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Macron is set to appoint a new Prime Minister, which may provide a breathing room for the euro.
Jin10 data reported on October 9, the International Group of the Netherlands' Chris Turner stated in a report that the news of French President Macron potentially announcing a new Prime Minister could give the euro some breathing room. He noted that Macron is expected to appoint a new Prime Minister by Friday after Le Cournier resigned less than a month after being appointed on Monday. Turner believes, “This is a surprise for the market, which previously thought the next chapter in French political legend would only be new, fragmented elections.” He indicated that this news could help narrow the yield spread between German and French government bonds, which may provide support for the euro.