Market sentiment has lifted following the first round of the French election - ANZ
|Analysts at ANZ points out that the market sentiment has lifted following the first round of the French election, with positive US company earnings and solid data also helping.
Key Quotes
“The EUR and asset markets have pushed higher, with the slight underperformance in the vote for National Front candidate Marine Le Pen (21.5%) boosting confidence that the anti-EU vote is not gaining sufficient traction to cause an upset in the second round of voting on May 7. That potentially may have implications for the anti-EU vote in other member states. Macron is expected to win 60-63% of the second round vote.”
“Overnight positive earnings from large multinationals lifted US equities, helping the MSCI All-Country Index and Nasdaq both push to all-time highs. US treasuries rose 4-6bps across the curve. The US 2 year auction drew strong demand with bidto-cover at the highest level since May 2016. In Europe the curve bear steepened, with 30 year yields up 5 to 9 bps. Commodity prices headed higher driven by softs and oil. Gold prices declined as risk sentiment improved.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.