Over the weekend it was revealed that French President Emmanuel Macron’s centrist party is set to dominate the parliamentary elections after the first round showed on Sunday. Current projections from the first round of voting estimate that Macron could claim as many as 445 seats of the 577 available.
While the euro has consistently outperformed sterling of late because of the ongoing political uncertainty, it did slide slightly against the US dollar. The main reason for this is most likely a light calendar and pending risk, with a US interest rate decision due on Wednesday.
Today we have the German ZEW economic sentiment set for release. To provide an indicator of economic health, the ZEW surveys about 275 German institutional investors about their view on the six-month economic outlook for Germany.