When we look at the results of Presidential Elections in France, Emmanuel Macron became the new President of France by having 66% of the vote yesterday. While the right-wing party remains at 34 % , we can see that the results do not mislead the polls this time. At the same time, Macron's election as the youngest President of France was welcomed in the European Union. After the election results were finalized, the EUR/USD parity rose to 1.102 level. The new president of France said that the dividedness conditions will be decreased during the next 5 years in France. At the same time, the contribution of Macron, who has financial background, to economic policy is expected.
On the other hand, if we look at the first effects of election of France to the currency pairs, The French elections and Macron's victory could not be enough for the parity to test over the level of 1.10 now. The optimistic conditions may continue for a while in the global markets, so the parity may try over the 1.10 level again in this week. Euro is rising while gold price falls. Because Europe is getting stronger. It may be early to say this, but at the same time, gold, which is considered as currency, is getting away from being an alternative to the Euro. We will see a stabilizing market on Friday at 1225 USD, backing up for the gold recovery in the oil, so perhaps without further retreat.
- Date: 08 May 2017 Mon 08:39
- Last Added
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