Список проголосовавших за комментарий " Currency Commentary: Euro Rallies on French Elections<ul><li>The <strong>Dollar Index</strong> tumbled below its 200-sma (99.10) as a risk on rally following the French elections led to a surge in euro bids. The DXY is now at its lowest level since the U.S. elections as it breaks through key support levels. The weaker dollar does help provide some relief to the Fed if it wants to further raise rates. The focus will turn to micro this week as we have the busiest week of earnings in 10 years against a relatively calm macro back drop. But the Q1 GDP numbers will garner plenty of attention at the end of the week. </li><li>The <strong>euro</strong> has jumped above its 200-sma in reaction to the French elections. The results were largely in line in and Macron and LePen will face off in the second round of elections. Given the accuracy of polls in the first round, we would expect to see them continue to hold influence over the euro in coming weeks. Markets will be watching closely as establishment has thrown its weight behind Macron's EnMarche while the fourth place finisher Melechon's crowd and its anti-EU rhetoric may follow the LePen trail. The ECB will be meeting on Thursday and it will be interesting to see if these results change the outlook for the central bank. It is unlikely but we would expect to see the 200-sma (1.0848) play a key role ahead of the second round elections.</li><li>The <strong>pound</strong> has been consolidating in a tight range between 1.2760-1.2860 since its run up early last week. The ability to hold its gains is certainly encouraging. The French elections will also play in here as Macron has said he would favor tough negotiations with the U.K.. </li><li>The <strong>yen</strong> tumbled back to the 110 area in the risk off trade. The Bank of Japan is meeting on Wednesday night but there are little expectations around the meeting as the bank is expected to remain on its current course.</li><li>The <strong>yuan</strong> remains a non-event despite the aggressive selling in equities. Markets are nervous about a potential slow down as the government continues to take steps to cool aggressive credit expansion that has fueled a property bubble. But those actions have had little impact on the yuan which has remained in the 6.86-6.89 area over the past two weeks (BONDX, FOREX). </li></ul>"