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  • Hollande Defeats Sarkozy in Shift of Power to French Socialists

    From bloomberg.com

    Read Full Story at bloomberg.com

    Francois Hollande defeated French President Nicolas Sarkozy as voters handed control of the second-biggest European economy to the Socialists for the first time in 17 years. The 57-year-old Hollande got about 52 percent against about 48 percent for Sarkozy, according to estimates by pollsters CSA and Harris Interactive. The campaign isn’t over; France elects its lower house of parliament in five weeks. The challenger inherits an economy that is barely growing, with jobless claims at their highest in 12 years and a rising debt load that makes France vulnerable to the financial crisis that has rocked ... (full story)

    • goldfan
      goldfan's Avatar

      47 posts
    • what about gold...it might go up,right??

    • Guest

      IP XXX.XX.115.216
    • this is good for euro or not ?

    • Mosmoney

      157 posts
    • Commies back in France. What will Frau Merckel think about that? Wonder what the Euro will do when the markets open especially if Greece backs down on paying its debts. Think something's going to hit the fan bigtime. Must get those shorts in early.... Anybody disagree? ;-(

    • Guest

      IP XX.XX.165.170
    • euro is gapping down, now at 3035 at Oanda.

    • Forexgain
      Forexgain's Avatar

      531 posts
    • Quoting oneightwenty
      E/U @ 1.3027 as of now.
      Lol... E/U never went to that level. It's trading currently at 1.3083. You need to wake up and check the inter-bank rates!

    • oneightwenty
      oneightwenty's Avatar

      532 posts
    • Quoting Forexgain
      Lol... E/U never went to that level. It's trading currently at 1.3083. You need to wake up and check the inter-bank rates!
      http://www.oanda.com/currency/real-time-rates

      Oanda is open on weekends.

    • Forexgain
      Forexgain's Avatar

      531 posts
    • Quoting oneightwenty
      http://www.oanda.com/currency/real-time-rates

      Oanda is open on weekends.

      I just checked but they can't be trusted due to their spread widening. You may check the rates at XE.COM

    • oneightwenty
      oneightwenty's Avatar

      532 posts
    • Quoting Forexgain
      I just checked but they can't be trusted due to their spread widening. You may check the rates at XE.COM
      I checked the site, they are obviously displaying closed market data.

    • Forexgain
      Forexgain's Avatar

      531 posts
    • Quoting oneightwenty
      I checked the site, they are obviously displaying closed market data.
      Their market data are live, you may click on any pair you will see the real-time charts. You can see G/U climbing up by few cents. BTW if you have really looked into that site then you can see the live data refresh time delayed only by maximum of 10-30 seconds (Mid-market rates: 2012-05-06 18:54 UTC)..

      BTW rates displayed by OANDA during market close can't be relied upon even with a single cent!

    • oneightwenty
      oneightwenty's Avatar

      532 posts
    • Quoting Forexgain
      Their market data are live, you may click on any pair you will see the real-time charts. You can see G/U climbing up by few cents. BTW if you have really looked into that site then you can see the live data refresh time delayed only by maximum of 10-30 seconds (Mid-market rates: 2012-05-06 18:54 UTC)..
      Clearly, i'm wasting my time here. Check the other post here on ff, they are saying we are under 1.3045.

    • Guest

      IP XX.XX.165.170
    • Quoting Forexgain
      Their market data are live, you may click on any pair you will see the real-time charts. You can see G/U climbing up by few cents. BTW if you have really looked into that site then you can see the live data refresh time delayed only by maximum of 10-30 seconds (Mid-market rates: 2012-05-06 18:54 UTC)..

      BTW rates displayed by OANDA during market close can't be relied upon even with a single cent!
      http://www.forexfactory.com/trades.php

      Look here you can see people trading below 3040.

    • Minde

      78 posts
    • it depends on spread,oanda had 25 pips spread at one time, maybe other brokers had more or less, this is why rate is different.

    • Tw0eleven
      Tw0eleven's Avatar

      1,666 posts
    • Quoting Minde
      it depends on spread,oanda had 25 pips spread at one time, maybe other brokers had more or less, this is why rate is different.
      Correct...Oanda had a 25pip spread on EU and EJ. 20pips on AU. While 10pip spreads on GU, UCAD, UCHF, UJ!

      Wait until the market fully opens and the spreads get back to normal...then you'll have a better idea of price action.

    • Minde

      78 posts
    • its getting back to normal already 8 pips spread, in few hours it will be 1-1.2.

      i think its unfair,that they can change spread to previous orders,i understand if they change spread for new orders but if i bought it for price x, and expect to sell it for x+ 1.2 , not x+20 or 30,

      just my opinion.

    • Guest

      IP XX.XXX.110.73
    • I think bye bye euro at 1.295

    • nach-cash

      2 posts
    • i live in france and i think eur down at 1.295

    • Faller

        2,715 posts
    • you guys are nuts - it is trading lower....sorry if you were long.....suck it up. currently trading at 1.3021 - period.

    • Guest

      IP XX.XX.94.220
    • it's 3018 now

    • moaf
      moaf's Avatar

        910 posts
    • Quoting Forexgain
      Their market data are live, you may click on any pair you will see the real-time charts. You can see G/U climbing up by few cents. BTW if you have really looked into that site then you can see the live data refresh time delayed only by maximum of 10-30 seconds (Mid-market rates: 2012-05-06 18:54 UTC)..

      BTW rates displayed by OANDA during market close can't be relied upon even with a single cent!

