France: Macron seals centrist pact - Bloomberg

Jose Ricaurte Jaen Analista independiente

According to the latest wires, via Bloomberg, independent candidate Emmanuel Macron agreed an alliance with his centrist rival Francois Bayrou.

Key Highlights:

•Bayrou, the 65-year-old mayor of the southern town of Pau, was a contender in the 2007 presidential election when he won 18.6 percent of the vote in the first round.

•“We are in such a risky situation and for this situation, we need an exceptional answer. Macron is brilliant.”

•French government bonds rebounded on Bayrou’s announcement after three days of declines as the 10-year yields fell eight basis points to 1.01 percent.

•Surveys have shown that whoever clinches the second spot in the run-off will become strong favorite to be France’s next president.

As of writing, the EUR/USD pair navigates bearish waters below its 50-DMA near 1.0545. The next relevant event on today's US docket eagerly expected by traders and investors to initiate massive long-dollar positions or short-sell the greenback is the FOMC minutes. Hence, the shared currency could climb back near 1.0600 or crash towards 1.0450 support if the minutes fail to provide clarity in regards a 'rate hike' in March.

Author

Jose Ricaurte Jaen

Analista independiente

Born in Colón (Panamá). Over the last years, he has been designing currency algorithms for the retail industry.

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