Post-German election optimism proves fleeting

Welp, that certainly didn’t take long. The German election result provided a glimmer of hope for a turnaround in the German economy. But after an early boost, it looks like traders are still reserving some caution. There’s still a lot that needs to be done for the coalition to work. So, I guess therein lies the risk of the possibility of going back to the drawing board.

EUR/USD is now up just 0.2% to 1.0475, down from around 1.0515 at the start of the session. Meanwhile, the DAX kick started the day around 1% higher but briefly erased all of its gains – now seen up just 0.2%.

It’s still early in the day and there is much to digest from the post-election flows. But if anything else, another failed break of 1.0500 is a not a good look for EUR/USD buyers.

EUR/USD daily chart

Source link

Get RawNews Daily

Stay informed with our RawNews daily newsletter email

Diddy Prosecutors Say They Have Recording of Original Cassie Beating Video

What technical levels are in play for the AUDUSD & NZDUSD heading into next weeks trading

Mace sued for defamation by man she accused of abuse in floor speech

Kristin Cavallari Dances on Bar, Pours Shots for Men at Gay Saloon