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. See our updated Privacy Policy here.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
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
Bearish
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
Mixed
GBP/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
USD/JPY
Bullish
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
More View more
Real Time News
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.05% 🇨🇭CHF: 0.03% 🇦🇺AUD: 0.02% 🇨🇦CAD: -0.04% 🇳🇿NZD: -0.08% 🇯🇵JPY: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/8RjWgZnVuC
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.19%, while traders in France 40 are at opposite extremes with 70.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/V8ZnsZ4edi
  • S&P 500 Index Rebound May Offer Relief for Nikkei 225 and ASX 200 https://www.dailyfx.com/forex/market_alert/2021/05/14/SP-500-Index-Rebound-May-Offer-Relief-for-Nikkei-225-and-ASX-200.html https://t.co/ZnGfxTKewh
  • Update on #Cryptocurrencies #BITCOIN +1.94% #BITCOINCASH +5.98% #ETHEREUM +3.83% #RIPPLE +4.27% #LITECOIN +4.10% #DOGECOIN +10.44%
  • The British Pound gained aggressively, placing the focus on levels that may send GBP/USD and GBP/JPY lower, with EUR/GBP still open to a turn higher. Will Sterling’s advance continue? Get your $GBP market update from @ddubrovskyFX here:https://t.co/PHoCHVc20M https://t.co/NKKwqiEESG
  • RT @FxWestwater: #Corn had quite the day, with a big limit-down drop after the USDA #WASDE report forecasted higher ending stocks. https://…
  • Japan plans virus emergency in Hokkaido, Hiroshima and Okayama -BBG
  • The Dow Jones and S&P 500 outlook appears bleak in the near term as retail traders increase their upside exposure. At the same time, these indices confirmed bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/fKCHELbOxo https://t.co/9C6i6IHqCr
  • USD/CHF May Reverse Downtrend if Falling Wedge Plays Out - #USDCHF chart https://t.co/6VXrYbCodi
  • The Euro's technical posture against the US Dollar, Japanese Yen and Australian Dollar shows potential for near-term directional shifts. Here are the EUR/USD, EUR/AUD and EUR/JPY levels to watch. Get your $EUR market update from @FxWestwater here:https://t.co/7rW8FGPBUt https://t.co/Lu6KAC3YzQ
Macron Victory in French Presidential Elections Points to Minor Euro Gains

Macron Victory in French Presidential Elections Points to Minor Euro Gains

Christopher Vecchio, CFA, Senior Strategist

Talking Points

- Emmanuel Macron beats Marine Le Pen in a landslide, 65.5% to 34.5%.

- Result was widely expected; pre-market trading shows only minor gains for Euro.

- 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.

In thin pre-market trading, the Euro is trading slightly higher than it’s close on Friday versus the Japanese Yen and the US Dollar, as the last bit of French political risk premium vanished from the near-term horizon. The second round of the French presidential elections turned out as was widely anticipated, with centrist Emmanuel Macron beating populist Marine Le Pen by a margin of 65.5% to 34.5%.

While the election result in and of itself is a landslide win by Macron, it’s lead to very little upside in EUR/USD. At the time this report was written, a pre-market composite quote from Bloomberg shows a 1.1017/1.1021 bid/ask spread.

The small move higher can be attributed to the fact that polls ahead of today’s vote predicted upwards of a 20-point victory for Macron, so the Macron victory was widely discounted into price already. After the first round of the French elections, EUR/USD 1-month implied volatility sank to as low as 7.47%, after trading as high as 13.45% on April 17.

Chart 1: EUR/USD Daily Timeframe (February 2016 to May 2017)

Macron Victory in French Presidential Elections Points to Minor Euro Gains

EUR/USD may have further upside ahead of it yet, as it continues to work its way higher after breaking out from a year-long downtrend. The bullish run towards 1.1135 remains the near-term focus so long as price holds above 1.0850.

--- Written by Christopher Vecchio, Senior Currency Strategist

To contact Christopher, email him at cvecchio@dailyfx.com

Follow him in the DailyFX Real Time News feed and Twitter at @CVecchioFX.

To receive this analyst’s reports, sign up for his distribution list.

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

DISCLOSURES