The biggest loser? That goes to current chancellor Olaf Scholz's SPD as they lost a huge chunk of support to end with roughly ~16.4% of the vote. That is the worst result by the faction in a federal election. Ouch. The Greens are the other notable standout, securing ~11.6% of the vote but also down slightly from their previous showing.
One key thing to be mindful about when viewing the coalition is their respective views n the German debt brake.
But if Merz wants support from the other parties, he will have to find some willingness to give a little. So, that could be what markets are hoping will happen.
Circling back to the EUR/USD chart above, it looks like buyers are keeping poised in search of an upside breakout above 1.0500. But is it coming a little too slowly and too late?
That means buyers will have to really do a lot more to convince of a stronger break higher, with the push above 1.0500 being just a starting point. There also needs to be a strong follow through to break the 100-day moving average for this to turn into a stronger trend beyond this week.
This article was written by Justin Low at www.forexlive.com. Read More Details
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