When asked whether her government was deliberately withholding information about the Eurozone’s debt crisis ahead of September’s general election, German Chancellor Angela Merkel asserted: ‘We’re not leaving anybody in the dark on what has to be done, and we’ll keep doing it along these lines. […] I’m concentrating on my goal – I want the Christian-liberal coalition to continue.’
Some critics have argued that the German populace is not being told how much the nation is having to pay out in order to support struggling Eurozone nation’s like Greece, Portugal and Spain until Merkel has secured her third term in office, but during a televised interview the German leader assured that this was not the case.
According to recent polls Merkel’s party currently has 40 per cent of public support. When added to the 6.5 per cent support held by its Free Democratic coalition partners, the Christian Democratic party is in a position to win a majority in the lower house.
However, while new concerns are rising in certain members of the 17-nation currency bloc, and the details of a banking union are still being hashed out, it seems that major developments in the ongoing fiscal crisis may be put on hold until Merkel gains her victory.
The Euro/Pound pairing is currently trading in the region of 0.8649.
News likely to trigger EUR/GBP movement in the week ahead includes US retail sales figures, UK and Eurozone inflation data, the German ZEW economic sentiment survey, UK employment figures and the release of minutes from the Bank of England’s latest policy meeting.
As the European session opened the Euro was trading slightly lower against the US Dollar but was little changed against the Yen.
Euro (EUR) Exchange Rates
As of 09:00
The Euro/US Dollar Exchange Rate is currently in the region of: 1.3054 <
The Euro/Pound Sterling Exchange Rate is currently in the region of: 0.8643 <
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.4358 <
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6721 <
The Euro/ Canadian Dollar Exchange Rate is currently in the region of: 1.3575 >
