EUR traders – Commerzbank on the French election, Europe "appears gradually more fragile"

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ICYMI, French President Macron called a snap election just in time for the opening of Asian FX in super-ultra-thin liquidity on Monday:

  • Monday morning open levels – indicative forex prices – 10 June 2024
  • EU politics – French President Macron has called a snap election. EUR/USD a touch lower.
  • Projections have centrist parties retaining majority in the European Union parliament
  • ForexLive Asia-Pacific FX news wrap: EUR lower on EU politics

EUR/USD continued its dribble lower during Europe/UK/US trade but has managed some recviery. Movement has been small only though.

Commerzbank analysts on the events:

  • European unification “appears gradually more fragile”
  • “The euro suffers when the question arises as to whether a politically created transnational currency can survive in the long term if the political framework conditions change”
  • “So far, the rampant euro skepticism has not caused any significant damage to the euro. However, the risk that this will not remain the case increased yesterday. Only marginally, but to a visible extent”

EUR/USD update:

This article was written by Eamonn Sheridan at

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