Euro Elections Prove to Be Troublesome

tm_market_view_2024-1024x538.jpg

This post was originally published on Trademakers

courtesy of trademakers

Last week we had the results of the latest European Elections and it delivered. The Euro was the worst performer of the week as President Macron chose to call a snap election on the shortest timetable allowable.

Across the Eurozone mainstream parties lost significant ground to their rivals heaping further pressure on the Union.

 

The dollar had a positive week with the FOMC decision and CPI dominating the US market. CPI came in slightly softer which helped move markets higher and with the Fed watching the data could lead to a move softer stance. The DXY ended the week 0.6% better.

 

GBP did not end the week unscathed. Mired naturally by the turmoil in Europe the Pound fell as the country gears up for its own elections in July. This moved GBP lower making it the second worst performer of the week.

 

JPY saw a rally later in the week. The BoJ failed to hold a strong stance on bond tapering going forward and later in the week declines in US and European yields provided some relief for the Yen.

 

Oil once again continued its volatile path. WTI rose 4% to close just below $78.50

 

The week ahead could see a continuation of the volatility. We have further interest rate decisions from RBA and BoE alongside inflation data from the EU and the UK.

Weekly Majors’ Market Performance

trademakers_market_view_180624

What is Cromwell FX?

Cromwell FX is a quantitative FX manager offering superior risk adjusted returns. The portfolio is the most liquid pairs . The strategy is fully automated and adhere to strict rick management procedures to control leverage and position limits.

The post Euro Elections Prove to Be Troublesome first appeared on trademakers.

Connect with SGT Markets

Follow us for the latest news & insights

Related Articles

tm_market_view_2024-1024x538.jpg

Rate Cuts Begin

tm_market_view_2024-1024x538.jpg

Risk of sentiment mutes any positive moves

tm_market_view_2024-1024x538.jpg

Rate Cuts Looking Deferred

tm_market_view_2024-1024x538.jpg

Risk-on continues its trend

tm_market_view_2024-1024x538.jpg

Currencies More Subdued (Apart from Yen)

tm_market_view_2024-1024x538.jpg

BoJ Intervenes to Shore Up Yen

tm_market_view_2024-1024x538.jpg

Yen Collapse; FOMC in Focus

tm_market_view_2024-1024x538.jpg

Inflationary Pressure Resurfaces

tm_market_view_2024-1024x538.jpg

Quiet Markets with a Shorter Week

tm_market_view_2024-1024x538.jpg

BOJ Made Its Move

tm_market_view_2024-1024x538.jpg

USD Reverse

tm_market_view_2024-1024x538.jpg

Dollar Loss as Yen Rises