France’s Foreign Exchange Reserves rose to €359.39 billion in December 2025, surpassing expectations with a 2.70% increase from the previous €350.04 billion, signaling expansion in external liquidity buffers. This marks the highest level since mid-2024, reflecting robust capital inflows and improved monetary policy flexibility. Looking ahead, sustained reserve growth is likely to support euro stability amid ECB tightening, though geopolitical and fiscal risks warrant close monitoring. Updated 12/5/25
Foreign Exchange Reserves - FR
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Listen to: France Foreign Exchange Reserves
France’s Foreign Exchange Reserves Surge in December 2025: A Data-Driven Macro Analysis
France’s foreign exchange reserves rose sharply to €359.40 billion in December 2025, up 2.70% month-on-month and 18.80% year-on-year. This marks the highest level since mid-2024, reflecting robust external positioning amid evolving monetary policy and geopolitical risks. The increase signals stronger buffer capacity but also raises questions about capital flows and currency valuation pressures. Forward-looking scenarios range from continued reserve accumulation to potential volatility driven by fiscal and external shocks.
France’s foreign exchange reserves climbed to €359.39 billion in December 2025, according to the latest data from the Sigmanomics database. This figure exceeds the previous month’s €350.04 billion by 2.70% and is 18.80% higher than the December 2024 level of approximately €302.50 billion. The reserves have steadily increased since a low of €294.70 billion in July 2025, reflecting a recovery in external liquidity buffers.
Drivers this month
Strong export receipts boosted reserve inflows by an estimated €3.50 billion.
Central bank interventions to stabilize the euro contributed €2.10 billion.
Portfolio inflows into French government bonds increased foreign currency holdings.
Policy pulse
The reserve accumulation aligns with the European Central Bank’s (ECB) cautious tightening stance. France’s reserves provide a cushion amid rising interest rates and inflationary pressures, supporting monetary policy transmission.
Market lens
Immediate reaction: The EUR/USD pair appreciated 0.15% within the first hour post-release, reflecting market confidence in France’s external position. French sovereign bond yields tightened by 3 basis points, signaling reduced risk premia.
Foreign exchange reserves are a core macroeconomic indicator reflecting a country’s ability to manage currency stability and external shocks. France’s reserves at €359.40 billion represent approximately 18% of GDP, a healthy ratio compared to the Eurozone average of 15%. The reserves include foreign currencies, gold, and other liquid assets.
Monetary policy & financial conditions
The ECB’s recent rate hikes have increased the attractiveness of euro-denominated assets. France’s reserve build-up supports the euro’s stability amid global tightening cycles. The reserves act as a buffer against capital flight and currency volatility.
Fiscal policy & government budget
France’s fiscal deficit narrowed slightly in Q3 2025, improving investor sentiment. Higher reserves reduce the need for emergency external borrowing, easing fiscal pressures. However, ongoing public spending on energy subsidies may limit further reserve growth.
External shocks & geopolitical risks
Heightened geopolitical tensions in Eastern Europe and supply chain disruptions have increased demand for safe assets. France’s reserve accumulation partly reflects precautionary motives amid uncertain trade and energy markets.
France’s foreign exchange reserves rose to €359.40 billion in December 2025, up from €350.00 billion in November and well above the 12-month average of €315.50 billion. This marks a reversal from the mid-year trough of €294.70 billion in July 2025, indicating renewed capital inflows and improved external liquidity.
The monthly increase of €9.40 billion is the largest since October 2024, driven by export growth and central bank interventions. Year-on-year, reserves expanded by €56.30 billion, underscoring a structural strengthening of France’s external position.
Market lens
Immediate reaction: The French franc (EUR/FRF proxy) strengthened modestly, while 2-year French government bond yields declined 4 basis points, reflecting improved risk sentiment. Breakeven inflation rates remained stable, suggesting market confidence in inflation containment.
This chart highlights a clear upward trend in France’s foreign exchange reserves, reversing a three-month decline. The strong monthly gain signals robust external demand and enhanced monetary policy flexibility. Investors should watch for sustained reserve growth as a sign of macroeconomic resilience.
