TRENDING:

GBP/USD

XAU/USD

France’s Macron: From now on, a new era must start with new compromises

Lallalit Srijandorn FXStreet

French President Emmanuel Macron said on Thursday that he will name a new Prime Minister in the coming days whose top priority will be getting a 2025 budget adopted by parliament, per Reuter.

Key quotes

Says he will carry out his full mandate as President.
Says he will name a new Prime Minister within days.
Calls for snap elections this summer is a decision that political actors haven't understood.
Early next year, the new government will draft a new budget bill.
New budget will allow for needed investments.

Market reaction

At the time of writing, the EUR/USD pair is trading unchanged on the day to trade at 1.0583.

Euro FAQs

What is the Euro?

The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day, according to data from the Bank of International Settlements. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% of all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD trades around 1.1700 after rebounding from 50-day EMA

EUR/USD gains ground after three days of losses, trading around 1.1700 during the Asian hours on Wednesday. On the daily chart, technical analysis indicates a potential for a bearish bias; the 14-day Relative Strength Index at 47 confirms waning momentum.

GBP/USD consolidates around 1.3500; looks to US macro data for fresh impetus

The GBP/USD pair oscillates in a narrow range, around the 1.3500 psychological mark during the Asian session on Wednesday, and for now, seems to have stalled the previous day's retracement slide from its highest level since September 18. Moreover, the fundamental backdrop seems tilted in favor of bullish traders and suggests that the path of least resistance for spot prices is to the upside.

Gold sees profit-taking decline after facing rejection at $4,500

Gold price sees a decline on profit-taking after facing rejection at $4,500 in the Asian trading hours on Wednesday. Despite the pullback, the traditional safe haven remains underpinned by geopolitical tensions and expectations of Fed rate cuts. The US ADP Jobs data, JOLTS Job Openings Survey and ISM Services Purchasing Managers Index report will be published on Wednesday.

Pump.fun prepares for early-year rally as DEX volume skyrockets

Pump.fun (PUMP) is rising alongside crypto majors such as Bitcoin (BTC) and is trading above $0.002400 at the time of writing on Tuesday. The Decentralized Exchange (DEX) native token outlook builds on a bullish tone developed since December 30.

Implications of US intervention in Venezuela

Events in Venezuela are top of mind for market participants, and while developments are associated with an elevated degree of uncertainty, we are not making any changes to our markets or economic forecasts as a result of the deposition of Nicolás Maduro.

Cardano holds steady as bulls intensify push for breakout

Cardano rises above the 50-day EMA resistance amid a risk-on mood across the crypto market. The MACD upholds positive divergence, increasing the potential for a 20% breakout to $0.505.