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Vote count puts Euro in focus

Vote count puts Euro in focus

Asia Pacific markets look steady as modestly positive leads from Friday night help offset ongoing trade jitters. Holidays tonight in the UK and the US give further reasons for calm, despite the Brexit driven resignation of Prime Minister May over the weekend. A surge in European voter numbers to twenty-year highs has forex traders examining the results for potential Euro impact.

The large voter turn-out may work against centrist parties in Europe. Exit polls have allayed concerns about a swing towards extremism, and the Euro is trading higher this morning. The actual results may vary significantly, and the morning session could evolve sharply if early indications are confounded.

Oil and metals markets are steady to positive, largely on a weaker US dollar. The demand outlook is still clouded by the trade dispute between China and the US. US president Trump begins discussions with Japan’s Prime Minister Abe in Tokyo today after a weekend of photo opportunities, and markets generally remain vulnerable to tweet and headline risk.

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