Euro rises in early Asian trade after German conservatives win election

Various news sources have extensive coverage of the outcome of Germany's Federal election.

This is a summary, in very brief:

• CDU/CSU secures 28.7% of votes, with far-right AfD at 19.8%, per ZDF projection.
• Markets await coalition formation to gauge fiscal reform prospects.
• Market-friendly coalitions possible, including CDU-SPD-Greens.
• AfD's weaker-than-expected result.
• Key focus on Germany’s "debt brake", blamed for economic stagnation.
• Limited scope for reform seen, but rising defence spending pressures expectations.
• Election result impacts European defence funding outlook.
• Debt brake reform could boost euro and eurozone stocks.
• FDP’s uncertain parliamentary entry may affect coalition talks.
• Outcome determines whether CDU-SPD coalition suffices or Greens/FDP needed.
• Coalition negotiations could delay reforms and add market uncertainty.

EUR/USD is up a little on the result, hopes up for better economic prospects.