Political agenda in global markets

While the French parliamentary elections are being followed in European markets, US markets are also monitoring whether President Joe Biden will withdraw from the race. While the euro weakened slightly against the dollar with the French election results, stock indices started the week positively. The euro, which fell as low as 0.4 percent against the dollar at one point, limited its losses to 0.1 percent. Euro Stoxx 50 stock futures rose 0.2 percent. The MSCI Asia Pacific Index rose slightly, led by Taiwanese technology stocks. US stock futures are trading slightly negative. The Bloomberg Dollar Index is flat at 1,260 points. The US 10-year bond yield is up two basis points to 4.29 percent. This week, Fed Chair Jerome Powell's presentations to Congress on Tuesday and Wednesday will be followed.