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Euro is depreciating due to the news from Germany

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Euro is depreciating due to the news from Germany
October 29
14:00 2018

The dollar is rising relative to other currencies, while the euro is falling due to the German media reports.

The beginning of the week brought the news that the party of the Chancellor had failed. Because of this failure Angela Merkel will leave the post after the current (fourth in a row) term in 2021.

The Alternative for Germany party (AfD) has been sent to the Parliament, getting about 12% of the votes. At the same time, the Chancellor’s party loses approximately 10% of the voters.

The yen and the franc lost their value after the news that China would reduce the tax on the car purchase in order to stimulate the market growth.

The pound retains its position against the dollar, but it is growing against the euro. At the beginning of the week, a budget presentation as well as a macroeconomic forecast from the British government will be available for the public. This will become possible during the appeal of the Ministry of Finance Philip Hammond to the Parliament.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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