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Polls opened Sunday for France's National Assembly elections and Macron's La Republique En Marche party is projected to win a huge majority in Parliament.
Macron’s party is expected to win more than 400 seats in the lower house after Sunday's second round of voting concludes. A huge margin given the total 577-seat lower house.
The euro will likely react to Macron’s projected victory and if the previous mentioned scenario turns real, the euro might surge against the US dollar above the 20-day SMA at 1.1212. Consider that the EUR/USD closed the previous week at 1.1196.
The week ahead offers a bunch of economic data and reports. Though a bit softer that the previous week, where 3 major central banks gathered, the Fed, the BOE and the BOJ.
On Monday, the BOJ will update its May Trade Balance data. On Tuesday, the RBA will release its June meeting minutes, Germany will release its May Producer Price Index and the Fed its monetary policy report.
On Wednesday, the BOJ will release last week's monetary policy minutes and the ECB will gather for a non-monetary policy meeting. Later in the session the RBNZ will gather and announce its interest rate decision. The interest rate will likely remain unchanged at 1.75% after weaker than expected Q1 GDP released last week. Other lower than expected economic figures, such as Q1 current account favours no change in the interest rate.
On Thursday, there are no releases regarded as market movers. It’s a soft intraday calendar starting with the Japanese foreign investments in stocks and bonds, the US jobless claims and the Eurozone consumer confidence.
On Friday, there is a busy intraday calendar with several interesting releases. The morning will start with the French Q1 GDP final version, followed by the German and Eurozone June PMIs flash release, finalized with Italian industrial sales and orders data. The afternoon will offer the Canadian May CPI report, the US June PMIs and finally US May new home sales change.
Macron’s party is expected to win more than 400 seats in the lower house after Sunday's second round of voting concludes. A huge margin given the total 577-seat lower house.
The euro will likely react to Macron’s projected victory and if the previous mentioned scenario turns real, the euro might surge against the US dollar above the 20-day SMA at 1.1212. Consider that the EUR/USD closed the previous week at 1.1196.
The week ahead offers a bunch of economic data and reports. Though a bit softer that the previous week, where 3 major central banks gathered, the Fed, the BOE and the BOJ.
On Monday, the BOJ will update its May Trade Balance data. On Tuesday, the RBA will release its June meeting minutes, Germany will release its May Producer Price Index and the Fed its monetary policy report.
On Wednesday, the BOJ will release last week's monetary policy minutes and the ECB will gather for a non-monetary policy meeting. Later in the session the RBNZ will gather and announce its interest rate decision. The interest rate will likely remain unchanged at 1.75% after weaker than expected Q1 GDP released last week. Other lower than expected economic figures, such as Q1 current account favours no change in the interest rate.
On Thursday, there are no releases regarded as market movers. It’s a soft intraday calendar starting with the Japanese foreign investments in stocks and bonds, the US jobless claims and the Eurozone consumer confidence.
On Friday, there is a busy intraday calendar with several interesting releases. The morning will start with the French Q1 GDP final version, followed by the German and Eurozone June PMIs flash release, finalized with Italian industrial sales and orders data. The afternoon will offer the Canadian May CPI report, the US June PMIs and finally US May new home sales change.
