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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD extends slide on hawkish Powell comments, trades below 1.1250

EUR/USD holds lower ground after Fed directed bears to five-week low. Bearish MACD signals, clear downside break of two-month-old.Buyers remain cautious until refreshing the 2022 peak, 61.8% FE will challenge bears past 1.1185.

EUR/USD News

GBP/USD: 200-SMA, monthly support test bears post-Fed

GBP/USD battles key supports as sellers poke 1.3460 during early Thursday. The cable pair broke the 200-SMA following the US Federal Reserve’s (Fed) hawkish verdicts. However, clear trading beneath the same becomes necessary to convince the bears.

GBP/USD News

Gold: Bears take profits, bulls look to $1,830

Gold is virtually flat in Tokyo following market volatility overnight. Jerome Powell surprised markets with a hawkish pivot, commenting that the Fed could raise rates at every meeting if need be. The focus is on a significant correction back towards $1,830.

Gold News

Binance Coin price needs to reclaim $414 to avoid further losses

Binance Coin price must reclaim $414 as support in order for the bulls to target higher levels. BNB may be confronted with a stiff hurdle at the 50% retracement level at $504. However, if Binance Coin fails to slice above $414, the exchange token may drop lower toward the 200 three-day SMA.

Read more

FOMC tees up a rate hike for march

As was widely expected, the FOMC made no major policy changes at its meeting today. Specifically, the Committee unanimously agreed to keep its target range for the federal funds rate unchanged at 0.00% to 0.25%.

Read more

Forex MAJORS

Cryptocurrencies

Signatures