Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Forex Today: Euro Rises as RN Majority in Doubt

By Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

Initial results from the French Parliamentary election shows the far-right RN party on 33.5% of the vote, an underperformance on opinion polls and probably short of what will be required to win a majority, putting a bid into the Euro.

  1. Initial results from the Parliamentary election in France have shown the far-right RN party in the lead on 33.5% of the vote. Opinion polls had put the likely tally higher, and the major left-ring party has performed a bit better than expected, with the President’s centrist alliance coming third. The RN’s performance is starting to look like it won’t be quite enough to win a majority, and that is boosting the Euro today. The major left-wing party will be standing down candidates in constituencies where it did not come first or second to allow for tactical voting to keep the RN out of absolute power. However, there is no doubt that the RN coming first with over one third of the vote is a sea change in French and possibly Europe-wide politics.
  2. The Japanese Yen is continuing to weaken, with the USD/JPY currency pair trading above ¥161 with the multi-decade high price in sight less than 25 pips away. Trend traders will be interested in being long of this pair, and/or in certain Yen crosses.
  3. In the Forex market, the Euro is the strongest major currency since the Tokyo open, while the Japanese Yen and the Swiss Franc are the weakest, putting the EUR/JPY cross in focus today. It is worth noting that the US Dollar remains within a valid long-term bullish trend.
  4. Stock markets are mixed on the day but long-term bullish.
  5. Markets are awaiting releases of German Preliminary CPI and US ISM Manufacturing data today, with German inflation expected to show a month-on-month increase of 0.2%.

Ready to trade our Forex daily forecast? We’ve shortlisted the best FX trading platforms in the industry for you.

Top Forex Brokers

1
Get Started 74% of retail CFD accounts lose money Read Review
Adam Lemon
About Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

 

Most Visited Forex Broker Reviews