Full Market Analysis for the Next Week! How French Election on Sunday affects the Market?

April 21, 2017

1 st round of French Elections, ECB & BoJ meetings, key data in focus.

Full Market Analysis for the Next Week! How French Election on Sunday affects the Market?

This article is originally referred from FXGiants News

Weekly Market Outlook for April 24th – 28th by FXGiants.

Next week’s market movers

  • In France, we have the 1st round of the French presidential election. Given that among the leading candidates there are two Eurosceptic, the outcome would have a significant impact in the markets.
  • We expect the ECB to offer no changes and maintain a balanced tone, given officials’ yield concerns and that the meeting takes place before the second round of the French election.
  • We believe that the BoJ will leave policy unchanged, but may revise down its inflation forecasts.
  • We also get key economic data from the US, the UK, Eurozone, Japan, and Australia.

On Sunday, we have the 1 st round of the French presidential election, but the final outcome is unlikely to be sealed on that day. According to the opinion polls, there is no candidate gaining the absolute majority, so a second round between the two leading candidates is very likely to be held on the 7th of May.

A couple of weeks ago, the leading candidates were three: Emmanuel Macron, Marine Le Pen, and Francois Fillon. Nevertheless, following a strong performance in the TV debates, left-wing candidate Jean-Luc Melenchon enjoyed a stellar rise of support. His program displays a similar Eurosceptic stance to Le Pen’s. He advocates for holding a “Frexit” referendum as well. Therefore, a run-off between him and Le Pen seems to be the biggest risk scenario for the financial world…

FXGiants Weekly Market Outlook for April 24th – 28th

Original Source: FXGiants News

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