The euro under pressure

The euro remains under pressure amid political instability in Germany, with parliament approving Olaf Scholz's proposal for early elections in February. The euro is trading around $1.051, close to a two-year low of $1.03315, having lost almost 5% in 2024.

Germany's DAX performance

Despite problems in the economy, Germany's DAX is up 21% thanks to SAP shares. However, futures are pointing lower ahead of new economic data. This week, markets' attention is focused on central bank meetings, including the U.S. Federal Reserve, where a 0.25% rate cut is expected.