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GERMANY: EURUSD Pops to Fresh Session Highs Following Merz Comments

GERMANY
CEEMEAEurozoneGermanyBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • "GERMANY'S CONSERVATIVES LEADER MERZ: TO SUBMIT APPLICATION TO CHANGE DEBT BRAKE IN GERMANY" - Reuters
  • "SPECIAL FUND TO BE PRESENTED NEXT WEEK"
  • "ECONOMY MUST BE BROUGHT BACK ON GROWTH PATH, WTIH CREDIT FINANCED SPECIAL FUND WORTH 500 BLN EUROS"
  • "500 BILLION EUROS FUND FOR INFRASTRUCTURE, 100 BLN EUROS OF IT WILL GO TO STATES"
  • "GERMANY'S CONSERVATIVES LEADER MERZ: ALL DEFENSE SPENDING ABOVE ONE PERCENT OF GROSS DOMESTIC PRODUCT WOULD BE EXEMPT FROM THE DEBT BRAKE RESTRICTIONS" - Reuters
  • EURUSD extending higher following these latest remarks as Germany shows a willingness to bridge the US gap on military assistance.
  • Following the earlier break of 1.0533 resistance, EURUSD did briefly trade down to the 1.0500 mark but has since resumed the appreciating trend, printing a fresh session high at 1.0572. A close above 1.0533 would highlight an important technical break and provide the foundation for a stronger bullish short-term theme, opening 1.0630, the Dec 6 high. Above here, 1.0677 will be of note, a retracement point.
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  • "GERMANY'S CONSERVATIVES LEADER MERZ: TO SUBMIT APPLICATION TO CHANGE DEBT BRAKE IN GERMANY" - Reuters
  • "SPECIAL FUND TO BE PRESENTED NEXT WEEK"
  • "ECONOMY MUST BE BROUGHT BACK ON GROWTH PATH, WTIH CREDIT FINANCED SPECIAL FUND WORTH 500 BLN EUROS"
  • "500 BILLION EUROS FUND FOR INFRASTRUCTURE, 100 BLN EUROS OF IT WILL GO TO STATES"
  • "GERMANY'S CONSERVATIVES LEADER MERZ: ALL DEFENSE SPENDING ABOVE ONE PERCENT OF GROSS DOMESTIC PRODUCT WOULD BE EXEMPT FROM THE DEBT BRAKE RESTRICTIONS" - Reuters
  • EURUSD extending higher following these latest remarks as Germany shows a willingness to bridge the US gap on military assistance.
  • Following the earlier break of 1.0533 resistance, EURUSD did briefly trade down to the 1.0500 mark but has since resumed the appreciating trend, printing a fresh session high at 1.0572. A close above 1.0533 would highlight an important technical break and provide the foundation for a stronger bullish short-term theme, opening 1.0630, the Dec 6 high. Above here, 1.0677 will be of note, a retracement point.