• The dollar rose on Monday, booking gains against the euro after a former French prime minister ruled out standing in the country's presidential elections, a development seen as likely boosting the chances of anti-European Union candidate Marine Le Pen.
• Alain Juppe, who served as France's prime minister from 1995 to 1997, announced earlier Monday he would not seek the country's presidency.
• The euro fell 0.35 percent to $1.0584 EUR=, dropping after news of Juppe's decision from a two-week high it touched against the dollar earlier in the day.
• Market unease over elections this year in France, Germany and the Netherlands has constrained the euro, despite improving economic readings across the euro zone, analysts said.
• "The election drama, as long as that continues it will continue to drive (the euro), to keep it subdued," said Juan Perez, currency strategist at Tempus Inc in Washington. "So instead of going to $1.07 because of good economic numbers, it stays between $1.05 and $1.06 because of that drama going on behind it."
• The dollar fell to 113.90 yen JPY=, retreating from Friday's two-week high of 114.74 yen. After retreating to a one-week low in early European trading, the dollar edged up 0.1 percent against a basket of world currencies .DXY to 101.66.
• New orders for U.S.-made goods increased for a second straight month in January, suggesting the recovery of the manufacturing sector was gaining momentum as rising prices for commodities spur demand for machinery.
• Benchmark Brent gained while U.S. crude eased slightly on Monday, after the market pushed higher early in the day on reports that Iraq would participate if OPEC extended oil production curbs into the second half of the year.
U.S. West Texas Intermediate crude settled down 13 cents at $53.20 a barrel. Brent crude settled up 11 cents at $56.01 a barrel.In a session driven by headlines, oil earlier strengthened slightly after Iraq's oil minister was quoted as saying that OPEC would likely need to extend production cuts into the second half of 2017.
Reference: Reuters
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