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.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • RT @hmeisler: RUT green 3 straight. Hasn't gone 4 since early Feb.
  • $USDJPY Daily Pivot Points: S3: 107.91 S2: 108.39 S1: 108.58 R1: 109.05 R2: 109.34 R3: 109.81 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • RT @LizAnnSonders: Small- & medium-sized firms constitute 44% of GDP & nearly half of private payrolls; which doesn’t bode well for economy…
  • RT @realDonaldTrump: White House news conference at 5:30 P.M. Eastern. Thank you!
  • Precious Metals Update: #Gold 1646.35 (-0.08%), #Aluminum 1477.50 (+0.37%), and #Copper 5040.00 (+3.19%) [delayed]
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.97% 🇳🇿NZD: 0.54% 🇬🇧GBP: 0.40% 🇨🇦CAD: -0.10% 🇨🇭CHF: -0.29% 🇪🇺EUR: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/CwWpE451WZ
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.72% Gold: -0.11% Silver: -0.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/NypvhI3fFm
  • Trump announces a White House news conference at 5:30 PM EST $SPX
  • House Speaker pelosi: - Senator McConnell's aid plan will not receive unanimous consent in the House - BBG
  • As US recession odds fade, traders have pushed back the timing of the next Fed rate cut to July 2020. Get your market update from @CVecchioFX here: https://t.co/HGvKoMb6dw https://t.co/B1poxAaViv
French Government Bond Yields Hit Highest Levels Since 2015

French Government Bond Yields Hit Highest Levels Since 2015

2017-01-31 10:49:00
Martin Essex, MSTA, Analyst
Share:

Talking Points

- The yield on the benchmark 10-year French government bond climbed to its highest level since September 2015

- GDP data were in line with expectations but politics dominate the market ahead of this year’s Presidential election

- See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for the week on the DailyFX Webinar Calendar.

The yield on the 10-year French government bond, or OAT, hit a high of 1.094% Tuesday before easing back. While economic growth data were in line with forecasts, political concerns are rising ahead of this year’s two-stage Presidential election on April 23 and May 7.

The figures from INSEE, France’s statistics agency, showed GDP growth of 0.4% quarter on quarter in the final three months of last year thanks to buoyant consumer spending and corporate investment. That was in line with forecasts and compared with growth of 0.2% in the previous three months. Year on year growth was also in line with expectations at 1.1%, down from 1.2%.

In the markets, though, the numbers had little impact as nervousness climbed in the run-up to the election. The ruling Socialist Party has chosen left-winger Benoit Hamon as its candidate in a move likely to boost the chances of winning for Emmanuel Macron, an independent.

They will be up against both the far-right candidate Marine Le Pen of the National Front and the Republican Francois Fillon, who has been interviewed by French police along with his wife Penelope over claims she was paid for fake work. These two are still expected to go through to the second round once Hamon and Macron are eliminated in the first, and the choice of Hamon as the Socialist candidate could improve the chances of Le Pen as well as Macron.

Le Pen is seen as unfriendly by the markets as she is anti-immigration and has talked of France abandoning the euro. The 10-year French government bond yield was recently at 1.056% while the CAC40 index of Paris-listed shares was up 0.5% at 4808.59.

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him atmartin.essex@ig.com

Don't trade FX but want to learn more? Read the DailyFX Trading Guides.

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

DISCLOSURES

News & Analysis at your fingertips.