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EBC Daily Snapshot Jul 1, 2024

EBC Forex Snapshot 1 Jul 2024 The euro jumped on Monday after a convincing win by the French far right in the first round of parliamentary elections fell short of some expectations, leaving the final result dependent on party deals before next weekend. The RN could come to power through "cohabitation" with Macron and push a high-spending and euro-sceptic agenda though European financial markets breathed a sigh of relief for now. The rise in the euro sent the dollar a touch lower after data showing US inflation cooled in May. Market pricing now points to about a 63% chance of a Fed cut in September, according to the CME FedWatch tool. EBC Financial Market Forecast Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Economic Research Findings or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-07-01 10:24:13 (GMT)

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