Group 1 - The core viewpoint indicates that the euro is facing downward pressure due to economic uncertainties in France and a deteriorating economic situation, which is reflected in rising bond yields [1][2] - France's debt-to-GDP ratio is projected to reach 114.1% by the end of Q1 2025, ranking third in the Eurozone, only behind Greece (152.5%) and Italy (137.9%) [1] - The recent political instability in France, marked by the appointment of a new Prime Minister, has not alleviated market concerns, as evidenced by the downgrade of France's credit rating by S&P on October 17 [1] Group 2 - The euro's recent increase was primarily due to the weakness of the dollar rather than any inherent strength of the euro itself, suggesting that the euro's internal weakness will dominate its future movements [2] - Technical analysis indicates that the euro against the dollar is likely to maintain a downward trend, with resistance levels identified at 1.1675 and support levels at 1.1630-1.1635 [3] - The steepening yield curve reflects investors demanding higher premiums to compensate for the accumulating budget deficits and expected increases in sovereign bond issuance risks [1]