Daily News | Electric cars taking the stage in Germany

This trading week is going along just nicely and the currency market is in full swing, which means there are plenty of smart trades to be made. We will help you by supplying you with the most pertinent data, which is why, this Tuesday we decided to focus on the euro. From Friday to Monday, the currency dropped from $1.2040 to $1.1961. In Germany, high profile automakers, such as Volkswagen and Mercedes-Benz, are rushing ahead with their plans to corner the global market on electric cars. VW was chiefly pushed by the dieselgate scandal, which showed that its cars gave off incorrect emission readings. The company has stated that it would rollout 80 new electric cars by 2025, while Mercedes-Benz vowed to offer electric versions of all its models by 2022. We will continue to monitor European markets, but let us check on the US dollar next. In the same period, the USD rose from €0.8305 to €0.8361. This happened as oil prices dropped over fears that Hurricane Irma would put a dent in oil demand by striking heavily populated areas of Florida, which would decrease demand. We will continue to keep you informed in the days to come, so be sure to stick with us.

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Author: Max Rothstein
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