EUR firms briefly on German election – Scotiabank
Source Fxstreet
The German federal election result yielded the expected shift to the right—a win for the conservative CDU/CSU and gains for the far-right AfD, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EUR firms modestly, falls back on election
"The CDU did not win a majority, however, and will need to forge a coalition—most likely with the out-going Social-Democrats and rely on support from other, smaller parties – to govern."
"Coalition talks may take some weeks, however. EURUSD rallied to retest the low 1.05 area but resistance around 1.0530 capped gains again, keeping the near-term outlook for spot more or less flat."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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