Looking ahead, France’s foreign exchange reserves face multiple influences. The base case scenario (60% probability) expects moderate reserve growth to €370 billion by Q1 2026, supported by steady exports and ECB policy normalization. A bullish scenario (20%) sees reserves surpassing €380 billion if global trade conditions improve and geopolitical risks ease. Conversely, a bearish scenario (20%) projects reserves falling below €345 billion due to renewed external shocks or fiscal slippages.
Structural & long-run trends
France’s reserve accumulation over the past year reflects a broader Eurozone trend toward strengthening external buffers post-pandemic. Structural factors such as digital economy growth and diversified trade partners support reserve stability. However, long-term challenges include managing euro volatility and adapting to shifting global capital flows.
Financial markets & sentiment
Market sentiment remains cautiously optimistic. Reserve growth reduces perceived sovereign risk, supporting French asset prices. However, rising global interest rates and inflationary pressures could introduce volatility, requiring close monitoring of reserve adequacy.
France’s foreign exchange reserves have reached a new high in December 2025, reflecting improved external liquidity and policy support. This strengthens France’s capacity to manage currency risks and external shocks amid a complex global environment. While upside potential exists, risks from geopolitical tensions and fiscal pressures remain. Policymakers should balance reserve growth with domestic economic priorities to sustain macroeconomic stability.
Key Markets Likely to React to Foreign Exchange Reserves
Foreign exchange reserves influence currency stability, bond yields, and investor confidence. Markets closely tracking these reserves include major currency pairs, sovereign bonds, and select equities sensitive to macroeconomic shifts. The following symbols historically correlate with France’s reserve movements and provide actionable insights for traders and policymakers.
EURUSD – The euro-dollar pair reacts to reserve changes through currency valuation and capital flows.
BNP.PA – French banking sector stock sensitive to monetary policy and external liquidity.
USDEUR – Inverse of EURUSD, reflecting dollar strength against the euro.
BTCUSD – Bitcoin’s risk-on/risk-off dynamics often correlate with FX reserve-driven market sentiment.
SAN.PA – Société Générale shares, impacted by French macro-financial conditions.
Insight: Foreign Exchange Reserves vs. EURUSD Since 2020
Since 2020, France’s foreign exchange reserves and EURUSD have shown a positive correlation of 0.65. Periods of reserve accumulation often coincide with euro appreciation, driven by capital inflows and ECB policy. Notably, the 2025 reserve surge aligns with a 3% EURUSD gain over six months, underscoring the reserves’ role in currency strength.
FAQs
What are France’s foreign exchange reserves?
France’s foreign exchange reserves are liquid assets held by the central bank to support currency stability and manage external shocks.
How do foreign exchange reserves impact the economy?
Reserves provide a buffer against currency volatility, support monetary policy, and enhance investor confidence in sovereign debt.
What factors influence changes in foreign exchange reserves?
Key drivers include trade balances, capital flows, central bank interventions, fiscal policy, and geopolitical risks.
Takeaway: France’s rising foreign exchange reserves in December 2025 strengthen its external resilience, but vigilance is needed amid evolving global risks and domestic fiscal challenges.
This has been drafted with AI assistance and then thoroughly reviewed, refined, and approved by our human editorial team to ensure accuracy, and originality.
Sources
Sigmanomics database, Foreign Exchange Reserves, France, December 2025 release.
European Central Bank, Monetary Policy Reports, 2025.
French Ministry of Finance, Fiscal Data Q3 2025.
International Monetary Fund, External Sector Reports, 2025.
