A very busy day for markets, French election looms

April 21, 2017

A really hectic day for, with plenty of announcements from around the world. The French election (first round run-off) is only two days away as well.

The UK are releasing Retail Sales figures later tonight. This figure is vital because the retail sector is such a large part of the UK economy. A healthy retail sector is not only good because of the headline figure, but it can also reflect an underlying confidence within the economy. When economies are in an economic downturn, it is usually the retail sector that gets hit first, as the sector is made up of a lot of discretionary products and services. These are the products and services that consumers spend their disposable income on as choice when times are good. However, if a downturn hits, then the first thing that consumers cut back on is discretionary products and services. Also out of the UK, MPC Member, Michael Saunders, is due to speak.

Elsewhere around the world:

Europe – European, German & French Flash Manufacturing PMI’s, European, German & French Flash Services PMI’s and European Current Account.

US – Flash Manufacturing & Services PMI’s, Existing Home Sales. Fed Reserve Member, Neel Kashkari, is due to speak.

Canada – CPI, Common, Median, Trimmed & Core CPI’s.

General – IMF Meetings.

Finally, the French elections are being held this weekend. This is the first round run-off. This means that if no candidate gets more that 50% of the vote (which is not expected), then the top two candidates will be selected to participate in the second round of voting. A President will finally be selected from this round of voting. This first round will likely bring with it plenty of volatility as there are a few strong candidates. This first round of voting will give us a strong indication of the voting sentiment of the French public, as there are some strong opposing views between the various candidates.