US dollar has recovered after opening in the negative on Monday.

The US Dollar (USD) is seeing markets begin to digest reports following the first round of French government elections, with various currencies fading from their initial positions on Monday. Marine Le Pen and her far-right party Rassemblement National (RN) have won decisively, but a stalemate is possible. None of the three major parties—Marine Le Pen’s far-right Rassemblement National, Emmanuel Macron’s center Ensemble Citoyens, and Jean-Luc Mélenchon’s far-left Nouveau Front According to the most recent polls, Populaire has achieved its predicted outcomes. According to the most recent polls released on Friday, both the far left and far right parties have achieved less positive results. But Macron’s party was able to salvage the situation somewhat, finishing third implying. That no one has a majority and a deadlock is possible.

A fairly full US economic calendar awaits, with the US Jobs Report serving as dessert.

On the US economic calendar, US traders will have little time to process the French election news. As the Institute for Supply Management prepares to release its June manufacturing numbers on Monday. In addition, the European Central Bank (ECB) is having its European Jackson Hole counterpart. With its annual symposium in Sintra, Portugal. Many remarks and interviews are expected from central bank members from around the world.

Daily Market Movers: Final readings ahead.The US Dollar Index falls to the mid-105.00 mark.

The annual three-day European Central Bank Symposium begins in Sintra, Portugal, and runs until Wednesday. Christine Lagarde, president of the European Central Bank, will give a speech and make introductory remarks. More headlines are expected during the next three days, as various central bankers and policymakers are scheduled to be interviewed and remark.
S&P Global will announce the final data of the June Purchasing Managers Index (PMI) for the Manufacturing sector at 13:45 GMT. The previous value was 51.7, with no changes expected.
At 14:00 GMT, the Institute for Supply Management will release the June PMI Index:
Manufacturing PMI is expected to rise to 49 from 48.7.
The New Orders Index stood at 45.4 in May, with no expected for June.
The Employment Index was originally set at 51.1, with no consensus view available.
The Prices Paid Index is expected to drop to 55.9 from 57.

Equities are roaring and soaring higher as the French election impasse continues until next week’s polling.

Equities are roaring and soaring higher as the French election impasse continues until next week’s polling. Certainly, all European indices are up more than 1%, and US market futures are benefiting from the good spillover effect.
Despite recent comments by Federal Reserve (Fed) officials, the CME Fedwatch Tool is largely supportive of a rate cut in September. The current odds for a 25-basis-point decrease are 57.8%. A rate standstill is 35.7% likely, while a 50-basis-point rate drop is a remote 6.5% likelihood.
The US 10-year benchmark rate trades at around 4.44% which is fresh high for this Monday.