US Dollar (USD) Continues To Trump Euro (EUR) And British Pound (GBP). EUR Fails To Get Boost Post Macron Election Victory - Good Morning Forex!

Some reversal in risk sentiment seen in Asia, reaffirming that long term investors should look beyond finding a bottom in tech towards more promising sectors | Saxo Bank

Summary:

  • Macron's victory was supposedly expected to stabilize EUR.
  • Fed further increase in yields strengthening USD.

USD continues to strengthen against the EURO inlight of further US yield increases.

Market sentiment for this currency pair is bearish as of market open today, the price is down almost 0,6%. On friday the Fed announced a further increase in the bond yields, this marks the seventh consecutive week that the Fed has increased the US yields. The European Central bank is still behind the Fed on their yield increases, the expectation for this change is increasing but the increased expectations are not helping the EUR to strengthen against the USD.

EURUSD Investing

EUR/USD Price Chart


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The EURO showed overall strengthening against the GBP over the past week.

Since the market opened this morning the market sentiment for this currency pair is bullish. The EUR has strengthened against the GBP continuously over the last week. Today the increase has shown almost 0,3%. The EUR is strengthening as a result of the uncertainty with the Bank of England's future yields and the inflation causing personal spending to decrease, hampering the economy. In addition, the EUR strengthened against the GBP inlight of Macron taking the win in the French elections.

EUR To GBP

EUR/GBP Price Chart


 

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EUR/JPY showing bullish signals.

Since the market opened this morning the market sentiment is bullish for this currency pair. Despite the bullish sentiment, the price has still fallen by almost 0,8% since this morning. This currency pair is sensitive to trends in broad based market sentiment trends, therefore, inlight of Macron’s victory causing changes in market sentiment it is not surprising this price is seeing volatility.

EUR To JPY

EUR/JPY Price Chart

CHF Strengthening.

Market sentiment for the currency pair is bullish at the moment. However, despite the bullish signals the price has still fallen almost 4% since the market opened this morning. The Swiss Franc has strengthened today causing this fall.

EUR/CHF | Euro To Swiss Franc

EUR/CHF Price Chart

Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com


Read next: Monetary Policy Drives EUR/USD, The Future of the EUR/GBP Awaits the Bank Of England's Speech - Good Morning Forex


 

Some reversal in risk sentiment seen in Asia, reaffirming that long term investors should look beyond finding a bottom in tech towards more promising sectors | Saxo Bank

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.