Germany has benefited from past labor market reforms but now that the economy is showing signs of life, labor is reluctant to bend much more. AFX reports that IG Metall, the German engineering union, calls for strikes to protest the government"s plan to raise the retirement age to 67.
It's back to the future in Germany. EUR/USD is getting a lift from continued sovereign demand on dips, trading back up to 1.2995. Expiries at 1.3000 are helping as well. 1.3015 offers are eyed near-term. Small stops are above. Stops on the downside are seen below 1.2970.
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