Bad news weigh on the euro. | MarketTalk: What’s up today? | Swissquote

Show notes

December doesn’t arrive with chocolate and flowers to Europe. First, Stellantis CEO resigns on weaker sales and tumbling profits. Second, VW workers are expected to walk out as early as today, because their labour leaders couldn’t reach an agreement on how to reduce costs to prevent factory closures. And finally, the French political scene remains messy with the far-right party Marine Le Pen threatening to team up with the leftist and take down Michel Barnier’s government by Wednesday if he doesn’t come up with a less strict budget plan. The euro is under pressure this morning.
In Japan, the news are not brighter. Nissan’s CFO decided to step down as well and the Japanese manufacturing PMI fell to the lowest level since March. The news gives the USDJPY a good reason to rebound back above the 150 level this morning.
The downside pressure on euro and the yen is giving a boost to the US dollar early this week. The US dollar index is up and above the 106 this morning after retracing a part of its recent gains last week.
Attention will be on US jobs data and OPEC decision this week!
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