Citing unnamed government sources on Saturday, Reuters reported that the German Finance Minister Olaf Scholz reportedly said the debt ceiling will be raised to include a supplementary government budget of EUR156 billion (bln). The sources said that the government’s stimulus package will include EUR100 bln for economic stability fund, EUR 100 bln in credit to the development bank, KFW, for loans to businesses. Further, there will be EUR400bn in loan guarantees, totaling up the package toEUR750 bln. With the new stimulus package, Germany will defy its fiscal rulebook, as the government seeks to support and stabilize the market in fighting the coronavirus pandemic. EUR/USD reaction The shared currency could be offered some reprieve by the fiscal stimulus measures likely to be announced, reviving the recovery in EUR/USD from the lowest levels since April 2017 reached on Friday at 1.0638. Meanwhile, the greenback could meet further supply across its main competitors, as the Fed continues with its operation to ensure enough liquidity in the system. The funding stress in the market sent the US dollar index to over three-year highs of 102.99 last week. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next WH Eco. Adviser Kudlow: Stimulus package under negotiation to be around $2 tln FX Street 2 years Citing unnamed government sources on Saturday, Reuters reported that the German Finance Minister Olaf Scholz reportedly said the debt ceiling will be raised to include a supplementary government budget of EUR156 billion (bln). The sources said that the government's stimulus package will include EUR100 bln for economic stability fund, EUR 100 bln in credit to the development bank, KFW, for loans to businesses. Further, there will be EUR400bn in loan guarantees, totaling up the package toEUR750 bln. With the new stimulus package, Germany will defy its fiscal rulebook, as the government seeks to support and stabilize the market in fighting… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
