The Euro found itself under renewed selling pressure during trading on Monday following reports of former Prime Minister Alain Juppe confirming that he was not ready to run in the French presidential election. Markets simply acknowledged this fresh development as potentially heightening the chances of Marine Le Pen winning the elections which consequently exposed the Euro to further downside losses on Tuesday. Sentiment remains firmly bearish towards the Euro moving forward and the growing threat of a possible "Frexit" challenging the future of the European Union should limit future gains.
LONDON: A currency devaluation may do little to fix Nigeria’s problems unless it follows the examples of emerging market peers Egypt, Argentina and Russia and embraces floating exchange rates.
BERLIN – Now that Germany’s current-account surplus has reached a record €270 billion ($285 billion), or close to 8.7% of GDP, the ongoing debate about its economic model has intensified. Eurozone politicians and Donald Trump’s administration in the United States are each blaming the other for the economic imbalance; and all are blaming the euro.
Next trading day's important events
- USDJPY: 114.12
- EURUSD: 1.0563
- S&P 500: 2370.90
- NASDAQ: 5841.85