Markets Roll Over After German Finance Minister Says There Should Be Less Liquidity

wolfgang Schauble germany bundestag

In an interview with German business news weekly Wirtschaftswoche, German finance minister Wolfgang Schäuble said the ECB should reduce liquidity in the euro area because there is “too much money” in the market.

The euro spiked on the news against the U.S. dollar, but the comments also seem to have taken S&P 500 futures lower a bit as well.

The euro hit a high of 1.3116 following the news from levels around 1.3085 before the Schäuble comments hit the tape. Now, it’s trading around 1.3091.

S&P 500 futures fell from 1544 to 1541 and are currently trading at 1541.5, up 0.5% on the day.

Gold has fallen about $7 an ounce as well since then and is currently trading around $1403, up 0.75% from yesterday.

Oil is rolling over as well, currently trading at $88.15, up 0.5%.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.