Germany's Merkel: We call on citizens to call off all non-essential travel

German Chancellor Angela Merkel noted on Wednesday that the country is in a "very serious" situation with regards to coronavirus and noted that the number of patients in intensive care units has doubled over past 10 days, per Reuters.

Additional takeaways

"Speed of the virus' spread is especially high and we are seeing exponential growth."

"Doubling times have got shorter."

"Our healthcare system can deal with current numbers but we will hit capacity in coming weeks if this rate continues."

"In many areas, we are no longer able to track and trace because of capacity limits."

"Curve must be flattened once again."

"We know that we must now reduce contacts once again."

"Federal and state governments have agreed on new lockdown measures from November 2."

"We will review in two weeks what effect new measures have had."

"These are very tough measures we have agreed on."

"These measures apply to the entire country."

"We want to keep schools and kindergartens open."

"We have reached a point where we can't say where 75% of cases comes from."

"Private meetings to be limited to max 10 people from max 2 households."

"We call on citizens to call off all non-essential travel."

"Hotels will be open only for essential, non-touristic purposes."

"Shops will remain open in new lockdown, with fewer than 1 person per 10 square metres."

"Bars and restaurants will close in renewed anti-COVID lockdown."

"We will provide economic support to affected businesses."

"Smaller companies will get 75% of income in support."

"We want to make sure older people in homes can receive visitors."

Market reaction

The EUR/USD pair edged slightly lower following these announcements and was last seen losing 0.4% on the day at 1.1749.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD losses 1.1900 amid dollar’s comeback

EUR/USD has extended its gains, nearing 1.1950, but quickly turned negative now trading around 1.1880. The greenback recovers as equities fall as the market’s sentiment turns sour.


GBP/USD retreats from daily highs, holds around 1.3350

GBP/USD retreats from near 1.3400, partially undermined by Brexit woes but mostly on renewed dollar’s demand. Doubts arise about Chief EU Negotiator Barnier traveling to London.


XAU/USD trades with modest gains above $1810 level, lacks follow-through

A softer tone surrounding the USD assisted gold to gain some traction on Thursday. COVID-19 vaccine optimism might cap the upside for the safe-haven precious metal. Holiday-thinned liquidity warrants some caution before placing fresh directional bets.

Gold news

US Thanksgiving Wrap: Consumers carry October, November starts to look dicey

A triple dose of US data on Wednesday before the Thanksgiving holiday confirmed the strength of the consumer recovery even as employment problems again loom from the rising numbers of Covid-19 closures across the country.

Read more

Black Friday 2020 Discounts!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info