Germany’s Merkel ready to give up special lockdown powers as covid ebbs – Bloomberg

FX

Bloomberg came out with the news quoting German Chancellor Angela Merkel while conveying the receding fears of the coronavirus (COVID-19) in Europe’s key economy.

“In a move that effectively suspended states’ rights, Germany passed mandatory restrictions in hard-hit areas, including curfews in April.” The news said.

It was further added that the powers were set to expire at the end of June, and Merkel confirmed that those ‘can run out now.’

The report also conveyed the latest covid figures while saying, “On Monday, Germany had 35.1 cases per 100,000 people over the past seven days, the lowest level since mid-October. As of Sunday, 43% of the population had received at least one inoculation against Covid-19.”

Market implications

The news helps EUR/USD bulls to keep the reins while also favoring the recently upbeat market sentiment. That said, S&P 500 Futures prints 0.10% intraday gains by the press time after German bunds fell 0.5 basis points to -0.189%.

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