ACTV - Euro Sold After EU Parliament Elections And Macron's Gambit

2024-06-10 07:25:00 ET

Summary

• With mixed elements, the market took the US jobs data as relatively strong and took the dollar and US rates higher.
• The EU Parliament election has shaken up European politics, with the Belgium government collapsing and French President Macron calling a snap legislative election for the end of the month.
• The dollar is mostly firmer today against the G10 currencies and emerging market currencies.

Overview

With mixed elements, the market took the US jobs data as relatively strong and took the dollar ([[DXY]], [[USDOLLAR]]) and US rates higher. The EU Parliament election has shaken up European politics, with the Belgium government collapsing and French President Macron calling a snap legislative election for the end of the month. Holidays in China, Hong Kong, Taiwan, and Australia made for thinner Asia Pacific trading, but the euro was sold and has reached to one-month lows, slightly below $1.0740, in the European morning. The dollar is mostly firmer today against the G10 currencies and emerging market currencies. Ahead of Wednesday's US CPI and FOMC meeting, the greenback is likely to remain firm....

For further details see: