Helena Izotova
Yesterday, during a banking conference, Angela Merkel gave everyone to understand that Germany is ready to cancel objections concerning possible rating cuts by the ECB.
She said that the ECB obviously found itself in a difficult situation. Even though Germany is interested in higher rates, other eurozone members obviously want interest rate cuts since they desperately need more liquidity? The Chancellor concluded.
It should be noted, that the German economy is strengthening amid the overall decline in the eurozone. Probably, that is why German authorities keep talking about the necessity to spending cuts.
Forex.
The chart below, courtesy of the SRP Department of Masterforex-V Academy, reflects the current state of affairs in the market of EURUSD.
Helena Izotova
