"The euro saw mixed performances against other major currencies. The currency could remain exposed to the political developments in France, while firm German wholesale price data provided some support. President Emmanuel Macron reappointed Sébastien Lecornu as prime minister late on Friday after his resignation. However, the move could leave investors cautious. In Germany, wholesale prices rose 1.2% year-on-year in September, accelerating from 0.7% in August and marking the tenth consecutive month of gains."
"The rebound, driven largely by food and agricultural commodities, reinforces the European Central Bank's case for keeping interest rates steady amid persistent inflationary pressures. Investors now turn their attention to Tuesday's ZEW economic sentiment surveys for Germany and the euro area, both expected to reach their highest levels since July. Stronger readings could bolster optimism over the regional outlook and extend the euro's recent gains."
The euro displayed mixed performance versus major currencies and remains vulnerable to political developments in France. President Emmanuel Macron reappointed Sébastien Lecornu as prime minister, a move that could prompt investor caution. German wholesale prices rose 1.2% year-on-year in September, up from 0.7% in August, marking the tenth consecutive monthly increase. The rebound was driven largely by food and agricultural commodities and strengthens the European Central Bank's rationale for keeping interest rates steady amid persistent inflationary pressures. Attention now turns to Tuesday's ZEW economic sentiment surveys for Germany and the euro area, with stronger readings potentially boosting regional optimism and further supporting the euro.
Read at London Business News | Londonlovesbusiness.com
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