Europe: Germany to extend lockdown through February 14, Italian government set to survive vote

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German Chancellor Angela Merkel has agreed with state leaders to extend the nationwide lockdown through February 14. Europe’s largest economy has been struggling with a significant wave of coronavirus cases and deaths. 

In Italy, the eurozone’s third-largest economy is encountering a political crisis. The government survived a vote of no-confidence in the lower house and political analysts suggest that Prime Minister Giuseppe Conte has mustered enough support in the Senate. 

EUR/USD is trading around 1.2130, as markets are following the testimony of former Federal Reserve Chair Janet Yellen.

See Janet Yellen confirmation hearings for Treasury Secretary live stream

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