ADIV - Sigh Of Relief Lifts French Markets Euro Jumps To Highest Level Since Mid-June
2024-07-01 07:25:00 ET
Summary
- French stocks have rallied around 1.4% and the French 10-year premium over Germany has narrowed by about five basis points.
- The yen remains soft after the Tankan survey showed little change but an uptick in capex plans.
- The euro reached $1.0775, its best level since June 13.
Overview
The market feels a bit more at ease after the first round of the French elections, as it seems that extreme policies will be avoided by an effort to deny the National Rally a legislative majority. French stocks have recouped some of their recent losses, and the euro reached $1.0775, its best level since June 13. The yen remains soft after the Tankan survey showed little change but an uptick in capex plans. Outside of the yen and Swiss franc, the dollar ([[DXY]], [[USDOLLAR]]) is trading with a mostly softer bias. A handful of emerging market currencies are weaker today, including the Mexican peso. Central European currencies, though, a firmer in the wake of the euro's gains, but the South African rand is leading the emerging market currencies with nearly a 1% gain as a new government is falling into place....
Sigh Of Relief Lifts French Markets, Euro Jumps To Highest Level Since Mid-June