Yesterday’s focus was on the release of the first quarter (Q1) gross domestic product (GDP) numbers from the Eurozone. The growth number hit expectations of 0.5%, but more importantly (given the tensions of the Brexit bill), it surpassed the UK figure of 0.3%.
Meanwhile, there was further positive news for the Eurozone, as German unemployment dropped by more than expected. The rate decreased by 0.2% month on month to 5.8%.
Throughout the remainder of the week, there will be significant attention paid to the weekend’s French elections. Current polling shows Macron on track to win 59% of the vote versus an astonishingly high 41% for the far-right Le Pen. That gap has narrowed in the last couple of days which could spook the markets, as could polling figures for other recent referendums.
We also have the Spanish unemployment figures and ECB President Mario Draghi’s speech in Switzerland to come.