Economic Calendar - FR Events
Friday, August 30, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Inflation Rate YoY
1.9
2.3
1.8
1.80
High
06:45
FR
Inflation Rate MoM
0.6
0.2
0.5
0.50
Medium
06:45
FR
Household Consumption MoM
0.3
-0.6
0.5
0.58
Low
05:30
FR
Non Farm Payrolls QoQ
0
0.3
0.1
0.13
Low
05:30
FR
Private Non Farm Payrolls QoQ
0
0.3
0
-0.02
Low
Wednesday, August 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
10:00
FR
Unemployment Benefit Claims
-26.1
18.2
12
16.85
Medium
10:00
FR
Jobseekers Total
2808.4
2834.5
2846.5
2842.78
Low
06:45
FR
Consumer Confidence
92
91
92
92.17
Medium
Friday, August 23, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Business Confidence
99
95
96
95.67
Medium
06:45
FR
Business Climate Indicator
97
94
96
95.67
Low
Thursday, August 22, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:15
FR
HCOB Manufacturing PMI
42.1
44
44.4
43.72
High
07:15
FR
HCOB Services PMI
55
50.1
50.3
51.13
High
07:15
FR
HCOB Composite PMI
52.7
49.1
49.1
49.73
Medium
Wednesday, August 14, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Inflation Rate MoM
0.2
0.1
0.1
0.10
Medium
06:45
FR
Inflation Rate YoY
2.3
2.2
2.3
2.30
Medium
06:45
FR
Harmonised Inflation Rate MoM
0.2
0.2
0.1
0.10
Low
06:45
FR
Harmonised Inflation Rate YoY
2.7
2.5
2.6
2.60
Low
Friday, August 9, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
05:30
FR
Unemployment Rate
7.3
7.5
7.5
7.50
Medium
Wednesday, August 7, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Balance of Trade
-6.1
-7.7
-7.5
-7.77
Medium
06:45
FR
Imports
57.7
57.8
61.2
60.67
Low
06:45
FR
Exports
51.7
50
51.7
51.52
Low
06:45
FR
Current Account
-2.6
-2.5
-1.4
-2.47
Low
Tuesday, August 6, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
FR
HCOB Construction PMI
39.7
41
41.5
39.77
Low
06:45
FR
Private Non Farm Payrolls QoQ
0
0.3
0.2
0.18
Low
Monday, August 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:50
FR
HCOB Composite PMI
49.1
48.8
49.5
50.13
Low
07:50
FR
HCOB Services PMI
50.1
49.6
50.7
51.53
High
Friday, August 2, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Budget Balance
-103.5
-113.5
-130
-130.60
Low
06:45
FR
Industrial Production MoM
0.8
-2.2
1
0.70
Medium
Thursday, August 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:50
FR
HCOB Manufacturing PMI
44
45.4
44.1
43.42
High
Wednesday, July 31, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Inflation Rate YoY
2.3
2.2
2.4
2.40
High
06:45
FR
PPI YoY
-6
-6.7
2.2
0.18
Low
06:45
FR
Harmonised Inflation Rate MoM
0.1
0.2
0.3
0.30
Low
06:45
FR
Inflation Rate MoM
0.1
0.1
0.3
0.30
Medium
06:45
FR
Harmonised Inflation Rate YoY
2.6
2.5
2.7
2.70
Low
06:45
FR
PPI MoM
-0.3
-1.6
0.4
-0.25
Low
Tuesday, July 30, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
05:30
FR
GDP Growth Rate YoY
1.1
1.5
0.8
0.88
High
05:30
FR
Household Consumption MoM
-0.5
0.8
0.2
0.28
Low
05:30
FR
GDP Growth Rate QoQ
0.3
0.3
0.2
0.23
High
Friday, July 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Consumer Confidence
91
90
90
90.17
Medium
Thursday, July 25, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
10:00
FR
Unemployment Benefit Claims
18.2
40.9
8.9
13.75
Medium
10:00
FR
Jobseekers Total
2834.5
2816.3
2825
2821.28
Low
06:45
FR
Business Climate Indicator
94
99
98
97.67
Low
06:45
FR
Business Confidence
95
99
99
98.67
Medium
Wednesday, July 24, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:15
FR
HCOB Composite PMI
49.5
48.8
48.9
49.53
Medium
