Euro falls to a 17-month low as rumors of early elections in Spain increase concerns
智通财经2026/10/05 04:45Euro exchange rate falls to its lowest point in 17 months amid lingering political and economic concerns in France, and reports of a possible early election in Spain The euro has dropped to its lowest level since May 2025. According to sources, Spanish government officials are preparing for a possible early election, which has further exacerbated investor concerns over political and fiscal risks in Europe. During Asian trading hours, the euro/dollar exchange rate fell as much as 0.8%, reaching 1.1161. Traders revealed that Asian hedge funds sold euros against the dollar in the spot market, triggering additional sell-offs after reaching certain key option levels and amplifying this round of declines. Three people close to Spanish Prime Minister Pedro Sánchez disclosed that, after the ruling party’s heavy defeat in last week’s parliamentary elections, some cabinet ministers as well as senior figures in the government and the ruling Socialist Party believe that an early election is the best solution. As discussions are still confidential, these individuals requested anonymity. Before this news, concerns in the market were also rising over France's political stability and budget outlook. Homin Lee, Senior Macro Strategist at Lombard Odier Singapore Ltd., noted that current trends in the bond and foreign exchange markets clearly reflect investor anxiety about the continued decline in the stability of the French government and the gradual loosening of fiscal constraints ahead of the 2027 election.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BUZZ - Reports say the U.S. will provide $4.2 billion in nuclear energy loans, Vistra shares surge
October 5 – According to reports, the United States will provide a $4.2 billions loan to Vistra (link) to boost its nuclear power capacity. Following this news, shares of Vistra (VST.N) surged over 6%, closing at $148.48. According to a person familiar with the matter, Energy Secretary Chris Wright is expected to announce this loan on Monday at Vistra's nuclear power plant on the shores of Lake Erie in Ohio. Electricity demand in the U.S. has grown for the first time in decades, driven by artificial intelligence data centers, electrification of transportation, and cryptocurrency mining. President Donald Trump has set a goal to quadruple America's nuclear power generation capacity by 2050. This news was first reported by Bloomberg. Among 21 brokerages covering the stock, 20 rate it at “buy” or higher, with one “hold”; the median target price is $208.50, according to data compiled by LSEG. As of the previous trading session's close, the stock had fallen 13.21% year to date. (For the convenience of non-English speakers, Reuters automatically translates its reports into several languages. Automated translations may be inaccurate or lack context and are provided for reader convenience only. Reuters does not guarantee the accuracy of translated texts and accepts no liability for any damages or losses arising from use of automated translation.)
BP CEO Refuses to Disclose When Share Buybacks Will Resume
The CEO of BP (BP.US) declined to disclose when stock buybacks will resume.
BP CEO: Will Continue Debt Repayment with Additional Profits, No Increase in Spending
BP CEO: The company will continue to use additional profits to pay down debt and will not increase spending.
BP CEO says major expansion is not advisable before repairing the balance sheet
BP's CEO stated that it is too early to consider any major expansion moves beyond growth within the existing business portfolio until the balance sheet restoration is complete.
Crypto prices
More
