EUR/GBP edges lower as France confidence vote puts Euro under pressure
The post EUR/GBP edges lower as France confidence vote puts Euro under pressure appeared on BitcoinEthereumNews.com. EUR/GBP trades subdued above 0.8660 as markets await France’s confidence vote later on Monday. French PM Bayrou faces likely defeat on €44 billion austerity plan, raising political risk. Eurozone sentiment weakens with the Sentix index plunging to -9.2 in September. The Euro (EUR) is trading under pressure against the British Pound (GBP) on Monday, with EUR/GBP hovering above 0.8660 at the time of writing. The cross remains subdued as traders adopt a wait-and-see stance ahead of a crucial confidence vote in France later on the day. France faces a critical vote of confidence for Prime Minister François Bayrou, who leads a minority government with no stable majority in the National Assembly. The vote is set to take place later on Monday, around 17:00 GMT, following a debate that begins at 13:00 GMT. It comes after Bayrou outlined a fiscal plan in late August aimed at curbing public debt through €44 billion in spending cuts, along with freezes on benefits and public holidays. Opposition parties from both the far-left and far-right have already committed to voting the government down, making Bayrou’s defeat likely. If he loses, President Macron must form a new government from the same divided parliament or consider calling new legislative elections, adding fuel to political uncertainty in the Eurozone’s second-largest economy. Adding to the cautious tone, the latest Sentix Investor Confidence survey showed sentiment across the Eurozone slumping in September. The headline index fell sharply to -9.2 from -3.7 in August, its lowest since April. Both the current situation and expectations components weakened, reflecting mounting concerns over growth prospects across the bloc. Looking ahead, attention will shift to Thursday’s European Central Bank (ECB) policy decision. The ECB is expected to leave interest rates unchanged at 2%, extending its pause after a year-long easing cycle. Recent data showing Eurozone…
The post EUR/GBP edges lower as France confidence vote puts Euro under pressure appeared on BitcoinEthereumNews.com.
EUR/GBP trades subdued above 0.8660 as markets await France’s confidence vote later on Monday. French PM Bayrou faces likely defeat on €44 billion austerity plan, raising political risk. Eurozone sentiment weakens with the Sentix index plunging to -9.2 in September. The Euro (EUR) is trading under pressure against the British Pound (GBP) on Monday, with EUR/GBP hovering above 0.8660 at the time of writing. The cross remains subdued as traders adopt a wait-and-see stance ahead of a crucial confidence vote in France later on the day. France faces a critical vote of confidence for Prime Minister François Bayrou, who leads a minority government with no stable majority in the National Assembly. The vote is set to take place later on Monday, around 17:00 GMT, following a debate that begins at 13:00 GMT. It comes after Bayrou outlined a fiscal plan in late August aimed at curbing public debt through €44 billion in spending cuts, along with freezes on benefits and public holidays. Opposition parties from both the far-left and far-right have already committed to voting the government down, making Bayrou’s defeat likely. If he loses, President Macron must form a new government from the same divided parliament or consider calling new legislative elections, adding fuel to political uncertainty in the Eurozone’s second-largest economy. Adding to the cautious tone, the latest Sentix Investor Confidence survey showed sentiment across the Eurozone slumping in September. The headline index fell sharply to -9.2 from -3.7 in August, its lowest since April. Both the current situation and expectations components weakened, reflecting mounting concerns over growth prospects across the bloc. Looking ahead, attention will shift to Thursday’s European Central Bank (ECB) policy decision. The ECB is expected to leave interest rates unchanged at 2%, extending its pause after a year-long easing cycle. Recent data showing Eurozone…
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