26/04/2017 - Analysts Expect Centrist Macron To Win
The Euro again strengthened during yesterday’s session buoyed by the positivity that the fears surrounding France’s presidential election could be put to rest, with attention now shifting to the European Central Bank announcement on Thursday.
Analysts widely expect Centrist Macron to win the battle against far-right anti-EU candidate Marine Le Pen in the second round of France’s presidential election on May 7th. After a race full of surprises, investors had feared Le Pen and euroskeptic Jean Luc Melenchon would qualify for the final round in May, stoking fears of a so-called Frexit and the beginning of the end of the eurozone.
After a quiet day on the data front news emerged that Government borrowing fell to the lowest level since the financial crisis in the year to the end of March as the economy proved more resilient than expected in the aftermath of the Brexit vote.
The figures came as a boost for Chancellor Philip Hammond as they revealed borrowing fell by £20bn to £52bn in the 2016-17 financial year after economic growth helped drive tax receipts higher, narrowing the gap between what the government spends and earns.
The office for National Statistics said it was the lowest level of annual borrowing since 2007-08, before the full impact of the financial crisis was reflected in the public finances. The strong deficit figure means Hammond met his £51.7bn target for borrowing, as outlined by the Treasury’s independent forecaster, the Office for Budget Responsibility, at the time of the budget in March.
15:30 – USD – Crude Oil Inventories