The political situation in France drags down European stocks, with French stocks falling over 1%, the euro's decline widening, the dollar rising, and gold under pressure

As political tensions in France escalate, European stocks opened lower collectively, with French stocks dropping over 1% at the open, the euro's decline widening, and the dollar rising; U.S. Treasury yields rebounded, putting pressure on gold. On Monday, December 2, S&P Global reported that China's Caixin Manufacturing PMI rose to 51.5 in November, reaching a five-month high, with manufacturing sentiment improving for two consecutive months, and the extent of improvement being the most significant since June. Boosted by Chinese data, iron ore prices continued to rise. French far-right leader Marine Le Pen told AFP on Sunday that the French government has ended budget discussions and refused to amend the social security bill. This may pave the way for a no-confidence vote procedure as early as Wednesday to overthrow the government, leading to a decline in the euro. Currently, the market is awaiting the non-farm payroll data to be released on Friday for clues on the interest rate path for this month. European stocks opened lower collectively, with the Euro Stoxx 50 index down 0.87%, and the French CAC 40 index down 1.17%. The yield on French 10-year government bonds fell, currently reported at 2.891. The spread between French and German 10-year government bond yields widened by 4 basis points at the open, to 85 basis points. The euro continued its downward trend against the dollar, falling 0.8% during the day to 1.0496. The dollar index rose by as much as 0.5%, currently up 0.38%. Spot gold fluctuated downwards, once dropping over 1%, nearly erasing the cumulative gains of the previous four days, currently down 0.86% at $2627.13 per ounce. Iron ore futures rose. European stocks opened lower collectively, with the German DAX index down 0.12%, the UK FTSE 100 index down 0.01%, the French CAC 40 index down 1.17%, and the Euro Stoxx 50 index down 0.87%. The yield on French 10-year government bonds fell, currently reported at 2.891. The dollar index rose by as much as 0.5%, currently up 0.38%. The dollar rose, while non-dollar currencies fell. Spot gold fluctuated downwards, once dropping over 1%, nearly erasing the cumulative gains of the previous four days, currently down 0.86% at $2627.13 per ounce. Several analysts stated that gold prices face adjustment demand in the short term but remain optimistic about the long-term trend of gold prices Iron ore futures rose by 1.26%. Risk warning and disclaimer The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial conditions, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this is at your own risk