- Germany’s political instability following Chancellor Scholz’s loss of a confidence vote, paving the way for early elections, adds uncertainty to the euro amidst ongoing economic and geopolitical challenges.
Germany, Europe’s largest economy, is now under a caretaker government.
Chancellor Olaf Scholz lost a confidence vote in the Bundestag on Monday, paving the way for a snap election in February.
Key issues in the upcoming campaign are expected to include the war in Ukraine, the financial demands of strengthening Germany’s military, a struggling economy, immigration, and the growing influence of political extremes.
Amongst this turmoil, technical indicators possibly lack sufficient strength for a bullish confirmation. A break below 1.0460, a key support level, could open the door to a bearish move toward 1.0400.
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