Euro Higher As German Politicians Reach Deal For Coalition Talks
2018年1月12日 - 4:00PM
RTTF2
The euro strengthened against its major counterparts in European
deals on Friday, as talks between leaders of Angela Merkel's
conservative Christian Democratic Union bloc and the centre-left
Social Democrats have reached a "breakthrough" in coalition
agreement.
The preliminary deal agreed between Merkel's Christian
Democratic Union, its Bavarian sister party the Christian Social
Union and the Social Democratic Party opens door for detailed
discussions, raising prospectus for ending months of uncertainty
since elections in September.
The draft blueprint showed that both sides had agreed to keep
the top tax rate unchanged at 42 percent, if they form a new
coalition government.
SPD members will vote on the preliminary agreement on January
21, regarding whether formal talks should proceed.
Data from German economy ministry showed that the country's
strong economic momentum is likely to have eased somewhat by the
end of 2017 but the economy will be robust in 2018.
Large order intake and the positive business expectations signal
that the economic trend will continue to be robust in the current
year.
The single currency spiked up to more than 3-year highs of
1.1789 against the franc and 1.2137 against the greenback, from its
early lows of 1.1735 and 1.2031, respectively. If the euro rises
further, 1.20 and 1.23 are likely seen as its next resistance
levels against the franc and the greenback, respectively.
The 19-nation currency strengthened to a 1-1/2-month high of
0.8926 against the pound and a 3-day high of 134.80 against the
yen, reversing from its early lows of 0.8882 and 133.78,
respectively. The next possible resistance for the euro is seen
around 0.91 against the pound and 137.00 against the yen.
The European currency advanced to more than a 3-week high of
1.5194 against the loonie, 4-day high of 1.6728 against the kiwi
and an 8-day high of 1.5411 against the aussie, off its early lows
of 1.5060, 1.6547 and 1.5242, respectively. The euro is seen
finding resistance around 1.53 against the loonie, 1.69 against the
kiwi and 1.55 against the aussie.
Looking ahead, U.S. consumer prices and retail sales for
December, as well as business inventories for November are set for
release in the New York session.
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