Scholz has hinted at a coalition deal on this for a few weeks, so it’s no big surprise. However there were some rumblings that it could be blocked. In any case, the question for now is how long they’re extended for.
In the short term, this will relieve some of the pressure on natural gas and electricity prices this winter. It’s good news for the euro, at the margins, but would have been 95% priced in.
An interesting development was China banning the re-selling of LNG to Europe this weekend. That could be a big problem when it comes to securing supplies mid-winter or refilling storage next year.
Update: The extension is only until April 15, rather than a longer-term extension that some had pushed for. On the margin, this simply kicks the can down the road by four months.
/EUR
EUR
The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value since then and importance in the global market has helped solidify its status as one of the most important currencies in the FX market today.Together with the USD, the currency pair is easily among the most important for forex, given its exposure into the two main economic blocs. What Factors Affects the EUR?There are several factors that affect the euro. Like most currencies, monetary policy is the most influential, which in this case refers to the European Central Bank (ECB).The ECB is responsible for regulating the monetary policy, money supply, interest rates, and relative strength of the euro. Forex traders of the euro are routinely tuned into any decision or announcements from the ECB for this reason.With 19 sovereign member states, the euro is particularly vulnerable to political developments. Recent examples include Greece’s debt crisis and Brexit, among others, which can seriously impact the euro.Finally, economic data from the bloc or from key member states such as Germany, France, Spain, and others are also closely eyed. This includes retail sales, jobless claims, Gross Domestic Product (GDP), and others.
The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value since then and importance in the global market has helped solidify its status as one of the most important currencies in the FX market today.Together with the USD, the currency pair is easily among the most important for forex, given its exposure into the two main economic blocs. What Factors Affects the EUR?There are several factors that affect the euro. Like most currencies, monetary policy is the most influential, which in this case refers to the European Central Bank (ECB).The ECB is responsible for regulating the monetary policy, money supply, interest rates, and relative strength of the euro. Forex traders of the euro are routinely tuned into any decision or announcements from the ECB for this reason.With 19 sovereign member states, the euro is particularly vulnerable to political developments. Recent examples include Greece’s debt crisis and Brexit, among others, which can seriously impact the euro.Finally, economic data from the bloc or from key member states such as Germany, France, Spain, and others are also closely eyed. This includes retail sales, jobless claims, Gross Domestic Product (GDP), and others. Read this Term
(Bloomberg) — A rising variety of Iranian oil tankers are sitting idle off the nation's coast as a renewed U.S. naval blockade disrupts crude exports and will increase strain on Tehran's power revenues,...
In case you missed it, from earlier: BofA cuts USD/JPY year-end forecast to 149 after interventionThis provides to their earlier fast take that the joint motion by the US and Japan has eliminated...
When Meta used celebrity Kylie Jenner to advertise its glossy new line of “spy glasses”, the social media firm hoped the gadgets would attain the identical broad acceptance that tablets and smartwatches have...
Harding Loevner LP is a rising international asset administration agency headquartered in New Jersey, USA (Metro NYC). Harding Loevner manages over $52 billion in long-only fairness portfolio methods comprising of high-quality, rising firms...
Comply with ZDNET: Add us as a most well-liked supply on Google.ZDNET's key takeawaysDuckDuckGo for iOS has a brand new privateness characteristic.Copy Clear Hyperlink prevents monitoring info from being copied.You may share...
