Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 54.76% of retail investor accounts lose money when trading CFDs / Spread betting with this provider. You should consider whether you understand how CFDs / Spread betting work and whether you can afford to take the high risk of losing your money.
Important Notice - Fraud awareness
Important Notice - Scam alert
54.76% of retail investor accounts lose money when trading CFDs / Spread betting with this provider.
Important Notice - Fraud awareness
Important Notice - Scam alert
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 54.76% of retail investor accounts lose money when trading CFDs / Spread betting with this provider. You should consider whether you understand how CFDs / Spread betting work and whether you can afford to take the high risk of losing your money.
Important Notice - Fraud awareness
Important Notice - Scam alert
The vast majority of retail investor accounts lose money when trading CFDs / Spread betting with this provider.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs / Spread betting with this provider. You should consider whether you understand how CFDs / Spread betting work and whether you can afford to take the high risk of losing your money.
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French Elections: EURO begins the week with new gains as Macron Leads in the first poll

Euro has risen considerably against the dollar to begin the new week on a positive trend following the news of Macron's victory in the first poll of the French elections. The incumbent president - Emmanuel Macron had amassed the highest vote in the first-round voting in the French presidential election. 

 

The French citizens had turned out en masse yesterday to choose out of the twelve candidates that participated in the second round of the election yesterday. The leading three candidates after the elections were: the incumbent president Emmanuel Macron from the republican party, the nationalist rival Marine Le Pen, and Far-left leader Jean-Luc Melenchon. 

 

Macron got the highest vote with over 29% of the total vote cast. The outspoken nationalist contestant Le Pen was second and closer with about 25%. Melenchon was third with around 20%. 

 

Following the French system of elections, a final and decisive round of the election will be conducted between the two leading candidates as Macron and Le Pen on Sunday, April 24 to decide the final winner of the presidential seat. 

 

The outcome of this final election no doubt bears a lot of influence on the forex market as Victory for Macron means more strength for Euro. Hence EUR/USD had risen by 0.20% during the Asian session today to settle at $1.0957 before the current retracement that brought it back to last week's close at $1.08850. 

 

Many political observers fear that Macron's victory is not assured this time. There exists a strong possibility for Le Pen to win the elections, given her records with Macron. This can only happen if she succeeds in amassing the support of other parties put together to support her against the incumbent president. 

 

Aside from the just-concluded second round of elections yesterday, other factors weigh on the Euro currency this week, such as the ECB meetings in Europe on Thursday. During this meeting, the ECB is expected to give its current stance on Inflation and interest rates hikes. Also, they are to address the consumer's rising prices index emanating from displacements due to the Ukraine wars. Of course, they to give precise details on how they intend to wind down on assets purchase. 

Last Updated: 11/04/2022

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.


 

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