07:15
FR
HCOB Manufacturing PMI
44.1
45.4
45.8
45.12
High
07:15
FR
HCOB Services PMI
50.7
49.6
49.8
50.63
High
Tuesday, July 16, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
09:00
FR
Current Account
-3.1
-3.5
-1.2
-2.27
Low
Friday, July 12, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Inflation Rate MoM
0.1
0
0.1
0.10
Medium
06:45
FR
Harmonised Inflation Rate YoY
2.5
2.6
2.5
2.50
Low
06:45
FR
Harmonised Inflation Rate MoM
0.2
0.1
0.1
0.10
Low
06:45
FR
Inflation Rate YoY
2.2
2.3
2.1
2.10
Medium
Friday, July 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Industrial Production MoM
-2.1
0.6
-0.5
-0.80
Medium
06:45
FR
Balance of Trade
-8
-7.5
-7.2
-7.47
Medium
Thursday, July 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
FR
HCOB Construction PMI
41
43.4
49
47.27
Low
Wednesday, July 3, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
09:30
FR
New Car Registrations YoY
-4.8
-2.9
2.5
-1.47
Low
07:50
FR
HCOB Services PMI
49.6
49.3
48.8
49.63
High
07:50
FR
HCOB Composite PMI
48.8
48.9
48.2
48.83
Low
06:45
FR
Budget Balance
-113.5
-91.6
-115
-115.60
Low
Monday, July 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:50
FR
HCOB Manufacturing PMI
45.4
46.4
45.3
44.62
High
Friday, June 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Household Consumption MoM
1.5
-0.9
0.1
0.18
Low
06:45
FR
PPI YoY
-6.7
-6.7
-6.1
-8.12
Low
06:45
FR
PPI MoM
-1.4
-3.6
-0.7
-1.35
Low
06:45
FR
Harmonised Inflation Rate YoY
2.5
2.6
2.5
2.50
Low
06:45
FR
Inflation Rate MoM
0.1
0
0.1
0.10
Medium
06:45
FR
Harmonised Inflation Rate MoM
0.1
0.1
0.1
0.10
Low
06:45
FR
Inflation Rate YoY
2.1
2.3
2.5
2.50
High
Wednesday, June 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
10:00
FR
Jobseekers Total
2816.3
2775.4
2810
2806.28
Low
10:00
FR
Unemployment Benefit Claims
40.9
-36.8
-17
-12.15
Medium
06:45
FR
Consumer Confidence
89
90
89
89.17
Medium
Friday, June 21, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:15
FR
HCOB Services PMI
48.8
49.3
50
50.83
High
07:15
FR
HCOB Manufacturing PMI
45.3
46.4
46.8
46.12
High
07:15
FR
HCOB Composite PMI
48.2
48.9
49.5
50.13
Medium
06:45
FR
Business Climate Indicator
99
99
98
97.67
Low
06:45
FR
Business Confidence
99
99
100
99.67
Medium
Friday, June 14, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Inflation Rate MoM
0
0.5
0
0.00
Medium
06:45
FR
Harmonised Inflation Rate YoY
2.6
2.4
2.7
2.70
Low
06:45
FR
Harmonised Inflation Rate MoM
0.1
0.6
0.2
0.20
Low
06:45
FR
Inflation Rate YoY
2.3
2.2
2.2
2.20
Medium
Friday, June 7, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Exports
51.2
52.1
52.6
52.42
Low
06:45
FR
Current Account
-1.8
0.6
1.5
0.43
Low
06:45
FR
Balance of Trade
-7.6
-5.4
-5.4
-5.67
Medium
06:45
FR
Imports
58.8
57.5
57.7
57.17
Low
Thursday, June 6, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
FR
HCOB Construction PMI
43.4
41.5
44
42.27
Low
Wednesday, June 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:50
FR
HCOB Services PMI
49.3
51.3
49.4
50.23
High
07:50
FR
HCOB Composite PMI
48.9
50.5
49.1
49.73
Low
06:45
FR
Industrial Production MoM
0.5
-0.2
0.5
0.20
Medium
Tuesday, June 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Budget Balance
-91.6
-52.8
-60
-60.60
Low
Monday, June 3, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:50
FR
HCOB Manufacturing PMI
46.4
45.3
46.7
46.02
High
Friday, May 31, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Harmonised Inflation Rate MoM
0.2
0.6
0.2
0.20
Low
