Single Currency The Weakest
Euro is at the position of the softest currency. Euro/Dollar pair dropped 0.00% to trade at 1.1734. Today, the US will publish Existing Home Sales and Janet Yellen will deliver her comments. Tomorrow, the US will announce employment, durable goods and consumer confidence numbers. Plus, Fed will release its November meeting protocol. US Building Permits for single-family homes rose to 1.30M. In annual terms, the pace of building permits growth in October reached the ten-year maximum. Housing Starts grew to 1.29M.
Angela Merkel didn’t manage to create a coalition with Free Democratic Party and Greens. The Chancellor is about to negotiate with leaders and figure it out, but so far, Germany will remain in the standby mode. Leader of FDP Frank-Walter Steinmeier claimed that so far there is no need in arranging new election and that leaders of parties should take some time and mull the whole situation. But, if there is no progress negotiations, they would be forced to call the election. The appreciation of Angela Merkel has strongly sunk.