Euro falls due to French political uncertainty, while tech stocks boost global shares

From Investing.com: 2024-12-02 02:35:36

The euro fell due to political uncertainty in France, while tech stocks boosted global shares. U.S. dollar strengthened as President-elect Trump warned BRICS nations against replacing the greenback. Federal Reserve’s policy decision and Trump’s impact are key drivers of market volatility this month. French government at risk of collapse, leading to potential euro weakness.

French far-right party likely to back no-confidence motion against government. Euro fell 0.57% to $1.05155, French stock index futures down 1.4%. If French government falls, euro could face further pressure. Federal Reserve closely watched ahead of Dec. 18 rate decision. Traders put 66% odds on quarter-point reduction.

Chinese shares rose on strong private manufacturing survey. Hong Kong’s Hang Seng up 0.16%, China blue chips up 0.6%. U.S. indices hit all-time highs in holiday-shortened session. Yen weakened to 150.31, near six-week low. Ether at near six-month high, gold sank 1% to $2,627.71.

Oil prices up after Chinese data, Israel-Lebanon tensions. WTI futures up 0.8% at $72.41, Brent up 0.87% at $68.59. Gold under pressure from strong dollar, worst monthly performance since 2023. Euro weakens on French political uncertainty, tech stocks lift global shares. Fed decision, Trump’s impact key market drivers.



Read more at Investing.com: Euro slides, pressured by French political uncertainty By Reuters