Euro at 17-month low amid Spain, France and rate jitters
Euro falls to 17-month low as Spain's political uncertainty adds to French fiscal concerns and higher ECB rates weigh on markets.
Euro falls to 17-month low as Spain's political uncertainty adds to French fiscal concerns and higher ECB rates weigh on markets.
Sentix investor confidence for the euro zone fell to 2.7 in October from 5.1, missing forecasts, as expectations dropped 5 points.
Bitcoin ended Friday lower despite a soft NFP report, then recovered over the weekend. Focus remains on US-Iran talks.
ECB's Nagel signals patience on October but leaves door open for a December rate hike.
Eurozone private sector activity hit a 41-month high in September while price pressures intensified further.
European stocks dipped at the open as France's CAC 40 fell 0.9% on budget worries, while bond yields stayed elevated.
Preview of key economic data and central bank events for the week of October 5th-9th.
No significant FX option expiries are near spot levels, leaving trading focused on macro factors and persistently high bond yields after a soft US jobs report.
Gold struggles near $4,140 as bond yields stay high, offsetting a soft US jobs report.
Despite a softer US jobs report, bond yields rebounded quickly, remaining the main market pressure point as traders eye inflation data and fiscal policy.
US 10-year yields above 5% and interest costs over $1 trillion, but 8.5% growth still outruns the 3.4% average debt rate, delaying a debt spiral.
Dollar strengthened, crude slipped, and Japan's Nikkei hit a three-month high; Fed minutes are due on Wednesday.
Japanese officials intensified calls for yen strength and policy tightening, but USD/JPY remained near 158, supported by US yields and safe-haven demand.
The Fed's September minutes, out Wednesday, will show the committee's conviction on another 2026 hike after softer data.
Deutsche Bank's Daniel Ghali says gold is oversold and underowned, cites central bank buying, and advises buying at the LBMA conference.