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Macron’s “Victory For The World” Sparks $300 Million Panic-Dump In Gold Futures

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Zero Hedge
May 8, 2017

Two words – “priced in.”

Despite what Hillary Clinton proclaimed “a victory for the world”

Macron’s win in the French presidential election has left capital markets with a whole lot of nothing…

EURUSD managed to run a few stops above 1.10 but went nowhere…

  • A d v e r t i s e m e n t

EURJPY (which has been higher beta throughout the turmoil) did vacillate a little but the size of the move is very modest…

S&P futures opened with a spike but are rapidly fading back…to unchanged

But there is one market that saw a sizable move (and heavy volume – standard $300 million notional dump into extremely thin markets).

But that is bouncing back too.

So – all in all, a big anti-climax. But of course with SNB and BOJ buying to come, who knows where we open at 930am ET tomorrow…

This article was posted: Monday, May 8, 2017 at 5:59 am

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