Chancellor Scholz: Will make it through the winter if Germany continues to adapt

Dhwani Mehta FXStreet

Germany’s Chancellor Olaf Scholz said on Tuesday, the country “will make it through the winter if citizens, companies and policymakers continue to adapt to the country's changed energy situation.”

Additional quotes

We cannot expect energy deliveries from Russia for the foreseeable future.

We expressly support the EU commission's plans to build new partnerships in important growth regions, with Chile and Mexico, prospectively with Mercosur, and with India and Australia and others.

Putin wants to divide Europe and German society but we will not allow this.

The government is urgently considering gas price brake proposals and clarifying how to adopt and implement.

We need international agreement on energy prices, this will be discussed at the G7.

We will discuss inflation reduction act with the us, there must be no customs war.

The ratification process for EU free trade agreements must be reconsidered.

Market reaction

Amid risk aversion and firmer Treasury yields, EUR/USD is keeping its range trade intact just above 0.9700, up 0.16% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD looks apathetic around 1.1770

EUR/USD comes under renewed pressure on Tuesday, deflating below the 1.1800 support and reversing two consecutive days of gains. The pair’s decline follows the persistent move higher in the US Dollar, as trade uncertainty dominates the sentiment ahead of President Trump’s SOTU speech.

GBP/USD regains 1.3500 and above

GBP/USD extends its advance for the third day in a row on Tuesday, this time retesting the area beyond the 1.3500 hurdle. Cable’s uptick comes despite decent gains in the Greenback and the dovish message from the BoE’s Bailey at the UK Parliament.

Gold appears offered around $5,150

Gold is giving back a good portion of the recent multi-day rally, receding to the $5,150 zone per troy ounce amid the decent bounce in the US Dollar and mixed US Treasuty yields. In the meantime, markets’ attention remain on upcoming comments from Fed speakers.

Crypto Today: Bitcoin, Ethereum, XRP come under renewed pressure amid ETF outflows, tariff uncertainty

Bitcoin, Ethereum and Ripple are trading under increasing selling pressure at the time of writing on Tuesday, as market participants navigate renewed tariff uncertainty. The Crypto King holds above $63,000, down 2% intraday from its $64,656 open.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.