Markets Await Trump Congress Appearance

The euro rose against the dollar as weekend developments in the French presidential elections and better-than-expected economic confidence data boosted the currency, although gains were limited by underlying political risks.

The single currency climbed after euro-area economic confidence rose to the highest level in almost six years, in a sign of continued momentum in the region. That followed favorable opinion polls for independent presidential candidate Emmanuel Macron. Still, with the French election, along with next month’s Dutch vote, remaining as risk events for the currency, it is still among the worst-performing G-10 currencies against the dollar this year.


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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.