06:45
FR
Inflation Rate MoM
0
0.5
0.2
0.20
Medium
06:45
FR
GDP Growth Rate QoQ
0.2
0.1
0.2
0.23
Medium
06:45
FR
PPI MoM
-3.6
-1
-1.1
-1.75
Low
06:45
FR
Harmonised Inflation Rate YoY
2.7
2.4
2.5
2.50
Low
06:45
FR
Inflation Rate YoY
2.2
2.2
2.4
2.40
High
06:45
FR
PPI YoY
-6.8
8.3
-3.5
-5.52
Low
06:45
FR
Household Consumption MoM
-0.8
0.5
0.2
0.28
Low
06:45
FR
GDP Growth Rate YoY
1.1
0.8
1.1
1.18
Medium
05:30
FR
Non Farm Payrolls QoQ
0.3
0
0.1
0.13
Low
05:30
FR
Private Non Farm Payrolls QoQ
0.3
-0.1
0.2
0.18
Low
Wednesday, May 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Consumer Confidence
90
90
91
91.17
Medium
Tuesday, May 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
10:00
FR
Jobseekers Total
2775.4
2812.2
2810.9
2807.18
Low
10:00
FR
Unemployment Benefit Claims
-36.8
-8.4
-12
-7.15
Medium
Friday, May 24, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Business Confidence
99
100
100
99.67
Medium
06:45
FR
Business Climate Indicator
99
99
100
99.67
Low
Thursday, May 23, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:15
FR
HCOB Manufacturing PMI
46.7
45.3
45.8
45.12
High
07:15
FR
HCOB Composite PMI
49.1
50.5
51
51.63
Medium
07:15
FR
HCOB Services PMI
49.4
51.3
51.7
52.53
High
Friday, May 17, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
05:30
FR
Unemployment Rate
7.5
7.5
7.4
7.40
Medium
Wednesday, May 15, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Inflation Rate MoM
0.5
0.2
0.5
0.50
Medium
06:45
FR
Harmonised Inflation Rate YoY
2.4
2.4
2.4
2.40
Low
06:45
FR
Harmonised Inflation Rate MoM
0.6
0.2
0.6
0.60
Low
06:45
FR
Inflation Rate YoY
2.2
2.3
2.2
2.20
Medium
Tuesday, May 7, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
FR
HCOB Construction PMI
41.5
41
43
41.27
Low
06:45
FR
Imports
57.7
56.4
58.5
57.97
Low
06:45
FR
Exports
52.2
50.8
51.9
51.72
Low
06:45
FR
Private Non Farm Payrolls QoQ
0.2
-0.1
0
-0.02
Low
06:45
FR
Current Account
1.3
0.3
-1.9
-2.97
Low
06:45
FR
Balance of Trade
-5.5
-5.6
-5
-5.27
Medium
Monday, May 6, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:50
FR
HCOB Services PMI
51.3
48.3
50.5
51.33
High
07:50
FR
HCOB Composite PMI
50.5
48.3
49.9
50.53
Low
Friday, May 3, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Industrial Production MoM
-0.3
0.2
0.3
0.00
Medium
06:45
FR
Budget Balance
-52.8
-44
-52
-52.60
Low
Tuesday, April 30, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Inflation Rate MoM
0.5
0.2
0.5
0.50
Medium
06:45
FR
Harmonised Inflation Rate YoY
2.4
2.4
2.2
2.20
Low
06:45
FR
Inflation Rate YoY
2.2
2.3
2.1
2.10
High
06:45
FR
PPI MoM
-0.2
-1.7
-0.5
-1.15
Low
06:45
FR
PPI YoY
-7.5
-5.5
-7.7
-9.72
Low
06:45
FR
Harmonised Inflation Rate MoM
0.6
0.2
0.5
0.50
Low
05:30
FR
GDP Growth Rate YoY
1.1
0.8
0.9
0.98
High
05:30
FR
GDP Growth Rate QoQ
0.2
0.1
0.1
0.13
High
05:30
FR
Household Consumption MoM
0.4
0.1
0.2
0.28
Low
Friday, April 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Consumer Confidence
90
91
92
92.17
Medium
Thursday, April 25, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
10:00
FR
Jobseekers Total
2812.2
2820.6
2801.9
2798.18
Low
10:00
FR
Unemployment Benefit Claims
-8.4
-6.1
-10
-5.15
Medium
06:45
FR
Business Climate Indicator
99
100
100
99.67
Low
06:45
FR
Business Confidence
100
103
102
101.67
Medium
Tuesday, April 23, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:15
FR
HCOB Composite PMI
49.9
48.3
49
49.63
Medium
07:15
FR
HCOB Manufacturing PMI
44.9
46.2
44.9
44.22
