Source: oanda.com

The market is finding it difficult in knowing which way to look. The current price action is filling in some of those gaps created by the initial French and Greek election results. The new French President, Hollande was not the surprise. Capital markets were already working on his winning spread. Again it was Greece, the thorn of Europe. The electorate there have managed to strip the ruling coalition of its majority, igniting concern that the region is losing its appetite for austerity. The markets will be looking towards the Franco/German axis for guidance. Hollande, the socialist declaring austerity … (read more)