Reuters is out with the latest headlines, citing that Germany’s Finance Minister Olaf Scholz has signed a coalition agreement to become the next chancellor.

The German parties are in talks to form a government plan, which will be announced at 3 pm local, I,e, 1400 GMT.

In response, Spanish Economy Minister Nadia Calvino said that Olaf Scholz becoming chancellor in Germany would be good news for Spain as he is a friend of the country.

Market reaction

At the press time, EUR/USD is trading almost unchanged on the day around 1.1250, awaiting the German IFO Survey for fresh impetus.