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EUR/USD extends its losses for three straight consecutive days, down 0.32% as the US government shutdown extends, and the Federal Reserve’s last meeting minutes showed that officials remain cautious on inflation, despite easing policy. At the time of writing, the pair trades at 1.1622 after hitting a daily high of 1.1661. France political turmoil and German data push the Euro lower Euro’s weakness is mainly sponsored by the French political turmoil as the outgoing Prime Minister Sebastien Lecornu revealed there have been progress in negotiations with parliamentary groups and that President Macron could be able to name a new PM in 48 hours. Aside from this, the Fed minutes showed that policymakers were willing to cut rates further this year, but many expressed concerns over inflation. The minutes revealed that “Most participants observed that it was appropriate to move the target range for the federal funds rate toward a more neutral setting because they judged that downside risks to employment had increased.” Data-wise, the US economic docket remains absent but in Europe, German Industrial Production data plunged by 4.3% MoM stoking fears of recession in the largest economy of the bloc. Ahead this week, the Eurozone schedule will feature Germany’s Trade Balance, the European Central Bank last meeting minutes and a speech by its Chief Economist Philip Lane. In the US, Federal Reserve Chair Jerome Powell will cross the wires, followed by Governors Michelle Bowman, Michael Barr and Minneapolis Fed President Neel Kashkari. Daily digest market movers: EUR/USD tumbles on France political turmoil French Prime Minister Sébastien Lecornu said there is room for compromise in parliament, noting that an absolute majority in the National Assembly opposes a new dissolution. Lecornu informed President Emmanuel Macron that the likelihood of dissolution is diminishing and that current conditions should allow the appointment of…

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Filed under: News - @ October 8, 2025 10:29 pm