Advertisement
Advertisement

Market Snapshot – Macron Victory Improves Sentiment

By:
Colin First
Updated: Jun 19, 2017, 15:42 UTC

Stock Markets Rise The victory for Macron in the local elections has helped to push the CAC by over 1% during the course of the trading today. The CAC is

Daily Forex Outlook

Stock Markets Rise

The victory for Macron in the local elections has helped to push the CAC by over 1% during the course of the trading today. The CAC is the French stock index and the confirmation of the total dominance of Macron in the elections has ensured some sort of stability in the French government. Stability is loved by the markets and they showed their appreciation of this by rising. More and more investors bought into the stocks and this has helped the CAC in specific and the European bourses in general to rise through the course of the day.

Pound the Star

The pound continues to be the star of the day as it has been for over a week now. With all the uncerainty and the drama surrounding the elections a thing of the past, the focus is now back on the Brexit process and on the negotiations surrounding it. It is going to be a tough bit for the UK and the Euro leaders as well as they fight it out to gain control over the other and also to see what they can extract from the opposite side. It has taken a year now since the elections for Brexit took place and now we are getting closer and closer to the important bit.

Gold Under Pressure

Gold continues to trade in a weak manner during the course of the day, as it has been doing ever since the Fed announced a hike in rates and also laid the foundation for some more rate hikes towards the end of the year. The prices have been toying with the strong support region around 1248 as of this writing and a break through that is likely to take the prices back to the 1220s which would be the target for the bears in the short term.

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

Did you find this article useful?

Advertisement