// Adds dimensions UUID, Author and Topic into GA4
Monday, June 22, 2026
27.2 C
Singapore
type here...
World
1 min.Read

Macron win sends EURO on seven-month high

The Independent
By The Independent
FXTM Chief Market Strategist Hussein Sayed said the Emanuel Macron massive win in the French presidential elections which has sent the Euro on a seven-month is indicative of a reversal from the recent rise of ‘populism’ in the west.
“French say “no” to populism and “yes” to a united Europe following a similar trend in Austria and The Netherlands over the past six months.
“Macron’s decisive victory on Sunday is a clear sign of a resistance to populism after Trump’s election and the Brexit vote,” said the analyst.
With the Euro hitting a seven-month high, to trade above 1.10 against the dollar as an initial reaction, but pulled away in a classic “buy the rumor, sell the fact” style given that traders were already positioned for a Macron win.
The Euro appreciated by 2.5% since the first round of voting, suggesting that the good news was already priced in, and now it requires a fresh catalyst to determine the next move.
The next challenge for Macron is going to be the parliamentary elections in June, and given that there’s a lack of significant support, it remains highly uncertain whether the President can build a parliamentary majority.
“However, I don’t think this is going to be a major concern to the Euro.
“The next political risk event in the EU is the Italian general election, due to be held in March 2018.
“As there are ten months until this key event, investors and traders should shift their attention from politics to macro fundamental drivers,” said Sayed.
The key macroeconomic indicator from the Eurozone, along with fewer political risks, will likely lead to inflows of capital to European markets, especially as valuations look more attractive than the US.
But the Euro’s direction will be more influenced by the actions of the European Central Bank.
If the ECB is thinking of starting the tapering process, the next meeting on June 8 could be a time to announce the beginning of the exit.
“Therefore, I see more upside risk than the downside to EURUSD,” he said.
- Advertisement -
Google News Follow Google News WhatsApp Join us on WhatsApp Telegram Follow us on Telegram

Hot this week

Malaysia

‘Social media was never the problem’: Malaysians divided over under-16 social media ban

The story explores Malaysia’s new under-16 social media restriction, highlighting the balance between protecting children online and addressing concerns over privacy, age verification, and the pote...
Jobs

‘Sinking hole in my chest’: Fresh graduate opens up about rejection from S$7.5k role after six interview rounds

SINGAPORE: A fresh graduate recently admitted on social media that they have been struggling to come to terms with being rejected for a role they desperately wanted after making it all the way to t...

Popular Categories

Singapore NewsFeatured NewsSG EconomySingapore PoliticsLifestyleCelebrityInternational
document.addEventListener("DOMContentLoaded", () => { const trigger = document.getElementById("ads-trigger"); if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { entries.forEach(entry => { if (entry.isIntersecting) { lazyLoader(); // You should define lazyLoader() elsewhere or inline here observer.unobserve(entry.target); // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); observer.observe(trigger); } else { // Fallback setTimeout(lazyLoader, 3000); } });

The Independent SG

Also Visit

Social Media

© The Independent Singapore

// //
Enable Notifications OK No thanks