ONLINE FOREX BROKER
2019-11-11 • Updated
EUR/USD rose to 6-month highs ahead of the final round of the French presidential election, which will take place on Sunday, May 7. The market expects that centrist Emmanuel Macron will win the run-off against far-right candidate Marine Le Pen and become France's next president. Unlike Le Pen, Macron wants France to stay in the euro area. That’s why the market has been pricing in his victory by buying EUR/USD.
Although the euro has already strengthened on these optimistic expectations, Macron’s victory will likely keep it supported or even let it continue gaining, as in this case political risks in the euro area will significantly decline and traders will refocus on the region’s rather good fundamentals. Euro area’s retail sales rose by 0.3% in March. GDP growth in Q1 turned out to be steady at 0.5%).
After the elections, there will be only the data of minor importance in the European economic calendar. Among these releases, focus on the European Union’s economic forecasts on Thursday and German preliminary GDP on Friday.
EUR/USD has managed to stay above 1.0950 after the US NFP release. There was already a good daily close above the former 2017 resistance line. A weekly close above this level will open the way up to 1.1000, 1.1088 and 1.1100. Support is at 1.0930, 1.0890 and 1.0830.
The EU plans to intervene in markets directly to curb rising energy costs, threatening to push the Euro area's economy into a deep recession.
The oil prices rally and world central banks’ dovish monetary policy caused by the Covid-19 pandemic were the main reasons for current inflation growth…
Weaker recoveries were seen in both the UK manufacturing and service sectors, with the latter recording the greatest loss of momentum since July.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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