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23 Sep 2013
Merkel wins German election, arduous coalition talks ahead...
FXstreet.com (Barcelona) - Asian traders bought up the Euro through interbank trading, following early evidence of what later was confirmed as the best result for Merkel's conservative party in a general election since 1990, with the Chancellor receiving around 42% of all votes to keep her post as one of the most powerful women on the globe for a third term.
Despite the early enthusiasm, the excitement faded pretty quick, with traders deciding to be sidelined as Merkel still faces a tough road ahead, now having to engage on coalition negotiation to form a government - a process which may take weeks if not months - after Mekel's CDU fell very short from claiming an absolute majority.
As the quiet Asian session advanced, and with the Tokyo market closed due to public holidays, the only relevant headline to outline was the Chinese HSBC PMI, which came at a 6-month high, supporting the Australian Dollar across the board.
On the commodity arena, metals were hammered yet again, following Fed's Bullard comments on Friday, which triggered the 'taper trade' again, after saying that the October FOMC meeting was still 'live' in terms of tapering.
Main headlines in Asia
Merkel emerges victorious, bumpy road lies ahead...
Merkel needs coalition talks, what does it mean for the Euro?
Merkel to seek 'grand coalition' with SPD
Red Asian Monday for metals
China's HSBC PMI at 6-month high, growth rebound continues
China rises on giant’s PMI but mixed Asian equities
Despite the early enthusiasm, the excitement faded pretty quick, with traders deciding to be sidelined as Merkel still faces a tough road ahead, now having to engage on coalition negotiation to form a government - a process which may take weeks if not months - after Mekel's CDU fell very short from claiming an absolute majority.
As the quiet Asian session advanced, and with the Tokyo market closed due to public holidays, the only relevant headline to outline was the Chinese HSBC PMI, which came at a 6-month high, supporting the Australian Dollar across the board.
On the commodity arena, metals were hammered yet again, following Fed's Bullard comments on Friday, which triggered the 'taper trade' again, after saying that the October FOMC meeting was still 'live' in terms of tapering.
Main headlines in Asia
Merkel emerges victorious, bumpy road lies ahead...
Merkel needs coalition talks, what does it mean for the Euro?
Merkel to seek 'grand coalition' with SPD
Red Asian Monday for metals
China's HSBC PMI at 6-month high, growth rebound continues
China rises on giant’s PMI but mixed Asian equities