Germany's Scholz to run for SPD leadership

Eren Sengezer FXStreet

Citing a spokeswoman for the Social Democrats (SPD), Reuters reported that German Finance Minister Olaf Scholz has announced his intention to run for the leadership of his centre-left party.

There seems to be no market reaction to this announcement. As of writing, the EUR/USD pair was trading at its lowest level since August 1 at 1.1078, losing 0.25% on a daily basis. If the pair fails to rebound above the 1.11 mark by the end of the day, it will post its lowest weekly close since April 2017.

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.

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