Olaf Scholz, the Social Democratic Party (SPD) Chancellor candidate to succeed Angela Merkel at the helm of Europe’s largest economy said that he wins the election and has the mandate to form a government with Greens and Free Democratic Party (FDP).
“Coalition agreement is possible between SPD, Greens, FDP.”
“Also signaled CDU/CSU should go into opposition.”
“Should have new government before Christmas.”
EUR/USD is closing in on the 1.1700 mark, gradually retreat from higher levels near 1.1730. The spot is currently seen at 1.1709, down 0.05% on the day, with the path of least resistance appearing to the downside.
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