EUR/USD continues to rise despite the initial surprise from France's election results.
A leftist alliance unexpectedly took the lead and kept Marine Le Pen's far-right party out of the leadership race.
Fed Chair Powell will deliver “The Semi-annual Monetary Policy Report" to the US Congress on Tuesday.
EUR/USD continues its winning streak for the sixth day, trading around 1.0830 during the Asian session on Tuesday. The Euro continues to advance as investors digest the initial shock of France's election results. A surprise leftist alliance has taken the lead, preventing Marine Le Pen's far-right party from dominating the leadership race following a significant upset in previous European Parliamentary elections.
OCBC FX analysts Frances Cheung and Christopher Wong observed that the Euro began the week with a slight decline following unexpected results in the second round of elections. They noted, "A leftist-dominated government was the least anticipated and raised concerns due to potential increases in public spending, which could further strain public finances."
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