Risk-off tone on French elections was the theme overnight - ANZ
|Analysts at ANZ explained that markets were trading in a risk-off tone through the London session as concerns over the French election continued to build.
Key Quotes:
"However, an announcement that Francois Bayrou will not stand in the French election but rather join forces with Macron caused a pop in risk sentiment. EUR had dipped below 1.05 before popping to 1.0540 on the French news."
"OATS bull flattened with the front-end down about 4bps and the long-end down 8bps. US treasuries erased early gains with 10 year yields climbing from a low of 2.39% to a high of 2.44%, before edging down to 2.42% after the release of the Fed minutes."
"Gold fell from a high of USD1241 to USD1233, before recovering post the Fed minutes to USD1238/oz. Elsewhere, solid US data had little impact on markets."
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.