Alex Borzak
German media report that the German government is determined to start reducing the amount of consumed coal in the near future. At the same time, the Eurozone’s strongest economy is going to boost the consumption of natural gas. This step is designed to improve the country’s energy-generating system, Market Leader reports.
In particular, the German Department of Energy has just published the so-called “Green Book” – an official report including the measures necessary to reduce the harmful environmental effect of coal consumption. It should be noted that the report I of recommendatory nature.
Indeed, the report is designed to make the German government consider a brighter (and greener) future of the local energy-generating system.
At the same time, some analysts are concerned that as the result of this coal reduction measures, Germany will be forced to increase the import of natural gas from Russia, thereby increasing its energy dependency on it amid sanctions imposed on Russia. Apparently, if this is the case, it is going to contradict the USA’s attempts to undermine Russia’s economy heavily dependent on energy exports.
Still, Germany needs more efficient energy sector to reduce the expenditures. The Eurozone’s strongest economy is showing signs of weakness, which instantly affects the common currency, some experts believe.
Forex
The common currency keeps on going down against the SU Dollar within the scope of a long-term downtrend. According to Masterforex-V Academy, which is a reputable coaching site when it comes to Forex and other financial markets helping Market Leader to define the current picture in the market of EURUSD in order to be able to outline the near-term prospects of the currency pair, the price has already dropped down to 1,2484. The next big level to monitor is 1,2255. The price will reverse the trend only after it breaks and consolidates above the top of the descending MF sloping channel and pivot 1,2855.
Alex Borzak
