Market sentiment remained buoyant as French election outcome removed some of the political uncertainties in the near term. Wall Street strengthened, carrying forward the risk appetite after the election. Revelation of Trump’s tax plan has also helped lift sentiment. Benchmark stock indices DJIA and S&P 500 indices gained +1.05% and +1.08% respectively. Treasury prices weakened. In the FX market, the euro retreated after the post-election spike with EURUSD ending the day +1.31% higher.
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Crude Oil Prices Dropped Despite Improved Risk Appetite. Concerns over Surplus Lingered
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