Germany's Scholz: Situation is serious even if it doesn't feel that way to everyone yet

Eren Sengezer FXStreet

The coronavirus situation in Germany is serious even if it doesn't feel that way to everyone yet, German Finance Minister Olaf Scholz said on Thursday, as reported by Reuters.

Additional takeaways

"By offering targeted measures, we can offer huge support to those who really need it."

"We need to provide up to 10 billion euros in one month in financial support."

"It will remain difficult through the four months of winter."

"This financial support is on a level never seen before."

"Anybody asking how they will handle the coming period can be certain we will help them."

Market reaction

These comments failed to provide meaningful support to market sentiment. As of writing, Germany's DAX 30 Index was down 0.22% on the day at 11,535.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

AUD/USD bulls seem hesitant near 0.6950

AUD/USD attracts some buyers for the second straight day, though it remains confined within Friday's broader range amid mixed cues. The US PCE data and the US NFP report released last week tempered October Fed hike bets, dragging US bond yields away from multi-year highs and keeping US Dollar bulls on the back foot. However, geopolitical uncertainty is a tailwind for the safe-haven buck, while the RBA's cautious outlook caps the Aussie.

USD/JPY holds losses below 158.00 amid hawkish BoJ bets, firmer USD

USD/JPY holds losses below 158.00 in the Asian session on Monday, trading within a one-week-old range. The pair remains weighed down by hawkish BoJ expectations amid looming intervention risks that support the Japanese Yen, while geopolitical uncertainty continues to underpin the US Dollar, despite fading Fed rate hike hopes, limiting the pair's downside.

Gold trades with positive bias around $4,150; upside seems capped

Gold attracts some dip-buyers at the start of a new week, though it remains confined in a familiar range held over the past week or so. Against the backdrop of soft US PCE data, Friday's weak US NFP report tempered bets of an October Fed rate hike. This, in turn, drags US bond yields away from multi-year highs and benefits the non-yielding bullion. The US Dollar, however, draws support from geopolitical uncertainties and could act as a headwind for the precious metal.

Why the US Dollar keeps climbing despite weaker jobs data

The US Dollar’s (USD) rally remained everything but abated, climbing for the third consecutive week and reaching levels last seen in April 2025. The move higher came on the back of a mixed performance in US Treasury yields, extending their rally in the belly and long end of the curve while losing some momentum at the short end.

WTI drops to near $89.00 as G7 taps emergency reserves

West Texas Intermediate oil price extends its losses for the second successive day, trading around $89.30 during Asian hours on Monday. Crude oil prices experienced a decline after G7 nations agreed to release 100 million barrels of crude and diesel from emergency reserves, pledging to avoid energy export restrictions following pressure from US President Donald Trump.

The Euro is near a one-year low: Inflation could trigger its rebound, not its fall

EUR/USD has fallen to its lowest level since May 2025. The pair hit 1.1312 on Wednesday and trades well below the January peak of 1.2082. The decline reflects a powerful combination of US Dollar strength, geopolitical uncertainty and renewed concerns about Europe's exposure to higher energy prices.