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  • The US Dollar still remains under pressure against most ASEAN currencies heading into May. A busy week awaits the Indonesian Rupiah, Thai Baht, Philippine Peso and Singapore Dollar. Get your market update from @ddubrovskyFX here:https://t.co/Ed95511S7Y https://t.co/R9U2jLoAD3
  • #NOK #NZD and #AUD are expected to be the most-active #G10 FX against the US Dollar with one-week implied volatility at 11.20, 9.05 and 9.05 respectively [delayed] -BBG
  • Dogecoin continues to trade higher with explosive energy, attesting to the cryptocurrency's new clout. Meanwhile, Bitcoin and Ethereum sink. Get your #Dogecoin market update from @FxWestwater here:https://t.co/ohw714KqB2 https://t.co/kAJapqX1Yi
  • Heads Up:🇦🇺 Ai Group Services Index (APR) due at 22:30 GMT (15min) Previous: 58.7 https://www.dailyfx.com/economic-calendar#2021-05-06
  • The US Dollar is still struggling against most ASEAN currencies. USD/SGD remains downside-focused despite recent gains. USD/THB is eyeing a triangle. USD/IDR and USD/PHP may point lower. Get your market update from @ddubrovskyFX here:https://t.co/6Nvvmz8h6d https://t.co/dX69A341oc
  • US Dollar Outlook: USD/CAD Volatility to Rise, Jobs Data Looms -via @DailyFX Link to Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2021/05/06/us-dollar-outlook-usd-cad-volatility-to-rise-jobs-data-looms.html #NFP $DXY $USDCAD https://t.co/OIYZ2YXxLK
  • Heads Up:🇺🇸 Fed Kaplan Speech due at 22:05 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-06
  • The Federal Reserve discussed the vulnerability of asset prices should appetite change. Get your market update here: https://t.co/0nAEKEX1eh https://t.co/BD24UcDeyT
  • EUR/USD stronger amid broad USD weakness on Thursday $EURUSD https://t.co/h042KoSyuA
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.98% 🇨🇭CHF: 0.60% 🇦🇺AUD: 0.49% 🇳🇿NZD: 0.26% 🇯🇵JPY: 0.11% 🇬🇧GBP: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/4u2cNfSmLn
European Markets Relief Rally after First Round of French Election

European Markets Relief Rally after First Round of French Election

Katie Pilbeam,

European markets are enjoying a relief rally after Emmanuel Macron’s victory in the first round of the French presidential election. Both the bourses and euro are gaining value with investors emboldened by the hope that Macron will win the Presidency in 13 days’ time. But considering Macron secured almost 24% of Sunday’s first-round vote and he has all of the other candidates support now, he is seen as the likely winner.

But optimism aside, Le Pen is still in the running and caution would be a wise position considering the shock Brexit vote and surprise Trump victory.

The CAC has jumped to a nine-year high, ripping through its April 2015 high, and is now up 4.5% to levels last seen in 2008. While France's 10-year bond yield fell 11 basis points. The financials are gaining the most with Credit Agricole, Soc Gen and BNP Paribas all up by around 10 percent. Financials are also the top gainers in London such as Barclays and RBS. While the euro is enjoying its best daily climb against the dollar since last June while safe havens gold and the Japanese Yen are not so enticing for investors keen on riskier assets now.

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

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