25/04/2017 - Hollande To Back Macron

EUR

Investors around the world breathed a  collective sigh of relief after Emmanuel Macron reached the final round of voting in the French Presidential election. Independent centrist Macron, will face the far-right National Front candidate Le Pen in the run-off vote on 7th of May.
 
France's outgoing president, Francois Hollande, on Monday urged people to back Emmanuel Macron in a vote to choose his successor next month and reject far-right leader Marine Le Pen, whose place in the runoff represented a "risk" for France.
 
Hollande, threw his weight behind macron, saying Le Pen's policies were divisive and stigmatised sections of the population. Opinion polls indicate that he will take at least 61 percent of the vote against Le Pen after two defeated rivals pledged to back him to stop her eurosceptic, anti-immigrant platform.
 
There was further positivity for the Euro  yesterday as German business sentiment rose to the strongest level in almost six years in a sign that the momentum in Europe’s largest economy is set to continue. The Munich-based Ifo institute’s business climate index increased to 112.9 in April from a revised 112.4 in March.
 
The economy expanded at the fastest pace in five years in 2016, and reports since then have underlined expectations for a continued robust performance. The nation’s strength is key to the euro area’s recovery as the European Central Bank, which meets to set policy on Thursday, edges toward a decision on when to unwind stimulus.

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15:00 USD: US Consumer confidence (March)