Germany just dropped its October industrial production numbers, and they're surprisingly strong. Month-over-month output jumped 1.8% on a seasonally adjusted basis—way above the 0.3% consensus estimate and a solid bounce from September's 1.3% reading.

This kind of manufacturing momentum matters more than most people think, especially when broader European economic signals have been mixed. Industrial production data often hints at underlying economic health, which eventually flows into risk asset sentiment. Worth keeping on your radar if you're tracking macro trends that could shift market dynamics.