020 7898 0500Despite the lack of economic data coming from the Eurozone yesterday, we saw the euro continue its decline from the early highs of Monday morning. This is largely due to fears that Emmanuel Macron won’t be able to implement many of his proposed reforms, although other factors are likely involved too.
For, while Macron won convincingly, a breakdown of the voting numbers and turnout showed that he might not have the backing of the nation, making his tasks all the more difficult. The challenges he faces were brought to the fore with news of post-election protests in Paris after his victory.
It is fairly quiet today, with the market likely to continue to digest the news from the weekend. European Central Bank President Mario Draghi is due to speak later today, where he is expected to discuss the impact of monetary policy at the Dutch House of Representatives. The market will keep a close eye what he says for clues on future policy.
The main release to note this week is the first release of Q1 German GDP on Friday. As the region’s largest nation, it will be impactful if varying from expectations.
