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France: Grassroot protests hit consumer confidence - ING

Julien Manceaux, Senior Economist at ING, points out that the French consumer confidence dropped from 94.6 to 91.6 in November as a wind of revolt blows all over France.

Key Quotes

“More than 250k protesters have taken to the streets in the last few weeks complaining about the increasing prices at gas stations, partly due to the various environment taxes.”

“In November, fears of unemployment rebounded while the French also became more pessimistic about their ability to save. In particular, purchasing intentions took a plunge, which could be a cause for concern for retailers a few weeks before Christmas. One has to go back as far as January 2015 to see levels this low.”

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USD/CHF Technical Analysis: Finds acceptance above 200-hour SMA; bullish rectangle on 1-hourly chart

   •  The pair has been oscillating within a broader trading range over the past 24-hours or so, forming a rectangular chart pattern on the 1-hourly c
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