Citing a story carried by Sueddeutsche Zeitung newspaper over the weekend, Reuters reports that Germany's ruling party Social Democrats (SPD) will propose further measures to help ease the impact of rising energy prices on citizens.

Key takeaways

“A third relief package would include a similar ticket but with a less heavily discounted price tag of 49 euros per month,” according to a party resolution paper.

“The paper also envisages direct payments for middle and low-income households, measures to protect tenants from evictions if they cannot pay their ancillary bills, and reforms to housing allowance to include heating costs.”

“The party will also propose a readjustment of the gas levy that will come into force in October so that energy companies making profits do not also benefit from it.”

Market reaction

The shared currency fails to find any comfort from the above headlines, as EUR/USD is challenging daily lows near 0.9950, down 0.13% so far.