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Merkel’s party chooses new leader ahead of German election
AP News reports that Chancellor Angela Merkel’s center-right party is choosing a new leader this weekend, a decision that will help shape German voters’ choice of a successor to Merkel at the helm of the European Union’s biggest economy after her 16-year reign.
Merkel, now 66, has steered Germany, and Europe, through a series of crises since she took office in 2005. But she said over two years ago that she won’t seek a fifth term as chancellor.
Now her Christian Democratic Union party is seeking its second new leader since she quit that role in 2018. That person will either run for chancellor in Germany’s Sept. 26 election or have a big say in who does run.
Current leader Annegret Kramp-Karrenbauer announced her resignation last February after failing to impose her authority on the party. A decision on her successor was delayed repeatedly by the coronavirus pandemic. Eventually, the CDU decided to hold an online convention this weekend.
Keep up with latest Forex market news updates: Currencies, central banks, economic indicators for oil and gold trading – all you need to work effectively on Forex.
Market focus
- U.S. retail sales unexpectedly decline in December
- U.S. consumer sentiment index decreases more than anticipated in early January
- Key events for next week: China GDP, eurozone ZEW Economic Sentiment index, UK, Canada and New Zealand CPI, Bank of Canada, ECB and Bank of Japan interest rate decisions, Australian unemployment rate, Eurozone, UK and US PMIs
- U.S. industrial production grows much more than forecast in December
Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.
| Session | Financial Centres | UTC/GMT OpenClose |
EET OpenClose |
Local Time OpenClose |
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|---|---|---|---|---|---|---|---|
| Pacific | Wellington | 19:00 | 04:00 | 22:00 | 07:00 | 22:00 | 07:00 |
| Session | Financial Centres | UTC/GMT OpenClose |
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Local Time OpenClose |
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| Pacific | Sydney | 21:00 | 06:00 | 00:00 | 09:00 | 00:00 | 09:00 |
| Session | Financial Centres | UTC/GMT OpenClose |
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Local Time OpenClose |
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| Asian | Tokyo | 23:00 | 08:00 | 02:00 | 11:00 | 02:00 | 11:00 |
| Session | Financial Centres | UTC/GMT OpenClose |
EET OpenClose |
Local Time OpenClose |
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| Asian | Hong Kong, Singapore | 00:00 | 09:00 | 03:00 | 12:00 | 03:00 | 12:00 |
| Session | Financial Centres | UTC/GMT OpenClose |
EET OpenClose |
Local Time OpenClose |
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| European | 06:00 | 15:00 | 09:00 | 18:00 | 9:00 | 18:00 | |
| Session | Financial Centres | UTC/GMT OpenClose |
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Local Time OpenCloseе |
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| European | London | 07:00 | 16:00 | 10:00 | 19:00 | 10:00 | 19:00 |
| Session | Financial Centres | UTC/GMT OpenClose |
EET OpenClose |
Local Time OpenClose |
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| American | New York | 12:00 | 21:00 | 15:00 | 00:00 | 15:00 | 00:00 |
| Session | Financial Centres | UTC/GMT OpenClose |
EET OpenClose |
Local Time OpenClose |
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| American | Chicago | 13:00 | 22:00 | 16:00 | 01:00 | 16:00 | 01:00 |
