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EUR/USD Rises Above 1.0450 After German Conservatives Win

The EUR/USD pair rose by 0.18% to 1.0480 during Monday’s early Asian session. This upward movement was influenced by the weaker-than-expected US February PMI data and the results of the German elections, where the conservatives secured victory and the AfD party unexpectedly claimed second place.

The EUR/USD pair saw buying interest around 1.0480 early in the Asian session on Monday, with the Euro rising as Germany’s conservatives secured an expected election victory. Exit polls indicated that the CDU/CSU, led by Friedrich Merz, won the largest vote share, positioning Merz as the likely next chancellor. Focus has now shifted to the timeline for forming a coalition government and implementing reforms to address the struggling economy.

The US Dollar weakened due to lackluster economic data, with the S&P Global Composite PMI falling to a 17-month low in February. While the Manufacturing PMI rose, the Services PMI declined, indicating a slowdown in the services sector.

Concerns about the US economy and potential tariff threats from President Trump weighed on global markets, which could potentially boost the US Dollar and create headwinds for the EUR/USD pair.

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.

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