

Euro climbs following first-round election vote in France

The National Rally (RN) party by Marine Le Pen won the first round of the parliamentary elections, but with a smaller share of the vote than some polls had predicted. This development came as a relief to markets concerned about potential expansionary and unsustainable fiscal policies from a stronger far-right presence. This result led to a modest rise in the euro, with EURUSD trading at $1.0737, up 0.24%, after touching a one-week high of $1.0749 earlier in the session. The underperformance of RN reduced fears of aggressive fiscal policy, thereby supporting the euro. Read more to find out what will happen to EURUSD.

what will happen to eurusd

Disclaimer:

The trajectory of inflation and economic data through the summer will be crucial in determining the likelihood of a Federal Reserve rate cut in September. Caution is advised while the markets are trading in an optimistic state.

Publication date:

2024-07-02 05:21:56 (GMT)

The terms and conditions of use set out below (referred to as "FX Blue's Terms"), form a contractual agreement governing FX Blue's relationship with you in relation to your use of this Website (“Agreement”) and you agree to be legally bound by FX Blue's Terms just as if you had signed this Agreement. By using this Website and any Information, you are agreeing to comply with and be bound by FX Blue's Terms, including any revisions that may be made to FX Blue's Terms from time to time. FX Blue reserves the right, in FX Blue's sole discretion, to change, modify, add or remove portions of FX Blue's Terms at any time by posting the revisions on the Website. You should check FX Blue's Terms periodically for changes as by using the Website after FX Blue posts any changes to FX Blue's Terms, you are agreeing to accept those changes, whether or not you have reviewed them, and you waive any right you may have to receive individualised notice of such changes. FX Blue's Terms may be supplemented by additional terms and conditions pertaining to specific content and activities. You agree and understand that such additional terms and conditions are hereby incorporated by reference to FX Blue's Terms. Your continued use of the Website means that you accept any new or modified FX Blue Terms.