The euro and Paris stock markets rose on expectations that the far-right would not win an outright majority in France.

He Euro Go ahead The Paris stock market rebounded Amid symptoms on Monday The French far-right will not win enough seats for an absolute majority In assembly elections.

The single currency has come under pressure in recent weeks due to fears that National Committee (RN) of Marine Le Pen Emerge with victory and push for big spending policies, which will put the country on a collision course European union.

However, opinion polls suggest that the party is on track to win the largest number of seats in the 577-member National Assembly. It’s unclear whether he can muster enough to take full control.

President Emmanuel Macron called for a “broad” coalition against the far-right in the second roundIt will take place when there is no first outright winner.

The euro rose to $1.0777 on Mondays, and some predict it could rise further as other parties scramble to curb RN’s gains.

He The CAC 40 rose more than 2% in ParisBefore falling to slightly less than 1.5%, meanwhile Frankfurt And London also rose.

Neil WilsonFinalto of the negotiating team, saysAnd “it seems very likely that there will be a divided Parliament.” “It may reduce the possibility of huge wasteful expenditure, but it doesn’t exactly help Rank the financial position of FranceIt’s already very fragile.”

He And insidewas its share Firm against the dollar After Personal Consumption Expenditure Index (PCE) — the Federal Reserve’s preferred measure of inflation — will fall further in May.

The data raised hopes again The Federal Reserve will cut interest rates this yearTraders meanwhile bet that the Bank of Japan will raise borrowing costs at its next meeting.

Traders are now awaiting the release of key non-farm payrolls later in the week.

“The door to a September cut remains open, but three wages and three (consumer price indices) should keep decision makers from getting too nervous ahead of the September meeting.” “It’s far from guaranteed.”

Operators are actively monitoring Evolution of Currency Markets After Japanese officials warned they were prepared to intervene to support the yen if it continues to weaken. The yen is below 161 against the dollar, hitting a 38-year low last week.

Asian stock markets were mostly up Following moderate gains on Wall Street on Friday, all three major indices struggled to hold on to early gains and ended slightly lower.

However, they are up a lot so far in 2024, with the S&P 500 gaining more than 14%.

Tokyo Rose, the Bank of Japan’s Tangan survey conducted among the country’s major producers, Business confidence rose for the first time in two quarters.

Shanghai, Seoul, Singapore, Taipei, Bombay, Jakarta and Wellington also rose, although Manila, Bangkok and Sydney fell.

Hong Kong is closed for a holiday.

There was little reaction to data showing Chinese factory activity shrank for a second straight month in June, highlighting weakness in the world’s second-largest economy ahead of a key political meeting this month.

(With information from AFP)