Psychology for major markets December 3rd

EUR/USD – Testing the bottom of the recent range as concerns around the French government and budget mount. Declines likely if the government loses the vote of no confidence on Wednesday.

USD/JPY – Looks biased lower after the drop in US yields and stronger Japanese CPI, but progress likely to be slow ahead of the US employment report at the end of the week.

EUR/GBP – EUR/GBP dipped below 0.83 on EUR weakness related to uncertainty around French politics and budget, with more downside possible if French government loses vote of no confidence

AUD/USD – AUD/USD holding close to 0.65 having found support in the low 0.64s and should have upside scope if Chinse equities hold their own

Equities – S&P 500 remaining resilient despite a mild correction from the post-election rally. Tariff details and Fed stance will be key in the coming weeks