FRANCE: Second Censure Motion Against Lecornu Gov't Falls Well Short Of Majority
Oct-16 10:18
The second censure motion of the morning, submitted against the gov't of PM Sebastien Lecornu, has also (as expected) failed. Just 144 lawmakers voted in favour of the motion put forward by the far-right Rassemblement National and its allies, well short of the 289 votes required for removal and below the 273 that voted in favour of the first censure motion put forward by the far-left La France Insoumise.
- For further info on the situation, see MNI's previous bullets: 'FRANCE: Voting Underway In First Censure Motion Against Second Lecornu Gov't', 10:23BST and 'FRANCE: PM Lecornu Survives Censure Motion, 10:45BST'.
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SOFR: SFRU8/Z8 Steepener Flow
Sep-16 10:17
SFRU8/Z8 paper paid 4.5 on 4.2K
EUR: EURJPY could target the 2025 high
Sep-16 10:10
- The EUR continues to trade in strong territory, new fresh highs versus the JPY, SEK, CAD, AUD, NOK, and CHF.
- Aside from the EURUSD and the next resistance at 1.1829, it is worth keeping an eye on the development in the EURJPY chart.
- The next Obvious resistance is at the 2025 high of 173.97, also its highest print in just over a year, since July 2024.
LOOK AHEAD: US Retail Sales And Import Prices, Trump Departs For UK
Sep-16 10:09
US Data/Speaker Calendar (prior, estimate). All times ET
- 09/16 0830 Retail Sales Advance MoM (0.5%, 0.2%)
- 09/16 0830 Retail Sales Control Group MoM (0.5%, 0.4%)
- 09/16 0830 Import Price Index MoM (0.4%, -0.2%)
- 09/16 0830 Export Price Index MoM (0.1%, 0.1%)
- 09/16 0830 NY Fed Services (-11.7, -5.8)
- 09/16 0830 Trump departs the White House en route to London
- 09/16 0915 Industrial Prod (-0.1%, -0.1%)
- 09/16 0915 Cap Util (77.5%, 77.4%)
- 09/16 1000 NAHB housing index (32, 33)
- 09/16 1000 Business inventories (0.2%, 0.2%)
- 09/16 1550 Trump arrives in London
Source: Bloomberg, White House Pool, MNI
