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The US Dollar adds to Monday’s gains and sprints higher on negative European news. The Greenback jumps after rumors President Macron was considering to resign.  The US Dollar index trades just above 105.00 and flirts with nearby support levels. The US Dollar (USD) trades further up in the green, above 105.40 on Tuesday, and looks to be booking more gains on external drivers. With its gains from Monday, after French President Emmanuel Macron called for snap elections in June, the sting is being taken out of the event with Marine Le Pen, head of the Far Right movement in France, will not be running in those. Though the DXY rally received another spark with the headline that President Macron was not considering to resign, which markets now interpret as that he actually was considering to resign, additn to more Euro weakness and US Dollar strength.  On the economic front, the US Dollar index (DXY) moves alongside political news out of Europe ahead of Wednesday’s main events: the US Consumer Price Index for May and the Federal Reserve (Fed) interest rate decision. Before that, two very light data elements will find their way to the markets on Tuesday: the NFIB Business Optimism Index for May and the Redbook Index for the first week of June.  Daily digest market movers: Investors fleeing Europe Headline hitting the wires on Tuesday comes from France, where Marine Le Pen, head of the Far Right movement, said she will not be running in the upcoming snap elections at the end of June. This can be considered as a victory for current French President Emmanuel Macron as his government sees its odds of surviving these snap elections rising with Le Pen now backing down.  Around 10:00 GMT a strange headline emerged on all big news agencies from…

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Filed under: News - @ June 11, 2024 8:18 pm