| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | Switzerland | SECO Consumer Climate | May | -38.1 | -37 | -38.0 |
EUR fell against other major currencies in the European session on Monday as investors responded to the news that Emmanuel Macron, the president of France - the Eurozone's second-biggest economy - decided to call a snap parliamentary election after his party lost to Marine Le Pen’s far-right National Rally (RN) party in European Parliament elections on Sunday.
Macron’s unexpected decision raised worries about political uncertainty in France if the NR party wins a majority. The first round of parliamentary elections is to be held on June 30.
Overall, the voting results revealed an increase of support for far-right parties across the European Union’s largest member states. This tendency added to concerns about the block’s future direction.
Worrisome news from France overshadowed sentix's favourable report, which showed investors' confidence in the euro area continued to recover in June. The sentix economic index for the region rose to 0.3 points in June from -3.6 in May. This was the eighth increase in the headline index in a row and marked the first time it left the negative territory since February 2022. Economists had anticipated the indicator to rise to -1.8 in June.