Home EUR: Range-Trading Into French Elections; GBP: Sell Rallies –
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EUR: Range-Trading Into French Elections; GBP: Sell Rallies –

Markets are back from the Easter holidays and it’s time to rumble. Or is it? The euro could get stuck ahead of the French elections.

Here is their view, courtesy of eFXnews:

CitiFX Research argues that  as French elections are looming, investors may be reluctant to take positions.

This is likely to see range trade in EUR in the days ahead, with some scope for downward drift,” Citi adds.

On the GBP front, Citi notes that the key data release will be the UK retail sales on Friday where weak BRC numbers set up for further moderation in consumption on the official release.

GBP remains relatively sidelined in our view and we still rather sell rallies,” Citi argues.

EUR/USD is trading circa 1.0639 ,and GBP/USD is trading circa 1.2556 as of writing.

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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.