- MarketPulse - https://www.marketpulse.com -

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 [1]

A Big Sigh of Relief [2]

Dollar Gains Tentative Traction [3]


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam [8]

Senior Market Analyst, UK & EMEA at OANDA [9]
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

Latest posts by Craig Erlam (see all [8])