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The Cac 40 index is a major underperformer in the European equity space on Monday, as investors and traders react to news that another French Prime Minister has been forced to resign, leaving the Eurozone’s second largest economy politically rudderless once again.

The Euro (EUR) trades on the back foot against the Swiss Franc (CHF) on Monday, with EUR/CHF briefly sliding to its lowest level since September 10.

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The Pound Sterling (GBP) trades 0.4% lower to near 1.3420 against the US Dollar (USD) during the European trading session on Monday.

EUR/JPY stabilizes around 175.70 on Monday, up 1.4% for the day, after reaching a record high of 176.25. The unexpected resignation of French Prime Minister Sébastien Lecornu, announced just hours after unveiling his new cabinet, shocked markets and weighed on the single currency.

The Euro (EUR) recovers modestly against the US Dollar (USD) on Monday, paring earlier losses after briefly hitting its lowest level in nearly two weeks. The pair climbs back above 1.1700 as the Greenback’s initial advance, driven by weakness in the Euro and the Japanese Yen (JPY), loses steam.

The Pound Sterling remains flat during the North American session as the government shutdown in the US reached its sixth day, which has kept financial markets trading blind without economic data.

The Pound Sterling (GBP) remains flat during the North American session on Monday as the US government shutdown reaches its sixth day, which has kept financial markets trading blind due to the lack of economic data. GBP/USD trades at around 1.3474, virtually unchanged.

The British Pound (GBP) strengthens against the Japanese Yen (JPY) on Monday, opening the week with a sharp gap higher as the Yen weakens following Japan’s political transition.

Australian consumer sentiment dropped -3.5% mom to 92.1 in October, according to the Westpac-Melbourne Institute survey, erasing all gains seen between May and August when rate cuts briefly lifted confidence. The index has returned to “firmly pessimistic” territory, signaling renewed caution among households. Westpac said consumers were unsettled by recent inflation updates, with partial indicators […]

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