With the landslide victory of Macron’s Party, things are looking good for the Markets and the Euro. Foreign Exchange, Stocks and Commodities Market reaction to political developments in France and Italy was best seen with the yield spread of 10-year bonds with respect to German bunds, the region’s benchmark of “risk-free” debt.
Market Focus is on events that happen not to be on the Economic Calendar; first, Georgia Elections, Queen’s Speech tomorrow, then Brexit and more Brexit.
Even though Trump weighed in on Twitter late Monday and early Tuesday, attacking Ossoff for living just outside the district, more than 140,000 voters cast their ballots early and Ossoff is looking like the favorite. A Democrat victory would signal weakening support for Trump.
Today’s Forex Trade idea for EURUSD is shown on the Chart above.