Macron has secured the victory of the French Presidential elections. This week will be initially dominated by the result, which will be positive for risk-assets and for the Euro FX. We also have G7 starting at the end of the week.
USD: last week closed with decent Jobs data, but this week will be less eventful. CPI ,US Retail Sales, Business inventories and Univ of Mich consumer sentiment are all released on Friday. FOMC’s Kaplan (Tue) and Dudley (Thur) the only highlights earlier in the week. FOMC’S Evans & Harker wrap up the week.
EUR: bit more action compared to US. Ger Industrial Orders (Mon), Ger IP and trade data (Tue), Draghi on the wires (Wed), Ger Q1 flash GDP and EZ IP (Fri).
GBP: all data is released on Super Thursday. UK IP & trade data along with BOE policy decision and Inflation Report.
CAD: Crude Oil will dictate the Loonie’s movements in the absence of any influential data.
Asia: fairly busy week for China with Trade data (Mon), PPI and CPI (Wed).
Australian data in the week ahead includes Building Approvals (Mon), NAB Business Survey and Retail Sales (Tue)
Nzd is also in for a big week with RBNZ (Wed) with ensuing presser by Wheeler. On Friday we’ll have NZ Manuf. Index.
Going into the week I remain bullish on global equities, bearish Silver & Gold, bullish Eur & GBP, bearish Jpy. NZD will also be interesting to watch, in anticipation of the RBNZ.
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