EU news monthly: October

Erste Bank Research Team Erste Bank

ANO party has won parliamentary elections in the Czech Republic. ANO received just under 35% of the vote, earning them 80 seats.

French President Emmanuel Macron has named Minister of Defence Sébastien LeCornu as France’s new prime minister. Howeever France's Prime Minister Sébastien Lecornu has resigned, less than a day after his cabinet was unveiled.

EU annual inflation was 2.4% in August 2025, stable compared to July. A year earlier, the rate was 2.4%.

In the second quarter of 2025, 54.0% of net electricity generated in the EU came from renewable energy sources, an increase from the 52.7% registered in the same quarter of 2024.

The share of full electric cars in 2024 was 16% for EU car imports and 12% for exports (1% and 0.8% in 2017). Plug-in hybrid cars represented 6% of car imports last year and 5% of car exports (0.6% and 1% in 2017), and the share of non-plug-in hybrid cars was 21% for imports and 11% for exports (6% and 0.4% in 2017).

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Erste Bank Research Team

Erste Bank

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EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.