Comments by German finance minister, Olaf Scholz
- Quick decisive steps needed to halt new wave of infections
- The dramatic increase in infections is very worrying
- Extra measures should be targeted, temporary and focused
- Ideally, they should be applied in such a manner nationwide
Well, we will have to wait and see what the meeting between Merkel and regional leaders on Wednesday will yield but a'lockdown light'n any form would be a blow to the German economic outlook in Q4 - even if the auto sector has been holding up.
Further Development
Analyzing the current trading chart of EUR/USD, I found that there is potential for the secoind downside leg to develop.
1-Day relative strength performance Finviz
Based on the graph above I found that on the top of the list we got Heating Oil and Lean Hogs today and on the bottom Lumber and VIX.
Key Levels:
Resistance: 1,1835
Support levels: 1,1790 and 1,1775