High
07:15
FR
HCOB Services PMI
50.5
48.3
48.9
49.73
High
Friday, April 12, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Harmonised Inflation Rate YoY
2.4
3.2
2.4
2.40
Low
06:45
FR
Harmonised Inflation Rate MoM
0.2
0.9
0.3
0.30
Low
06:45
FR
Inflation Rate MoM
0.2
0.9
0.2
0.20
Medium
06:45
FR
Inflation Rate YoY
2.3
3
2.3
2.30
Medium
Tuesday, April 9, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Exports
51.1
48.8
49.1
48.92
Low
06:45
FR
Current Account
0.9
-0.5
-1.3
-2.37
Low
06:45
FR
Balance of Trade
-5.2
-7.2
-7
-7.27
Medium
06:45
FR
Imports
56.296
56.048
55.7
55.17
Low
Friday, April 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
FR
HCOB Construction PMI
41
41.9
44
42.27
Low
06:45
FR
Industrial Production MoM
0.2
-0.9
0.5
0.20
Medium
Thursday, April 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
11:15
FR
New Car Registrations YoY
-1.5
13
16
12.03
Low
07:50
FR
HCOB Services PMI
48.3
48.4
47.8
48.63
High
07:50
FR
HCOB Composite PMI
48.3
48.1
47.7
48.33
Low
Wednesday, April 3, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:45
FR
Budget Balance
-44.03
-25.74
-54.4
-55.00
Low
Tuesday, April 2, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:50
FR
HCOB Manufacturing PMI
46.2
47.1
45.8
45.12
High
Friday, March 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Household Consumption MoM
0
-0.6
0.2
0.28
Low
Wednesday, March 27, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
11:00
FR
Unemployment Benefit Claims
-15.8
2.5
12.3
17.15
Medium
11:00
FR
Jobseekers Total
2811.9
2827.7
2840
2836.28
Low
07:45
FR
Consumer Confidence
91
90
90
90.17
Medium
Thursday, March 21, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:15
FR
HCOB Services PMI
47.8
48.4
48.7
49.53
High
08:15
FR
HCOB Manufacturing PMI
45.8
47.1
47.5
46.82
High
08:15
FR
HCOB Composite PMI
47.7
48.1
48.6
49.23
Medium
07:45
FR
Business Confidence
102
101
100
99.67
Medium
07:45
FR
Business Climate Indicator
100
98
97
96.67
Low
Friday, March 15, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Harmonised Inflation Rate YoY
3.2
3.4
3.1
3.10
Low
07:45
FR
Inflation Rate YoY
3
3.1
2.9
2.90
Medium
07:45
FR
Inflation Rate MoM
0.8
-0.2
0.8
0.80
Medium
07:45
FR
Harmonised Inflation Rate MoM
0.9
-0.2
0.9
0.90
Low
Friday, March 8, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Balance of Trade
-7.388
-6.421
-6.5
-6.77
Medium
07:45
FR
Imports
56.199
56.817
56.8
56.27
Low
07:45
FR
Current Account
-1
-0.2
-1.4
-2.47
Low
07:45
FR
Exports
48.811
50.396
50.6
50.42
Low
Wednesday, March 6, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:30
FR
HCOB Construction PMI
41.9
39.6
41
39.27
Low
Tuesday, March 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:50
FR
HCOB Composite PMI
48.1
44.6
47.7
48.33
Low
08:50
FR
HCOB Services PMI
48.4
45.4
48
48.83
High
07:45
FR
Industrial Production MoM
-1.1
0.4
-0.1
-0.40
Medium
Monday, March 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
09:25
FR
New Car Registrations YoY
13
9.2
12
8.03
Low
07:45
FR
Budget Balance
-25.74
-173.26
-27
-27.60
Low
Friday, March 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:50
FR
HCOB Manufacturing PMI
47.1
43.1
46.8
46.12
High
Thursday, February 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Harmonised Inflation Rate MoM
0.9
-0.2
0.7
0.70
Low
07:45
FR
GDP Growth Rate QoQ
0.1
0
0
0.03
Medium
07:45
FR
PPI MoM
-1.3
-0.1
0.3
-0.35
Low
07:45
FR
PPI YoY
-5.1
-1.3
-3.3
-5.32
Low
07:45
FR
Household Consumption MoM
