Weekly Outlook: May 08 – 12: Macron Won, RBNZ & BoE Policy Meetings Ahead

Emmanuel Macron won French Presidency on Sunday, supporting temporarily the euro as investors reassured for the future stability of the European Union. Macron of the En Marche party got 65.5% versus Marine Le Pen from National Front who gained 34.5% of the votes.
Fed will probably continue the course of gradual increases following the better than expected non-farm payrolls number came out on Friday. The U.S. economy added 211K non-farm jobs in April above expectations of 185K while March’s print revised downwards to 79K, the lowest since June 2016.
This week we expect Reserve Bank of New Zealand and Bank of England to announce their interest rates decisions for the month. Moreover, U.S. will release its consumer price index and the retail sales for April that will probably affect the U.S. dollar.
This week starts with the German factory orders early in the morning and then U.K. Halifax House Prices for April. In Eurozone, the sentix investor confidence is expected to rise to 25.0 in May from 23.9 before while U.K. Halifax house prices for the three months to April will be released as well. FOMC member Loretta J. Mester and Fed's James Bullard speech have scheduled speeches while U.S. labour market conditions for April will be presented. None of the above economic indicators is expected to trigger raise big volatility in the market. At 14:30 Bank of Canada will release its quarterly review for the Canadian economy and central banking. During the night, Australian retail sales are predicted to rise by 0.3% from a decline of 0.1% before. National Australia Bank’s confidence is also coming out.
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