The EUR/USD maintained a narrow consolidation trend after opening

Huitong Network2month27Daily News - Monday（2month27On the day of trading, the euro/US dollar maintained a narrow consolidation trend after opening, and is currently still trading in1.06Below the threshold, market concerns about the French election are expected to continue to drag down the euro.

Although current polls show that Marina Le Pen, the chairman of the far right National Front in France(Marine Le Pen)The support rate of Le Pen is not as high as that of the centrist candidate Macron and the center right candidate Fillon, but investors have not yet believed that she will be out, and many people are still concerned that if Le Pen is unexpectedly elected, he may lead France out of the eurozone.

Nomura Securities stated that if the situation in France escalates, then0.97This is a critical level for the euro against the US dollar, and if Le Pen is elected, it is highly likely to reach that level. But if concerns about Le Pen's election ease, it is expected that the euro will perform well in the future, as the European Central Bank is likely to cut by the end of this yearQE。

And it is worth noting that American productsfuturesTrading Committee(CFTC)Friday(2month24day)The published report shows that as of2month16Solstice2month21During the current week, speculators' net speculative short positions in euros rose to nearly5Zhou's high indicates that investors are increasingly bearish towards the euro.

On the other hand, the US dollar index has continued to be sought after by the market in recent times and is currently still trading in101.00Above the checkpoint, this also puts pressure on the euro, but given Tuesday(2month28day)US President Trump will deliver his speech in Congress on Saturday(3month4day)Before Federal Reserve Chairman Yellen's speech, the market is expected to maintain a cautious attitude.

In terms of data, the Eurozone will be announced within the day2Monthly Economic Prosperity Index, Eurozone2The final value of monthly consumer confidence index and the United States1The initial monthly rate of durable goods orders, in addition to the Chairman of the Dallas Federal Reserve2017yearFOMCTicket Commission Kaplan(Robert Kaplan)Giving a speech, Huitong reminds investors to pay close attention.
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