This week traders will be positioning themselves ahead of the coming FOMC meeting early in May. The uncertainty around who would be leading France has now passed, so the EURUSD should be more directional, however, the uptick in voting for Le Pen will now be a concern for the June French Parliamentary elections. At the end of the week, the US PCE will give more colour to the economic outlook that the Fed will use when deciding on how big to go with their rate hike.
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