chain. Open orders and committed costs are good indicators of what is really happening at a company and with its partners.
EUR/USD will open at 1.163 today.