The US Dollar was unable to hold on to Monday’s gains.
The Greenback eases a touch after headlines that Le Pen won’t run in the June French snap elections.
The US Dollar index trades just above 105.00 and flirts with nearby support levels.
The US Dollar (USD) trades flat, just above 105.00 on Tuesday, and is unlikely to move away in the coming hours unless something pivotal occurs. Despite its gains from Monday, after French President Emmanuel Macron called for snap elections in June, the sting is being taken out of the event with Marine Le Pen, head of the Far Right movement in France, will not be running in those . This actually eases the odds for an upheaval shift in the upcoming French elections, which are just three weeks away.
On the economic front, the US Dollar index (DXY) moves alongside political news out of Europe ahead of Wednesday’s main events: the US Consumer Price Index for May and the Federal Reserve (Fed) interest rate decision. Before that, two very light data elements will find their way to the markets on Tuesday: the NFIB Business Optimism Index for May and the Redbook Index for the first week of June.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.