News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
Wall Street
More View more
Real Time News
  • Lately, capital has been flowing out of #EmergingMarkets and #ASEAN economies, pushing the US Dollar higher against their respective currencies Will this trend continue this week? Check out my latest fundamental outlook here -
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here:
  • $AUDUSD price action strikingly similar to that seen in 2002 - Break above the 1997 downtrend ignited a 106% surge, eventually peaking in July 2008 (0.9850) - Consolidation above downtrend preceded upside push - Bullish RSI divergence appears to signal cyclical upturn
  • Heads Up:🇯🇵 Leading Economic Index Final (JUL) due at 05:00 GMT (15min) Expected: 86.9 Previous: 83.8
  • Heads Up:🇯🇵 Coincident Index Final (JUL) due at 05:00 GMT (15min) Expected: 76.2 Previous: 74.4
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.83%, while traders in EUR/GBP are at opposite extremes with 64.39%. See the summary chart below and full details and charts on DailyFX:
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.42% 🇬🇧GBP: 0.21% 🇯🇵JPY: 0.21% 🇨🇦CAD: 0.06% 🇪🇺EUR: 0.04% 🇨🇭CHF: 0.03% View the performance of all markets via
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.56% France 40: 1.56% FTSE 100: 1.23% Wall Street: 0.47% US 500: 0.39% View the performance of all markets via
  • #ASX200 struggling to break above key resistance at 6000 after Westpac retracted its calls for an #RBA rate cut in October RSI hints at fading bullish momentum which suggests that a push towards the monthly low is on the cards, if 200-MA resistance (6020) remains intact. $XJO
  • $AUDJPY poised to move higher after finding support at the 200-day moving average. $CADJPY eyeing a push back towards the yearly high $EURJPY perched atop key support after breaking below Rising Wedge support. Are further losses in the offing? $JPY
French Elections Give Euro Life; DXY at Major Trendline Support

French Elections Give Euro Life; DXY at Major Trendline Support

2017-04-24 11:30:00
Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- French elections come out just as the polls predicted, with Emmanuel Macron and Marine Le Pen advancing to round two on May 7. - DXY Index back to major trendline support as prospect of US government shutdown nears this Friday, April 28.

- See how the French elections fit in with the DailyFX Q2'17 forecasts.

Upcoming Webinars for Week of April 23 to April 28, 2017

Today at 7:30 EDT/11:30 GMT: FX Week Ahead: Strategy for Major Event Risk

Tuesday at 6:00 EDT/10:00 GMT: DailyFX European Desk Round Table

Wednesday at 6:00 EDT/10:00 GMT: Weekly Trading Q&A

Thursday at 6:00 EDT/10:00 GMT: Central Bank Weekly

Thursday at 7:30 EDT/11:30 GMT: Live Event Coverage: ECB Rate Decision

Friday at 8:15 EDT/12:15 GMT: Live Event Coverage: US GDP (Q1)

See the full DailyFX Webinar Schedule for other upcoming strategy sessions.

Higher yielding currencies and risk-correlated assets are running higher this morning thanks in no small part to the results of the first round of the French presidential elections. With Emmanuel Macron, the candidate most likely to beat Marine Le Pen in a runoff election advancing into the second round, the Euro is breathing a heavy sigh of relief that a French existential crisis will never materialize.

With implied volatility having run significantly higher in EUR-crosses ahead of the French elections, there's little room left to wonder why the Euro has traded so sharply higher at the start of the week. EUR/USD itself is paring its gains, however, as the DXY Index has come into longstanding support, the trendline going back to the May, June, and August 2016 lows.

While there may be a bit more juice to squeeze out of the French elections as a catalyst for Euro strength when the second round of voting takes place on May 7, the immediate focus in the days ahead is on the potential US government shutdown. If the US government does not get a budget in place by this Friday, April 28, the lights go out - plain and simple. The timing of such an event would be a significant negative catalyst for the US Dollar, which can't really afford one at the moment as it nears a major technical breakdown.

See the above video for a further discussion of the US Dollar's prospects this week as well as a technical review of the DXY Index, EUR/USD, AUD/USD, GBP/USD, USD/JPY, EUR/AUD, GBP/AUD, and Gold.

Read more: Get Ready for Gap Open in EUR-Crosses Thanks to French Election

--- Written by Christopher Vecchio, Senior Currency Strategist

To contact Christopher Vecchio, e-mail

Follow him on Twitter at @CVecchioFX

To be added to Christopher's e-mail distribution list, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.