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Euro up as Macron appears to win the first debate

Tuesday, Mar 21 2017
Euro up as Macron appears to win the first debate

Financial markets seem to have entered a rather quiet phase of trading, however the euro is performing well after a positive performance from Emmanuel Macron in the first live French Presidential debate. The French Presidential election also had the main candidates in a live television debate last night with the first round of voting just over a month away. Seen as doing well in the debate, the improved prospects of Emmanuel Macron recently have tended to leave markets fairly sanguine over the risks of populism driving a Le Pen victory, also providing support for the euro.

The FOMC meeting pulled Treasury yields and the dollar lower, but there are now signs that this move is beginning to consolidate. That is impacting across forex markets and commodities, with a subdued start to the week. Direction could be found in the coming days with a raft of Fed speakers lines up to give views on FOMC monetary policy, with Janet Yellen set to speak on Thursday. The issue of Greece’s bailout is also back in focus after another meeting to release the next tranche of bailout failed to be agreeably resolved yesterday. Greece owes around €7bn in July and needs the next tranche in order to make the payment.

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