• +0.05% - closed +0.45% with the USD -0.45% on weak data, sliding UST yields

• Germany's Merz rules out quick reform of state "debt brake" debt limits

• Merz "We are talking to each other - I see it as difficult at the moment."

• Protracted German political negotiations will weigh on the economy and EUR

• Charts - positive 5, & 10-day moving averages, 21-day Bolli bands expand

• Daily momentum studies rise - the daily signals have turned positive

• The 1.0534 2025 top, then the 1.0630 December 2024 high are first resistance

• This week's 1.0453 low, then the Feb 19th 1.0401 low are first supports

• 1.0500 2.050BLN, 1.0515/30 6.267BLN close strikes for Feb 26th strikes
Andy

(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)