European Markets Rally after Macron Wins French Elections

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EU Markets Rally on Macron Victory

WED 10/5: RBNZ Interest Rate Decision to Affect the Kiwi

THU 11/5: BoE Interest Rate Decision to Affect the GBP

 

 

Last Week’s Recap – Strong NFPs Push Dollar and US Markets Higher!

Last week kicked off on a somewhat sluggish note as E.U. markets remained closed for Labour Day. Later within the week the Federal Reserve left rates unchanged in the U.S. while the E.U. raised the price on its divorce from the U.K. to €100B from a previous 50B. The week ended with a stronger than expected Non Farm Payrolls report. Specifically, the latest jobs report revealed that the the U.S. economy had added 211,000 jobs last month.*

 

Monday Morning Briefing – European Markets Rally after Macron Wins French Election

Pro-European Union candidate Emmanuel Macron secured a comfortable victory in the French elections on Sunday which reassured the EU Markets that France will not be leaving the union anytime soon. Investors had already predicted a decisive victory for Macron would be the most likely outcome, yet his victory was still reassuring enough to push EU indices higher. The pro-European candidate defeated his far-right rival Marine Le Pen with a sweeping majority of 66 percent!*

 

WED 10/5 – RBNZ Interest Rate Decision to Affect the KiWi

The Reserve Bank of New Zealand is meeting this Wednesday and the latest interest rate decision will be announced at 21:00 GMT. RBNZ governor has previously commented that the next move in interest rates would be up, “but not until mid-2018”, so current consensus is that the rates will be kept unchanged. It should be noted that a hawkish stance by the RBNZ governor could still push the Kiwi higher.**

 

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THU 11/5 – BoE Interest Rate Decision to Affect the GBP

With the base rate at a record low of 0.25%, the Bank of England is not expected to raise key interest rates this Thursday, at 11:00 GMT. It should be noted however, that one member of the committee had voted for a 25 basis-point hike in their previous meeting. Even though the possibility of a hike remains very low, a surprise rate hike would cause the GBP to rally against its major rivals.**

 

BDSwiss is offering a LIVE Trading Session on the day of the BoE meeting!

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*Source: Bloomberg
**Source: Investing.com

 

View all Important economic releases & events this week:
https://www.bdswiss.com/economic-calendar/

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