Market Recap – SPD elections

On Saturday, it would be worth watching the leadership elections of the SPD party. The German Social-democrats, that are currently supporting a coalition government with the conservative party of Angela Merkel, could either choose Olaf Scholz, or the Nober Walter Borjans and Saskia Esken duo that is asking for more government spending. An aggressive, German, fiscal expansion would help the European economy and the EUR. Yet, another rather pessimistic way to interpret this election, is that the second choice risks the viability of the current government and could potentially lead to snap elections.

Yesterday financial markets have been calm, due to Thangsgiving. The focus now turns to next week’s NATO summit in London, and next week’s monetary meetings of the RBA (Australia)  and the BOC (Canada)

Macro releases: The Canadian GDP, the EU unemployment and the EU inflation are the important readings of the day. Full economic calendar can be found here.


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