The dollar pushed higher on Monday amid weakness in the euro and yen, as traders digested political tensions in France and a rebound in Treasury yields. The Bloomberg dollar index climbed as much as 0.5%, while the common currency and French bond futures slipped after far-right leader Marine Le Pen gave the strongest indication yet that she’s prepared to topple the government in Paris as soon as this week. Treasuries dipped as traders looked ahead to US data that may help shape Federal Reserve policy and digested hawkish comments from the Bank of Japan. The slew of global events gave the greenback further support, after the prospect of faster US inflation and trade tensions under Donald Trump had boosted the US currency in recent weeks. Traders were once again reminded of Trump’s focus on his America-first agenda after the US president-elect told BRICS nations not to create a currency to rival the greenback and repeated threats to levy a 100% tariff. Asian stocks rose, supported by signs of economic stabilization in China and a rally in tech shares. China’s 10-year yield dropped past the key psychological milestone of 2% and was at a record low, as traders ramped up wagers that authorities would ease monetary policy.
The euro slid as much as 0.5% after French Finance Minister Antoine Armand said on Sunday the country won’t accept artificial budget deadlines from Marine Le Pen. The French far-right leader has told the prime minister he needs to make tweaks to his 2025 budget by Monday, which is when opposition lawmakers are expected to initiate the process to call the vote of no-confidence. Oil rose along with Asian equities on signs of a slow recovery in China’s economy, as traders look to Thursday’s OPEC+ meeting for further direction. Gold fell as the dollar strengthened.
Nikkei +0.80% Hang Seng +0.37% CSI +0.60% Shanghai +0.95% Shenzen +1.55%
Eur$ 1.0527 CNH 7.2787 CNY 7.2675 JPY 150.50 GBP 1.2692 CHF 0.8844 RUB 106.5001 TRY 34.7225 WTI$ 68.52 +0.76% Gold 2,625 -0.69% BTC 96,290 -1.58% ETH 3,674 -0.92%
S&P -0.23% Nasdaq -0.22% EuroStoxx -0.93% FTSE -0.03% Dax -0.21% SMI +0.00% CAC
Macro :
- PBOC Injects $111 Billion of Liquidity as Bond Supply Surges
- China’s Factory Activity Expands in Sign of Slow Recovery
- Yen Gains to Day’s High Versus Dollar Following Ueda Remarks
- Spain Raised to A (High) by DBRS Morningstar, Trend Stable
- Spain Raised to A (High) by DBRS Morningstar, Trend Stable
- EU Approves ITA-Lufthansa Merger Remedies
- Bank of Portugal Sets Capital Buffer Requirements for Banks
- Nuclear Energy, Uranium Miners Rise on European Announcements
- US Bitcoin, Ether ETFs Log Record Inflow on Trump Crypto Embrace
Keep an eye on :
- AIR FP : Qantas Says First Airbus A321XLR to Be Delivered in April 2025
- ALO FP : Vietnam parliament approves $67 bn high-speed railway project
- AV/ LN : Goldman Switches Sides on Aviva Line Bid: Financials Wrap
- BA US : FAA Adopts Airworthiness Directives for Some Boeing 737 Planes
- BLK US : *BLACKROCK SAID TO NEAR DEAL FOR HPS AT VALUE OF $12B OR MORE
- BT/A LN : BT toughens policy on working in the office
- BWLPG NO : BW LPG 3Q Net Income Beats Estimates
- CTT PL : CTT Formalizes With Generali Tranquilidade Banco CTT Partnership
- EVC GY: Fnac Darty: Completion of the sale of 17% of France Billet by Fnac Darty to CTS Eventim
- DLG LN : Direct Line Boss Wants More Time to Fend Off Aviva: Sunday Times
- EZJ LN : EasyJet, IAG Can Take Routes After Lufthansa-ITA Deal, EU Says
- ENGI FP : Engie Gets Approval to Restart Doel 4 Nuclear Reactor in Belgium
- EEVIA SS : Eevia Health Gets Reverse Takeover Proposal From Stemtech
- ETL FP : Eutelsat Group Exercises Its Put Option and Signs Share Purchase Agreement With EQT Infrastructure for the Sale of a Majority
- FNAC FP : Fnac Darty: Completion of the sale of 17% of France Billet by Fnac Darty to CTS Eventim
- FOSL US : Fossil’s CEO Fogliato Buys $359,159 of Shares
- GALP PL : Galp Says It Successfully Drilled Mopane-1A Appraisal Well
- HOLN SW : Holcim Sells Nigerian Unit to Huaxin Cement at $1 Billion Value
- ICAD FP : Icade Boosts FY Group Net Current Cash Flow per Share Forecast
- IMPN SW : Implenia Gets Construction Contracts Worth Over CHF160M in Total
- INPST NA : InPost Could Spend Over EU1b on Acquisitions, FT Cites CEO
- IPS FP : Ipsos Says in Talks on Potential Acquisition of Kantar Media
- LHA GY : EasyJet, IAG Can Take Routes After Lufthansa-ITA Deal, EU Says
- MC FP : Bulgari CEO Eyes India for Growth as China Luxury Demand Weakens
- MBG GY : Mercedes to Use Momenta Software in Some China Car Models: Rtrs
- META US : Meta Plans to Build $10b Subsea Cable: TechCrunch (Earlier)
- 7201 JP : Nissan CFO Set to Step Down as Carmaker Faces Raft of Challenges
- 7201 JP : Nissan CFO Set to Step Down as Carmaker Faces Raft of Challenges
- NKT DC : NKT Targets CAGR of >14% From 2021 to 2028 vs >12% Before
- 9532 JP : Japan’s Osaka Gas to Spend ¥100B in US to Make E-Methane: Nikkei
- PKTM AV : Pierer Mobility’s KTM Unit Files for Insolvency in Austria
- PRX NA : *PROSUS 1H CORE HEADLINE EPS CONT OPS $1.44 VS. 76C Y/Y
- CFR SW ; Richemont to revamp executive committee, open to sell unperforming - Miss Tweed
- 3382 JP : Seven & i Mulls Selling Non-Core Specialty Store Business: Kyodo
- STLA IM : Stellantis CEO Carlos Tavares Is Set to Step Down
- SF US : Stifel’s Swiss Equities Team Is Said to Be Joining Oddo BHF
- TELIA SS : Telia Sees Restructuring Charges of ~SEK1.3b vs SEK1.4b Before
- TTALO FH : Terveystalo Targets EPS Growth of 10% a Year on Average
- TIT IM : Italy, Asterion Bid for Tel. Italia’s Sparkle Delayed: Radiocor
- UCG IM : Italy Seeks Ways to Counter Unicredit’s Takeover Bid for BPM: FT
- UCG IM : Italy Says FT Story on Law to Block UniCredit-BPM Deal Unfounded
- VEON US : Veon Says Court Lifts Freeze of Corp Rights in Kyivstar
- VOW GY : VW Says Labor’s Proposals on Cost Cuts Don’t Go Far Enough
- WLN FP : Worldline Says Services Returning to Normal After Italy Outage