Macron Faces Strikes Over Labor Market Reforms

Union hardliners make their push against President Emmanuel Macron’s landmark labor-market reform Tuesday with strikes and demonstrations across France.The CGT, the main union holdout against Macron’s plan to add flexibility to the labor code, says 180 demonstrations are planned nationwide and 4,000 strike notices have been filed. Commuter trains will be disrupted though high-speed services including the Eurostar to London and Thalys to Brussels will operate normally, train operator SNCF said. Oil refineries may also shut for part of the day, the CGT said.Macron, who is down in the polls and battling critics on several fronts, will be hoping for limited disruption to transport and a modest turnout at the demonstrations as he prepares to to push through the reform on which he has staked both his political capital and his economic strategy for the next five years. Labor activists, meanwhile, need a show of unity and popular support to stand a chance of watering down the changes and slowing his momentum on a host of other issues such as pensions and public spending.

Source: Macron Faces Union Pushback on Labor Rules as Critics Swirl – Bloomberg

A Big Sigh of Relief

Dollar Gains Tentative Traction

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.