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French PM Barnier Toppled, CAC 40 Faces Key Resistance

France’s political turmoil creates economic and market uncertainty, with President Macron’s response critical to addressing budgetary challenges. The CAC 40 tests 7,364.2 resistance, with a breakout signaling further upside to 7,620.8, while rejection could lead to a pullback to 7,276.3 or lower.

DAX forecast dims amid fallout from EU elections

We have seen further widening of the bond yield spreads between German and French debt today. Investors are clearly worried about a sustained period of political uncertainty and are therefore seeking haven assets and reducing their risk exposure.

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June 11, 2024 03:30 PM

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