Sensing the wind on the issue is at his back, Fracois Hollande is pushing for a renegotiation of the Fiscal Compact or a new treaty all together.

  • Says he’ll be firm, friendly in talks with Merkel
  • Need for avoid conflict between France and Germany
  • Markets remain calm after his first round victory
  • Says Fiscal Compact won’t be ratified by France

EUR/USD is falling back as the fiscal compact looks like it may go to its grave before ever reaching a vote…