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FTG Blog - Draghi Pledged 'Whatever It Takes.' It Took 1.2 Trillion Euros

Draghi Pledged ‘Whatever It Takes.’ It Took 1.2 Trillion Euros

So how much did it end up taking after European Central Bank President Mario Draghi memorably said five years ago he’d do “whatever it takes” to save the euro? Read more

FTG Blog - Dollar on defensive after Fed minutes, euro resumes rise

Dollar on defensive after Fed minutes, euro resumes rise

The dollar was on the defensive on Thursday after the Federal Reserve dialed down on some of the more hawkish policy expectations in the market, while the euro edged back up toward a 6-1/2-month high. Read more

FTG Blog - Euro Slips With Stocks After Macron's Expected Win

Euro Slips With Stocks After Macron’s Expected Win

Europe’s common currency weakened and equities dropped following a convincing defeat of populism in France’s presidential election that was already priced in by investors. Crude fluctuated as Saudi Arabia and Russia signaled output cuts will be extended.

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FTG Blog - French election relief sends Europe soaring

French election relief sends Europe soaring

Euro zone stocks headed for their best day in almost two years on Monday and the euro briefly vaulted to five-month peaks, after the market’s favored candidate won the first round of the French election, reducing the risk of another Brexit-like shock. The victory for pro-EU centrist Emmanuel Macron, who is now expected to beat right-wing rival Marine Le Pen in a deciding vote next month, sent the bluechip STOXX 50 index up 3.7 percent, France’s CAC40 over 4 percent and bank stocks up more than 6 percent.

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FTG Blog - Euro Jumps on French Result; China Selloff Resumes: Markets Wrap

Euro Jumps on French Result; China Selloff Resumes: Markets Wrap

A relief rally amid speculation that pro-growth centrist Emmanuel Macron will become France’s next president was offset by a selloff in Chinese shares. The euro jumped the most in a month, though the currency pared the steepest gains that came after Macron and far-right nationalist Marine Le Pen won the first round of voting. The yen retreated and volatility ebbed, with gold dropping and 10-year Treasury yields climbing. U.S. stock-index futures rose and Japanese shares led Asian equity gains. Shanghai shares tumbled the most since January amid heightened regulatory scrutiny.

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FTG Blog - Dollar edges down, euro resists French election volatility

Dollar edges down, euro resists French election volatility

The dollar inched lower against a basket of major currencies on Thursday, suffering from a solid performance by the euro before the first round of French presidential elections and from an improvement in sentiment towards Britain’s pound this week.

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FTG Blog - Euro Declines as Draghi Sees No Need for ECB to Change Course

Euro Declines as Draghi Sees No Need for ECB to Change Course

The euro dropped to the lowest since mid-March as dovish remarks from Mario Draghi and option hedging before the French elections weighed on the currency. The shared currency slid as the European Central Bank president said that a pick-up in inflation across the euro area isn’t yet strong enough and that “a reassessment of the current monetary policy stance is not warranted at this stage.” These comments, which push back against recent speculation about ECB tightening and calls from German banks to scale back bond purchases, led to fresh selling interest by interbank and leveraged accounts.

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FTG Blog - EU finance ministers worried about free trade after 'surreal' G20

EU finance ministers worried about free trade after ‘surreal’ G20

European Union finance ministers expressed concern on Tuesday over the future of free trade after what one of them called a “surreal” meeting of finance chiefs of the world’s 20 biggest economies at the weekend.

Breaking a decade-long tradition of endorsing open trade, G20 finance ministers and central bankers made only a token reference to trade in their communique, acquiescing to an increasingly protectionist United States after a two-day meeting in Germany failed to yield a compromise.

“The atmosphere … wasn’t negative or acrimonious. However, it was surreal because the G20 is meant to find overall cooperation,” said Finance Minister Edward Scicluna of Malta, current holder of the European Union presidency, on his arrival at a regular meeting of EU finance ministers in Brussels.

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FTG Blog - Euro Advances as Macron Emerges Most Convincing in French Debate

Euro Advances as Macron Emerges Most Convincing in French Debate

The euro rose, approaching a six-week high, as political concerns in the region were seen as easing after a poll showed anti-euro candidate Marine Le Pen losing ground in the French presidential debate.

The single currency strengthened against all of its 10 major peers after a poll showed independent candidate Emmanuel Macron emerged as the most convincing of the five contenders in the national debate, ahead of Le Pen. A combination of macro offers and option-related selling helped the euro-dollar pair gain as the debate added little to risk, according to an Asia-based currency trader who asked not to be identified because the person isn’t authorized to speak publicly.

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