Germany’s Merkel: 60 to 70% in Germany will become infected with coronavirus

Dhwani Mehta FXStreet

According to the German newspaper, Bild, Chancellor Angela Merkel said after the start of the parliamentary group meeting on Wednesday, 60 to 70 percent of people in Germany will become infected with the coronavirus.

At Corona we are facing a challenge that we have never had before. It really depends on us. (...) The main burden is borne by Jens Spahn. He does it really well. This is also an incentive for the near future. Because the crisis is of course not over yet,” she added.

Germany's Merkel: We don't need classic stimulus but liquidity to counter coronavirus impact

Meanwhile, Health Minister Jens Spahn pointed out that 80 percent of all infected people would get through the epidemic with almost no symptoms, the paper reported.

EUR/USD reaction

EUR/USD has regained the 1.1350 level in the last hour, as the US dollar bears remain relentless amid US economic stimulus disappointment and rising coronavirus fears.

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.

AUD/USD holds losses above 0.7100 amid risk aversion

AUD/USD is off the lows but remains in the red above 0.7100 in Friday's Asian trading. Broad risk-aversion amid US-Iran uncertainty, combined with weak Australian GDP data, weighs heavily on the higher-yielding Australian Dollar. All eyes now remain on the US NFP report for fresh impetus.

USD/JPY coiling up around 160.00 amid 'Yentervention' threats

USD/JPY sits glued near 160.00 in Asia on Friday, as the Japanese Yen remains supported by persistent 'Yentervention' threats by Japan's officials. However, the pair's downside remains capped by the Mideast tensions-led risk-off mood and the US Dollar's bullish consolidation.

Gold keeps testing 200-day SMA ahead of the key US NFP data

Gold is reversing a part of the previous rebound early Friday, back around the $4,450 level as markets trade with caution amid a deadlock in the Gulf conflict and ahead of the all-important US Nonfarm Payrolls data release.

RBI keeps repo rate unchanged in June: What 5.25% means for the Indian Rupee this week

The Reserve Bank of India decided to keep the repo rate unchanged at 5.25% after concluding the June monetary policy meeting on Friday. The decision aligned with the market expectations.

Nonfarm payrolls: Testing the limits of Fed policy patience

The upcoming nonfarm payrolls report for May will provide the final update on the US labor market before Kevin Warsh attends his first policy meeting as the new Fed Chair later this month.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.