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EUR firms briefly on German election - Scotiabank
Breaking news
EUR firms briefly on German election - Scotiabank
New
2025.02.24 21:12
2025.02.24 21:12
2025.02.24 21:12
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."
Last updated
: 2025.02.24
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