Asia stocks stutter, euro rises after first round vote in France
SINGAPORE -Asian stocks were subdued on Monday as traders pondered the U.S rates outlook, while the euro rose after the first-round voting in France's shock snap election was won by the far-right, albeit with a smaller share than some polls had projected.
Exit polls showed Marine Le Pen's National Rally winning around 34% of the vote, comfortably ahead of leftist and centrist rivals but the chances of eurosceptic, anti-immigrant RN winning power next week will depend on the political dealmaking by its rivals over the coming days. The focus now shifts to next Sunday's runoff and will depend on how parties decide to join forces in each of the country's 577 constituencies for the second round, and could still result in a majority for RN.
A private sector survey on Mondayshowed China's manufacturing activity grew at the fastest pace in more than three years due to production gains, even as demand growth slowed. In the 12 months through May, the PCE price index increased 2.6% after advancing 2.7% in April. Last month's inflation readings were in line with economists' expectations. They remain above the Fed's 2% target for inflation.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia’s largest Web3 festival, Coinfest Asia, will features 150+ top Web3 speakersThe largest Web3 festival in Asia, Coinfest Asia, will soon be coming to Nuanu City, Bali, on 22-23 August 2024
Read more »
France vs. Poland highlights: France, Poland battle to draw in chaotic matchFrance and Poland battled to a draw each nation's final match of play in Group D at Euro 2024. Here are all the highlights!
Read more »
France's Kylian Mbappé suffers broken nose in France Euros debutFrance star Kylian Mbappé suffered a broken nose in France's 1-0 win over Austria at the European Championship in Germany on Monday.
Read more »
France 40 IG Client Sentiment: Our data shows traders are now net-short France 40 for the first time since Jun 13, 2024 11:00 GMT when France 40 traded near 7,716.10.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger France 40-bullish contrarian trading bias.
Read more »
France 40 IG Client Sentiment: Our data shows traders are now net-long France 40 for the first time since May 30, 2024 when France 40 traded near 7,969.00.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger France 40-bearish contrarian trading bias.
Read more »
Stock market today: Asia shares rise amid Bank of Japan focus after the Fed stands patAsian shares are mostly higher as investors turn their attention to what the Bank of Japan might decide on monetary policy later this week. Shares fell slightly Thursday in Tokyo and Shanghai, but rose in the rest of Asia. U.S.
Read more »