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Published on 21 Apr 2017
On
Sunday France goes to the polls, for an election where there is no
clear front runner. In fact having been a 3-horse race just a few weeks
ago with Emmanuel Macron, Francois Fillon and Marine Le pen it is now a
four-horse race with Jean Luc closing the gap. The two candidates who
get the most votes will then face off in a run-off election on May 7.
The election will decide the direction of France's 2.2 trillion euro
economy, which vies with Britain for the rank of fifth largest in the
world.
Nicholas Cawley looks at the potential impact on the euro for various outcomes.
With so much uncertainty surrounding the election, be very aware of the risk of gapping in related markets.
Also
of note, the next chapter in the Brexit saga happens on Wednesday when
UK Prime Minister Theresa May meets Jean-Claude Juncker and Michael
Barnier in London. They will be discussing the process of the Article 50
negotiations between the EU 27 represented by the commission and the
United Kingdom.
That’s followed on Saturday by an EU summit on
Brexit. Having seen sterling holding multi-month highs against the
dollar following the announcement of a UK general election, we look at
where it could head next.
Other key economic data to watch out for in
Europe include, the German IFO on Monday, German consumer confidence on
Thursday, the ECB interest rate decision on Thursday and first quarter
GDP for France and the UK on Friday.
Also of note next week a host of
large cap UK, European and US companies report first-quarter earnings,
including the likes of Twitter, Barclays, GlaxoSmithKline, Amazon, and
UBS.
In a week when we could see a lot of volatility in the markets Nick also looks at Silver, which is currently testing 1778.
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