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Euro and BTC in focus
French Turmoil: A no-confidence vote deepened France’s crisis, risking legislative gridlock and budget challenges
Euro Slips: The euro stayed weak, up 0.18% at $1.052775, near a two-year low, as France's government collapse raised stability concerns.
Bitcoin Surge: BTC hit $103,619, up 4% at $102,162, with YTD gains at 140%, fueled by expectations of crypto-friendly U.S. policies.
Oil Steady: Brent rose 0.07% to $72.36; WTI added 0.09% to $68.60 as markets awaited OPEC+ supply decisions.
Currencies
The euro remained under pressure on Thursday after the widely anticipated collapse of the French government, raising concerns over the stability of the region's second-largest economy.
Despite edging up 0.18% to $1.052775, the euro remained near its two-year low of $1.03315, recorded at the end of November, as traders prepared for potential prolonged instability in France. The political turmoil deepened after French lawmakers passed a no-confidence vote against the government on Wednesday, as expected, plunging the country into a crisis that could hinder its ability to legislate and address its substantial budget deficit.
Cryptocurrencies
Meanwhile, Bitcoin continued its meteoric rise, fueled by expectations of a favorable regulatory environment under Donald Trump's presidency.
The world’s leading cryptocurrency surged to a record high of $103,619 during Asian trading hours and was last up over 4% at $102,162, bringing its impressive year-to-date gains to 140%.
Commodities
Oil prices held steady on Thursday as markets awaited the outcome of an OPEC+ meeting, with investors closely watching for potential changes to supply cuts amid ongoing geopolitical tensions in the Middle East.
The modest recovery followed a nearly 2% drop in both benchmarks on Wednesday.
The decline was attributed to a single large-scale sale of U.S. oil futures by a bank during early afternoon trading, according to a source with direct knowledge of the matter. This substantial volume of trades temporarily pressured prices downward.
Brent crude edged higher 0.07%, to $72.36 a barrel, while WTI gained 6 cents, or 0.09%, to $68.60 a barrel.
