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The euro gapped up against major currencies after Macron finished first in the French presidential election's first round. EUR/USD held the gap and rose toward resistance near 1.095, a five-month high, two days later.
Sustained euro strength against the dollar lowers the dollar cost of euro-zone feed and oilseed imports. The move is driven by politics and currency flows rather than feed fundamentals.
forex.comGlobal authorApr 25, 2017After 18 past bullish geopolitics events, Euro (USD per EUR) moved a median +1.9% over 5 sessions (83% higher; middle half +0.9% to +2.0%), and +2.0% over 20.
After 33 past bearish geopolitics events, US Dollar (Broad) moved a median -0.6% over 5 sessions (33% higher; middle half -1.5% to +0.2%), and -0.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
