The third straight monthly decline for the Leading Economic Index (LEI) in October is notable because there have not been a three-month slump since 2009, explained analysts at Wells Fargo. Key Quotes: “The soft patch in the manufacturing sector manifests itself in today’s report in a couple of ways. The largest drag came from the new orders component. ISM new orders have been in contraction territory since August, but the index rose to 49.1 in October, suggesting at least some upside momentum.” “Though it was the third straight monthly decline, the 0.1% move lower in October was only a modest one. If we look at the three-month annualized rate we can see that we’ve been here before in this cycle and the economy has bounced back.” “Still, some contributors like rising stock prices can be fickle. Thus far in November, the stock market gains are holding. Initial jobless claims, a drag in October, are still creeping higher.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Technical Analysis: Yellow Metal losing its shine below the 1480 resistance FX Street 3 years The third straight monthly decline for the Leading Economic Index (LEI) in October is notable because there have not been a three-month slump since 2009, explained analysts at Wells Fargo. Key Quotes: "The soft patch in the manufacturing sector manifests itself in today's report in a couple of ways. The largest drag came from the new orders component. ISM new orders have been in contraction territory since August, but the index rose to 49.1 in October, suggesting at least some upside momentum." "Though it was the third straight monthly decline, the 0.1% move lower in October was only… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
