| | |
|
USAGOLD/Peter Grant/05–8-17
Gold is slightly higher, having stabilized after yesterday’s French election turned out in line with expectations. With Macron’s victory, Frexit is off the table, much to the relief of the eurocrats in Brussels.
The new President now faces the challenge of forming a government that will allow him to implement his agenda. French parliamentary elections are June 11 and June 18. The present Socialist majority of outgoing President Francios Hollande is widely expected to be ousted; but whom takes takes their place? Macron’s newly-renamed La Republique En Marche has exactly zero members of paliament.
In defeat, Marine Le Pen has already claimed the mantel of opposition leader. That makes next month’s elections pretty important. Then of course there are the upcoming Italian elections, so the relief in Brussels is likely to be short-lived.
Today’s U.S. economic calendar is very light. There is FedSpeak from Atlanta Fed President Bullard today. Focus is on retail sales and CPI later in the week.
| |
Read the rest of the article at
USA Gold
