EUR: French headaches remain – ING
|Unless major USD-negative news comes from the US (macro or tariffs), we doubt the euro will stage any idiosyncratic rebound before getting any clarity on French politics, ING's FX analyst Francesco Pesole notes.
ZEW survey is unlikely to trigger much Euro reaction
"Today, PM Lecornu is set to speak to parliament before announcing his budget proposal tomorrow, which will ultimately determine his chances of surviving a no-confidence vote, which is expected for Thursday."
"Another government collapse this week will likely make the euro miss out on any benefits from further escalation in the US-China trade spat. And should the tariff story de-escalate, EUR/USD would likely set its eyes on 1.150."
"Elsewhere in the euro area, the ZEW survey out of Germany is expected to show some improvement in both the 'expectations' and 'current situation' metrics today. That is however unlikely to trigger much euro reaction at this stage."
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