Open trading account 
The euro is moving lower on Friday. The exchange rate at 1315 GMT trades near the 1.07 level. The exchange will likely remain squeezed between the 1.0686/59 level, which represents a strong cluster formed by the 20 and 55-day SMAs, the monthly PP and the weekly R1, and the 1.0729 level, where the weekly R2 is located at.
Sterling is moving lower after disappointing March retail sales. Retail sales dropped to 1.7% year-over-year in March, falling behind analysts 3.4% forecast and from 3.7% previously reported.
Dollar/yen is once again moving closer the 109 level, where hopefully demand will keep the exchange afloat. France has been hit by a suspected terror attack days before a presidential election and that boosts safe haven demand.
Gold is above the 1.280 level at 1315 GMT and it seems able to close above it before the weekend.
France will go to the polls on Sunday and the latest polls showed Macron in the lead with 23.8% support, followed by a 22.1% support for close-rival Marine Le Pen. Fillon stands at 19,6%, while Melénchon is at 19% and Hamon with only 7.6%.
Macron held talks in Berlin during March. The 39-year-old candidate seems to be Chancellery favorite candidate.
After those encounters, Sigmar Grabiel, the German Social Democrat politician that serves as Minister for Foreign Affairs and Vice Chancellor said (stated in an article released on POLITICO):
If Macron takes the lead this weekend, he will likely defeat his challenger in the second round according to polls.
Maybe this will be the start of a new political scenario in Europe, with a 39-year-old President leading euro area’s 2nd largest economy.
Hopefully the start of Grabiel’s political scenario for Europe after Brexit.
I’ve also read an article with an interesting title about my country, Portugal. It’s a Bloomberg article entitled: Portugal Is a Keynesian Mirage.
The author of it, Ferdinando Giugliano stated:
Without public investment, inflation will likely remain subdued in peripheral euro area member countries. While wages and overall average monthly income will remain stagnant till the end of the decade.
Unemployment remains high in peripheral countries, despite some encouraging lows recorded in euro area’s aggregate gauge.
Recall that recovery has been fueled by bond yields discounts, due to ECB’s intervention. Which is being reduced since this month on.
Giugliano finished:
Sterling is moving lower after disappointing March retail sales. Retail sales dropped to 1.7% year-over-year in March, falling behind analysts 3.4% forecast and from 3.7% previously reported.
Dollar/yen is once again moving closer the 109 level, where hopefully demand will keep the exchange afloat. France has been hit by a suspected terror attack days before a presidential election and that boosts safe haven demand.
Gold is above the 1.280 level at 1315 GMT and it seems able to close above it before the weekend.
France will go to the polls on Sunday and the latest polls showed Macron in the lead with 23.8% support, followed by a 22.1% support for close-rival Marine Le Pen. Fillon stands at 19,6%, while Melénchon is at 19% and Hamon with only 7.6%.
Macron held talks in Berlin during March. The 39-year-old candidate seems to be Chancellery favorite candidate.
After those encounters, Sigmar Grabiel, the German Social Democrat politician that serves as Minister for Foreign Affairs and Vice Chancellor said (stated in an article released on POLITICO):
With Macron in France and Schulz in Germany (...) we could change a few things in Europe.
If Macron takes the lead this weekend, he will likely defeat his challenger in the second round according to polls.
Maybe this will be the start of a new political scenario in Europe, with a 39-year-old President leading euro area’s 2nd largest economy.
Hopefully the start of Grabiel’s political scenario for Europe after Brexit.
I’ve also read an article with an interesting title about my country, Portugal. It’s a Bloomberg article entitled: Portugal Is a Keynesian Mirage.
The author of it, Ferdinando Giugliano stated:
According to data from the Portuguese Public Finance Council, Lisbon cut public investment by 28.9 percent last year. Only 2.9 billion euros were spent on roads, hospitals, and suchlike. This is equivalent to a meager 1.6 percent of GDP, the lowest since at least 1995, and less than a third of the pre-crisis peak of 2010.
Without public investment, inflation will likely remain subdued in peripheral euro area member countries. While wages and overall average monthly income will remain stagnant till the end of the decade.
Unemployment remains high in peripheral countries, despite some encouraging lows recorded in euro area’s aggregate gauge.
Recall that recovery has been fueled by bond yields discounts, due to ECB’s intervention. Which is being reduced since this month on.
Giugliano finished:
Portugal’s government is redistributing the fruits of this recovery, but failing to plant the seeds for a new crop.
