{"id":224155,"date":"2022-04-25T11:42:32","date_gmt":"2022-04-25T11:42:32","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=224155"},"modified":"2022-04-25T11:42:32","modified_gmt":"2022-04-25T11:42:32","slug":"euro","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/euro\/","title":{"rendered":"Contrary to expectations, euro reacts positively to Macron’s victory"},"content":{"rendered":"

Paris, (Business News Report)||<\/strong> The euro currency reacted positively with Emmanuel Macron’s victory in the presidency of France for a second term, unlike expectations.<\/p>\n

The euro rose against the dollar and against other strong currencies early Monday, after Macron’s re-election as money changers bet on a stronger European Union.<\/p>\n

In the early hours of trading today, Monday, in Asia and Australia, the price of the euro rose against the dollar by 0.48%, to reach $1,0842.<\/p>\n

Macron was re-elected on Sunday evening, with 58% of the vote, while his far-right opponent, Marine Le Pen, received 42% of the vote, while the abstention rate was 28%.<\/p>\n

Money changers feared the uncertainty that Le Pen’s presidency would create after she defended during a televised debate last Wednesday her desire to replace the European Union with an “alliance of countries.”<\/p>\n

“France is likely to remain an engine of growth and progress for Europe in the next five years,” said Holger Schmelding, an economist at Germany’s Berenberg bank.<\/p>\n

John Blassar, an analyst at Mirabaud Financial and Banking Group, expected that “the single currency rate will rise against the dollar.”<\/p>\n

For money changers, the main problems remain represented by the war in Ukraine affecting the European economy, in addition to the monetary policy of the European Central Bank<\/a>, which is working slower than other monetary institutions to counter inflation and raise interest rates.<\/p>\n

Sources told Reuters that monetary policy makers in the European Central are keen to end the asset purchase program and raise interest rates as soon as possible.<\/p>\n

The sources stressed to the agency that ECB officials aspire to raise interest rates in July or no later than September.<\/p>\n

They explained that the big obstacle is that the long-term expectations of inflation indicate that it will fall below the central bank target at 2%, but the new estimates that were shared with monetary policy makers at their meeting held on the fourteenth of April showed that inflation in 2024 is higher than the target.<\/p>\n

European Central Bank President Christine Lagarde said the bank will end its asset purchase program in the third quarter and that a rate hike in 2022 is a possible issue.<\/p>\n","protected":false},"excerpt":{"rendered":"

Paris, (Business News Report)|| The euro currency reacted positively with Emmanuel Macron’s victory in the presidency of France for a second term, unlike expectations. The euro rose against the dollar and against other strong currencies early Monday, after Macron’s re-election as money changers bet on a stronger European Union. In the early hours of trading […]<\/p>\n","protected":false},"author":4,"featured_media":224160,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[207],"tags":[8223,278,7714,8224],"class_list":["post-224155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-euro","tag-featured","tag-france","tag-macron"],"yoast_head":"\nContrary to expectations, euro reacts positively to Macron's victory<\/title>\n<meta name=\"description\" content=\"BNReport| The euro currency reacted positively with Emmanuel Macron's victory in the presidency of France for a second term.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/euro\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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