      LOL

    • jonahky7

      4,531 posts
    • y do people long when the market sentiment is short and hoping for a miracle yet living in a deluded scenario, a miracle does not come quickly, especially for shortie sarkozy

    • factfinder

      9 posts
    • Quoting jonahky7
      y do people long when the market sentiment is short and hoping for a miracle yet living in a deluded scenario, a miracle does not come quickly, especially for shortie sarkozy
      Agreed with you Jonahky7! EU will find its destination to 1.26 if not today but this week...Long will be a luxury....

    • Tw0eleven
      Tw0eleven's Avatar

      1,666 posts
    • What I don't understand is why anyone is trading in the last couple of hours anyway. I prefer to wait until Late Sunday night or Monday to start my trading! Patience people...don't kill your accounts just yet!

    • Scrat
      Scrat's Avatar

        3,693 posts
    • i can tell from my own experience that oanda quotes are to be trusted. right now e-u is @ 1.3007, and the spread is 7 pips. it's true that spreads are wider during weekends, and in pre/post market periods, but hey, that's reasonable... most people using oanda shouldn't trade during those times.
      just my two cents.

    • Tequillo
      Tequillo's Avatar

      138 posts
    • EUR/USD is heading south as we speak guys! 130088/1.30113! Miracles can only happen in Narnia !
      And FYI, the EUR sell off will be triggers more by the outcome of the Greek elections than by the Hollande victory! Although, the latter isn't helping!

    • Guest

      IP XX.X.79.126
    • Somebody is buying all sorts with CHF. ....they don't appear to be buying Euros which are threatening the magic number again.
      Quoting jonahky7
      y do people long when the market sentiment is short and hoping for a miracle yet living in a deluded scenario, a miracle does not come quickly, especially for shortie sarkozy
      Would have been the perfect trade for him; either he wins the election OR he makes a pile of money. Or did you mean vertically challenged?

    • Fidza
      Fidza's Avatar

        287 posts
    • What I find interesting is that USD/CHF spiked up over 50 pips whilst the USD/JPY did the opposite and opened about 25 pips down from close on Friday,and there really isn't any data from Japan or Swiss to influence such a move considering they are both safe haven currencies.The SNB could be propping the Euro up slightly whilst trying to maintain the E/C floor by buying Euro,and I think to a certain extent this will limit any downward movements on the E/U pair. I am not getting in yet but my instinct tells me this pair will continue ranging and if it does indeed go south as many oracles are predicting , I doubt it will be for very long .

    • Guest

      IP XX.XXX.11.11
    • Wow!!! EUR just went jujitsu southwards, French election results i guess. Can the pair recover this wide gap any time soon?

    • Tequillo
      Tequillo's Avatar

      138 posts
    • well! The pair is finding support and bouncing back slightly! Let's wait and see until the MKTs are fully geared .

    • andretsc
      andretsc's Avatar

      7 posts
    • ok, maybe germany get out from EURO? Merkel will pay all this political chaos alone?

    • Sarkel
      Sarkel's Avatar

      148 posts
    • Quoting andretsc
      ok, maybe germany get out from EURO? Merkel will pay all this political chaos alone?
      The only country that's benefiting from being in eurozone is Germany.

    • Rana Shahzad

      72 posts
    • keep a close eye on gold, it may touch 1600 in next 72 hours or so... Eur is under a lot of pressure. No major data is due today & the existing trend may provide a chance to USD to touch skyes.... Risky Trading on the hands

    • explorer101

      358 posts
    • hmmm...take note of the silence of Lady Merkel..

      once Merkel farts about the strength of Euro and will have rhetoric speech about alliance of Hollande and her goals... hurrah! Euro the parasite will shoot to the north

      Merkel farted a lot during Greece debt default.. and Euro just wildly climbed!

    • explorer101

      358 posts
    • Quoting Sarkel
      The only country that's benefiting from being in eurozone is Germany.

      The PIIGS then..and the PIGS now benefited from the strength of Euro... the citizens just love the shopping and travel across the continent coz of cheap USD and buying power for Made in China goods is great!

    • Minde

      78 posts
    • lets wait to see where it goes now,i think US session will push eu higher.

    • jonahky7

      4,531 posts
    • Quoting explorer101
      hmmm...take note of the silence of Lady Merkel..

      once Merkel farts about the strength of Euro and will have rhetoric speech about alliance of Hollande and her goals... hurrah! Euro the parasite will shoot to the north

      Merkel farted a lot during Greece debt default.. and Euro just wildly climbed!
      Don't quite agree with this, Germany will be happy to have Euro to devalue further, good for their export. They have been in collision with ECB over firewall, EFSF etc so I don't think Merkel will fart at all. However in the next 10 days when Hollande says o sod it, austerity measures will still be in plce, then euro may shoot.

      1.30 vanilla option at NY session today, so watch for it.

    • Tw0eleven
      Tw0eleven's Avatar

      1,666 posts
    • Quoting jonahky7
      ...
      1.30 vanilla option at NY session today, so watch for it.
      Never quite understood the options in forex. So if there is a 1.30 option...do they want price to be above it or below it?

    • oneightwenty
      oneightwenty's Avatar

      532 posts
    • Quoting Tw0eleven
      Never quite understood the options in forex. So if there is a 1.30 option...do they want price to be above it or below it?
      It depends on which side of the option the price is on at the moment. Now an option @ 1.3 means a long.

    • Tw0eleven
      Tw0eleven's Avatar

      1,666 posts
    • So the NY traders want to keep price above 1.30 in order to make money off the retail traders?

    • oneightwenty
      oneightwenty's Avatar

      532 posts
    • Quoting Tw0eleven
      So the NY traders want to keep price above 1.30 in order to make money off the retail traders?
      I for one would not be surprised if that was the case.

    • jaygee

      1,996 posts
    • keep euro up, keep exports up, keep the US economy rolling. That has been my premise. I think the US is under the euro holding it up.

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