A pinch and a punch, and a win for LePen
Monday 1st July 2024
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It\u2019s the first day of the third quarter. The unsurprising news from French exit-polls this morning shows a clear win for Le Pen\u2019s National Rally party, securing a third of the votes. NAB\u2019s Taylor Nugent says markets have already priced-in the outcome and there\u2019s been very little movement in early trade. Markets responded a little more to Biden\u2019s shaky debate performance on Friday. On the data front, the Core PCE Deflator, the fed\u2019s preferred inflation gauge, was good news \u2013 a little better than expected if you look at the second decimal place! Germany\u2019s CPI is out today and the Central Banking get-together kicks off in Portugal.
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