Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Euro steady, focus on Sunday's French presidential election

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/21/2017 | 03:26am CEST
FILE PHOTO: An advertisement promoting China's renminbi (RMB) or yuan, U.S. dollar and Euro exchange services is seen outside at foreign exchange store in Hong Kong, China

The euro held steady below a three-week high against the dollar on Friday as investors awaited this weekend's first round of voting in France's presidential election.

The dollar was little changed against a basket of six major currencies at 99.815 <.DXY>, after the latest data on U.S. jobless claims and business activity in the mid-Atlantic region did not change traders' views of modest U.S. economic growth and low inflation.

The euro was flat at $1.0718 <EUR=>, after having risen to as high as $1.0778 on Thursday, its highest level since late March, as traders shut down broad bets against the common currency ahead of the French vote on Sunday.

Going into the first round of France's presidential election moves in the euro will probably be limited to position adjustment, said Masafumi Yamamoto, chief currency strategist for Mizuho Securities in Tokyo.

Yamamoto said his baseline scenario is for French centrist Emmanuel Macron and far-right candidate Marine Le Pen to make it past the first round in a close vote.

"But if Le Pen were to get past the first round with a wide lead, the (market) impact could be large," Yamamoto said.

Security concerns took centre stage on Friday in the last days of France's tight presidential race after a Paris policeman was shot dead.

Polls suggest the most likely outcome of Sunday's first round of voting is centrist Emmanuel Macron and far-right candidate Marine Le Pen facing off in the May 7 second round.

Should Macron rank first or second in Sunday's election, he is seen easily winning the runoff vote on May 7.

However, after surprises in last year's U.S. election and the UK Brexit referendum, voter indecision and low turnout could catch markets wrong-footed yet again.

The euro held steady against the yen at 117.10 yen <EURJPY=R>, staying below Thursday's high of 117.81 yen, which was the highest since April 10.

The dollar held steady versus the yen at 109.28 yen <JPY=> after rising 0.4 percent on Thursday.

(Reporting by Masayuki Kitano; Editing by Eric Meijer)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
05:43p DGAP-ADHOC : Accenture digital holdings gmbh is seeking to conclude a domination and profit and loss transfer agreement with sinnerschrader ag
05:35p MINISTRY OF FOREIGN AFFAIRS OF I R OF IRAN : I hope we present a clear image of merciful Islam to entire world through empathy, brotherhood/I am sure we can eradicate violence, extremism, terrorism from Islamic lands with each other’s help
05:33pDJCanada Braces for Additional Duties on Its U.S.-Bound Softwood-Lumber Exports
05:30p UNITED CONTINENTAL : Decision on air-traffic control should be made on safety
05:29p CONTAINER STORE : The root cause behind TD Bank and Wells Fargo customer deception
05:27p INTESA SANPAOLO : board tasks CEO with completing purchase of Veneto banks' assets
05:27p UNION PACIFIC : Painted rocks bring smiles and honor loved ones all around town
05:23p Italian government approves orderly liquidation of two banks
05:22p WHIRLPOOL : Foundation announces Sons Daughters Scholarships
05:18p HONDA MOTOR : Dutch delight for Rossi at Assen MotoGP
Latest news
Advertisement
Hot News 
18.96%IMAGINATION TECHNOLOGIES : U.K. Chip Designer Puts Itself on Block -- WSJ
-5.33%GLOBAL LOGISTIC PROPERTIES : Says It Remains in Talks With Shortlisted Bidders
-12.28%BlackBerry misses sales forecasts, shares tumble
-1.23%Harley-Davidson Discussing Purchase of Italian Rival Ducati From VW
1.40%BOEING : Is Top Seller at Paris Air Show -- WSJ
Most Read News
06/24 Internal dossier criticises Audi top management - Bild
06/24 Lufthansa wants to help, not take over, Air Berlin - Bild
06/24 INFOSYS : to settle visa row with New York State for $1 million settlement
10:31a INTESA SANPAOLO : Italy holds emergency cabinet meeting over Veneto banks
06/24 BEIJING ENTERPRISES : Anichebe joins Chinese side Beijing Enterprise
Most recommended articles
11:27a INTESA SANPAOLO : board tasks CEO with completing purchase of Veneto banks' assets
09:15aDJAPPLE : In 10 Years, Your iPhone Won't Be a Phone Anymore
08:15aDJQuakes Giving Dutch Province 'A Makeover We Don't Want'
07:15aDJBANCO SANTANDER : Bankers Have Less to Fear from 'Stress Tests'
06:31a ASSOCIATED BRITISH FOODS : Workers at South Africa's Illovo sugar farms to strike over pay