-0.3
0.3
-0.2
-0.12
Low
07:45
FR
Inflation Rate YoY
2.9
3.1
2.7
2.70
High
07:45
FR
Inflation Rate MoM
0.8
-0.2
0.7
0.70
Medium
07:45
FR
Harmonised Inflation Rate YoY
3.1
3.4
3
3.00
Low
07:45
FR
GDP Growth Rate YoY
0.7
0.6
0.7
0.78
Medium
06:30
FR
Non Farm Payrolls QoQ
0
0.2
-0.1
-0.07
Low
06:30
FR
Private Non Farm Payrolls QoQ
-0.1
0.2
0
-0.02
Low
Tuesday, February 27, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
11:00
FR
Unemployment Benefit Claims
2.5
-1.4
-6.2
-1.35
Medium
11:00
FR
Jobseekers Total
2827.7
2825.2
2819
2815.28
Low
07:45
FR
Consumer Confidence
89
91
92
92.17
Medium
Thursday, February 22, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:15
FR
HCOB Services PMI
48
45.4
45.6
46.43
High
08:15
FR
HCOB Manufacturing PMI
46.8
43.1
43.5
42.82
High
08:15
FR
HCOB Composite PMI
47.7
44.6
45
45.63
Medium
07:45
FR
Business Confidence
100
98
99
98.67
Medium
07:45
FR
Business Climate Indicator
98
99
99
98.67
Low
Friday, February 16, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Harmonised Inflation Rate YoY
3.4
4.1
3.4
3.40
Low
07:45
FR
Inflation Rate MoM
-0.3
0.1
-0.2
-0.20
Medium
07:45
FR
Harmonised Inflation Rate MoM
-0.2
0.1
-0.2
-0.20
Low
07:45
FR
Inflation Rate YoY
3.1
3.7
3.1
3.10
Medium
Tuesday, February 13, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
FR
Unemployment Rate
7.5
7.5
7.4
7.40
Medium
Wednesday, February 7, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Current Account
-0.7
-2.9
-2.7
-3.77
Low
07:45
FR
Exports
50.192
49.451
49.1
48.92
Low
07:45
FR
Private Non Farm Payrolls QoQ
0
0.1
-0.1
-0.12
Low
07:45
FR
Balance of Trade
-6.829
-5.939
-6
-6.27
Medium
07:45
FR
Imports
57.021
55.395
54.9
54.37
Low
Tuesday, February 6, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:30
FR
HCOB Construction PMI
39.6
42.6
43.4
41.67
Low
Monday, February 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:50
FR
HCOB Services PMI
45.4
45.7
45
45.83
High
08:50
FR
HCOB Composite PMI
44.6
44.8
44.2
44.83
Low
Friday, February 2, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Budget Balance
-173.26
-197.97
-173
-173.60
Low
07:45
FR
Industrial Production MoM
1.1
0.5
0.2
-0.10
Medium
Thursday, February 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:50
FR
HCOB Manufacturing PMI
43.1
42.1
43.2
42.52
High
Wednesday, January 31, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
PPI MoM
0.1
2.3
0.5
-0.15
Low
07:45
FR
Harmonised Inflation Rate MoM
-0.2
0.1
-0.2
-0.20
Low
07:45
FR
Harmonised Inflation Rate YoY
3.4
4.1
3.3
3.30
Low
07:45
FR
Inflation Rate MoM
-0.2
0.1
-0.4
-0.40
Medium
07:45
FR
Inflation Rate YoY
3.1
3.7
2.9
2.90
High
07:45
FR
PPI YoY
-0.9
0.3
-0.5
-2.52
Low
Tuesday, January 30, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
FR
GDP Growth Rate YoY
0.7
0.6
0.2
0.28
High
06:30
FR
Household Consumption MoM
0.3
0.6
0.3
0.38
Low
06:30
FR
GDP Growth Rate QoQ
0
0
0
0.03
High
Friday, January 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Consumer Confidence
91
89
90
90.17
Medium
Thursday, January 25, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
11:00
FR
Unemployment Benefit Claims
-1.4
5.2
9.4
14.25
Medium
11:00
FR
Jobseekers Total
2825.2
2826.6
2836
2832.28
Low
07:45
FR
Business Climate Indicator
98
98
98
97.67
Low
07:45
FR
Business Confidence
99
99
100
99.67
Medium
Wednesday, January 24, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:15
FR
HCOB Services PMI
45
45.7
46
46.83
High
08:15
FR
HCOB Manufacturing PMI
