French elections made positive impact on finances
The financial market feels the pressure of global political changes. And it is a fact. The current political situation in France helped the euro went up by the 2.5 percent during few weeks, just on the positive for the EU polls which show the leading position of centrist Macron on the presidential election.
Analysts agree that his victory in the last round of election can double euro increase, convince the ECB to prolong easing policy, etc.
Financial markets that closely rely on commodities lost the weekly gain, like Canada and Australia.
At the end of the week Canadian dollar went to its lowest numbers in 14 months, and Australian dollar is on its 4th months lowest numbers.
Meanwhile, Japanese yen is used by investors as a safe haven and it rose few points higher in a time when Japanese market is closed due to the celebration of the national holiday Golden Week.
Canadian dollar has reached 1.3793 for an American dollar, and the weaker number was noted on last year’s February. At the end of the day, it lost 0.2 percent more to the 1.3775.
As for the Australian dollar, it lost 1 point and was sold by the 0.7368 dollars. It is the lowest number since last January.
Senior trader Stephen Innes believe that currencies linked close to commodities went down because of the oil prices.
American dollar has lost 0.2 percent against Japanese yen, and was equal to the 112.27, going down from 113.045 reached yesterday.