Collinson Forex - Economic Update

Collinson Forex Daily Email: Australia

Commentary

Markets exploded in reaction to the first round of the French Presidential elections. The French CAC rallied over 4%, with Centrist candidate Macron, leading through to a run-off with LePen. Polls predict an easy win for Macron, who has been endorsed by the traditional left and right wing parties, but it is a two horse race?! The next two weeks look like a cruise to victory, but any hint of a 'Brexit' or 'Trump' , will cause massive upheaval in markets. The EUR rallied to 1.0930, despite a push from the Dollar, reflected in the Yen which moved to 111.10! Markets were closed for ANZAC day in Australia and NZ, with the currencies drifting, due to a rising reserve. The AUD slipped back to 0.7525, while the KIWI plunged through 0.7000, settling around 0.6950. Global economic data releases are plentiful for the coming week and should provide market direction with incidental Geo-Political events.

Headlines

24/4 UK House Prices, German IFO Business Climate, EU Debt/GDP, Chicago Fed National Activity Index, Dallas Fed Manufacturing

25/4 US House Price Index, S&P Case-Shiller Home Price Index, US New Home Sales, US Consumer Confidence, Richmond Fed National Activity Index

26/4 Australian Consumer Confidence, Australian CPI, NZ Credit Card Spending, US Weekly Mortgage Applications, Retail Sales Revision

27/4 German Retail Sales, German Consumer Confidence, EU Consumer Confidence, ECB Rate Decision, German CPI, US Durable Goods Orders, US Weekly Jobless Claims, US Pending Home Sales, Kansas City Fed Manufacturing

28/4 NZ Building Permits, NZ Trade Exports/Imports, Japan CPI, France GDP, UK GDP, EU CPI, US GDP, University of Michigan Confidence

Exchange Rates updated 26/04/2017 6:22:30 a.m.

Rates are indicative only and indicate a midpoint between buy and sell prices