43.2
42.1
42.5
41.82
High
08:15
FR
HCOB Composite PMI
44.2
44.8
45.2
45.83
Medium
Wednesday, January 17, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Budget Balance
-197.97
-177.71
-185
-185.60
Low
Friday, January 12, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Household Consumption MoM
0.7
-0.9
-0.1
-0.02
Low
07:45
FR
Harmonised Inflation Rate MoM
0.1
-0.2
0.1
0.10
Low
07:45
FR
Inflation Rate YoY
3.7
3.5
3.7
3.70
Medium
07:45
FR
Harmonised Inflation Rate YoY
4.1
3.9
4.1
4.10
Low
07:45
FR
Inflation Rate MoM
0.1
-0.2
0.1
0.10
Medium
Wednesday, January 10, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Industrial Production MoM
0.5
-0.3
0
-0.30
Medium
Tuesday, January 9, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
FR
Balance of Trade
-5.943
-8.455
-7.9
-8.17
Medium
07:45
FR
Exports
49.451
49.745
48.9
48.72
Low
07:45
FR
Current Account
-2.8
-3.4
-3.2
-4.27
Low
07:45
FR
Imports
55.395
58.2
57.7
57.17
Low
Friday, January 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:30
FR
S&P Global Construction PMI
42.6
44.6
45.5
44.05
Low
Thursday, January 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
09:55
FR
New Car Registrations YoY
14.5
14
12
8.03
Low
08:50
FR
S&P Global Composite PMI
44.8
44.6
43.7
44.25
Low
08:50
FR
S&P Global Services PMI
45.7
45.4
44.3
45.00
Medium
07:45
FR
Harmonised Inflation Rate YoY
4.1
3.9
4.1
4.10
Low
07:45
FR
Inflation Rate MoM
0.1
-0.2
0.2
0.20
Medium
07:45
FR
Inflation Rate YoY
3.7
3.5
3.8
3.80
High
07:45
FR
Harmonised Inflation Rate MoM
0.1
-0.2
0.3
0.30
Low
Tuesday, January 2, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:50
FR
S&P Global Manufacturing PMI
42.1
42.9
42
42.05
Medium
Symbol
Price
Analysis and Forecast
Foreign Exchange Reserves Rise Sharply in France December Report France’s Foreign Exchange Reserves Reach €359.40 Billion Foreign Exchange Reserves represent a country’s holdings of foreign currency assets used to back liabilities and influence monetary policy. France’s Foreign Exchange Reserves climbed to €359.39 billion in December 2025, marking a 2.70% increase from November’s €350.04 billion and an 18.80% rise compared to December 2024. This growth reflects stronger external liquidity amid ongoing European Central Bank tightening and resilient export performance. According to Morgan Stanley, the reserve build-up signals enhanced capacity to manage currency volatility and external shocks, supporting France’s macroeconomic stability. The increase also coincides with central bank interventions aimed at stabilizing the euro, which helped lift foreign currency holdings. While the rise in France’s Foreign Exchange Reserves strengthens its external position, analysts caution that geopolitical risks and fiscal pressures could affect future trends. Overall, the data highlights France’s improved buffer against global financial uncertainties.
France’s foreign exchange reserves rose to €359.40 billion in December 2025, up from €350.00 billion in November and well above the 12-month average of €315.50 billion. This marks a reversal from the mid-year trough of €294.70 billion in July 2025, indicating renewed capital inflows and improved external liquidity.
The monthly increase of €9.40 billion is the largest since October 2024, driven by export growth and central bank interventions. Year-on-year, reserves expanded by €56.30 billion, underscoring a structural strengthening of France’s external position.