{"id":3559,"date":"2017-05-11T00:00:00","date_gmt":"2017-05-11T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100019-usd-eur-comey-firing-macron\/"},"modified":"2017-05-11T00:00:00","modified_gmt":"2017-05-11T04:00:00","slug":"100019-usd-eur-comey-firing-macron","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100019-usd-eur-comey-firing-macron\/","title":{"rendered":"USD\/EUR Negativity for The Dollar and The Euro Keeps Exchange Rate Ste"},"content":{"rendered":"<p>There has been very little movement in the euro U.S. dollar exchange rate for the majority of the day. Negative forces on both sides of the currency pair equaled out &#8211; the euro U.S. dollar exchange rate hovered around $1.0865. Following Macron\u2019s win in the French elections on Sunday, the EUR\/USD briefly jumped to a high of $1.1010 before quickly dropping again, where it\u2019s been under struggling ever since.<\/p>\n<h2><a href=\"#political-concerns-following-that-firing-keeps-the-dollar-down\" name=\"political-concerns-following-that-firing-keeps-the-dollar-down\"><\/a>Political concerns following \u201cthat firing\u201d keeps the dollar down<\/h2>\n<p>On the one hand, political jitters following U.S. President Trump\u2019s Nixonian firing of the Director of the U.S. FBI, James Comey shocked the markets and kept the dollar depressed. Should this be the start of a political storm, then Trump could be distracted from pushing his inflation-boosting policies such as corporation tax cuts and infrastructure spending through Congress. Without these expansionary policies, the outlook for inflation and interest rate hikes in the U.S. could be lower, which would lead to a sell-off in the U.S. dollar and an increase in the euro U.S. dollar exchange rate.<\/p>\n<h2><a href=\"#ecb-president-draghi-disappoints-with-his-defence-of-the-low-interest-rate-environment\" name=\"ecb-president-draghi-disappoints-with-his-defence-of-the-low-interest-rate-environment\"><\/a>ECB President Draghi disappoints with his defence of the low interest rate environment<\/h2>\n<p>On the other hand, disappointment was felt in Europe after European Central Bank (ECB) President Mario Draghi\u2019s failed to live up to expectations regarding eurozone monetary policy and potential interest rate rises in a recent speech.<\/p>\n<p>Given that the French elections stabilized the outlook for the eurozone, with the defeat of eurosceptic LePen by pro-euro pro-business Macron, it was assumed there may have been a higher probability of interest hikes. Plus the fact that the eurozone economy appears to be going from strength to strength as more and more data released from member countries is coming in ahead of analyst\u2019s expectations.<\/p>\n<p>When combining these two factors, the outlook is positive and therefore the expectation was that Draghi would have been more supportive in his comments of an increase in interest rates. That isn\u2019t to say he would increase rates at all, but investors were looking for bigger hints and instead they received an almost straight-out defence of the ultra- low interest rate environment which currently covers the eurozone.<\/p>\n<p>With no sign of a rate rise on the horizon, the euro will struggle to move higher, as lower interest rates mean lower foreign investment, less demand for the currency and therefore a depressed value.<\/p>\n<p><small><em><br \/>\nThis publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Inc., Currency Live or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. Consult our <a href=\"https:\/\/currencylive.com\/risk-warning\/\">risk warning<\/a> page for more details.<\/em><\/small><\/p>\n<p><small><em>This article was initially published on TransferWise.com from the same author. The content at Currency Live is the sole opinion of the authors and in no way reflects the views of TransferWise Inc.<\/em><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There has been very little movement in the euro U.S. dollar exchange rate for the majority of the day. Negative forces on both sides of the currency pair equaled out &#8211; the euro U.S. dollar exchange rate hovered around $1.0865. Following Macron\u2019s win in the French elections on Sunday, the EUR\/USD briefly jumped to a [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":3560,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379,1381],"tags":[1395,1398],"class_list":{"0":"post-3559","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"category-usd","10":"tag-eur","11":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/EUR Negativity for The Dollar and The Euro Keeps Exchange Rate Ste - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/100019-usd-eur-comey-firing-macron\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100019-usd-eur-comey-firing-macron\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100019-usd-eur-comey-firing-macron\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/EUR Negativity for The Dollar and The Euro Keeps Exchange Rate Ste\",\"datePublished\":\"2017-05-11T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100019-usd-eur-comey-firing-macron\\\/\"},\"wordCount\":571,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100019-usd-eur-comey-firing-macron\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100019-usd-eur-comey-firing-macron.jpg\",\"keywords\":[\"eur\",\"usd\"],\"articleSection\":[\"EUR\",\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2017\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100019-usd-eur-comey-firing-macron\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100019-usd-eur-comey-firing-macron\\\/\",\"name\":\"USD\\\/EUR Negativity for The Dollar and The Euro Keeps Exchange Rate Ste - 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