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EURUSD in retreat: Merz's success overshadowed by Trump-Putin talks

3:29 PM 18 March 2025

EUR/USD dropped below 1.09 despite Germany passing a new €546 billion fund for defense and infrastructure spending.

The success of Friedrich Merz's project paves the way for further easing of Germany's strict fiscal policy rules. After reaching a compromise with the German Greens, the bill was supported by 513 out of 733 Bundestag members, securing the required two-thirds majority to amend the constitution. The legislation will exempt defense spending from budgetary restrictions, allowing Germany to significantly boost its military capabilities.

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However, the event is overshadowed by uncertainty surrounding the ongoing Trump-Putin talks. Bloomberg, citing sources "close to the matter," reports that Vladimir Putin is demanding a halt to arms supplies to Ukraine. The suspension of U.S. aid is said to be a prerequisite for the Russian president to agree to a 30-day ceasefire.

 

 

Source: xStation5

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