Euro Rises on French Vote, China Eyed After PMI: Markets Wrap.

The euro has risen due to signs that Marine Le Pen's far-right party may not win as comfortably as expected in the first round of France's legislative elections. Initial results show Le Pen's National Rally ahead of President Emmanuel Macron's centrist alliance, but they may not have enough votes to secure an absolute majority after the second round of voting. This outcome has eased concerns about expansive fiscal policy, boosting the euro. In other news, Chinese stocks are being closely watched after a report showed factory activity contracted for a second consecutive month in June. [Extracted from the article]