1Finance

EUR/USD drifted to the upside, driven by the dollar’s weakness. Is there more to come? The big event of the upcoming week is the French elections, followed by the ECB decision.

1. French Presidential Elections: Sunday, exit poll expected before markets open, but full results could wait for Monday morning if the race is very close.
2. German Ifo Business Climate: Monday, 8:00. Germany’s No. 1 Think-tank reported a rise in business confidence, to a score of 112.3, above expectations.
3. Belgian NBB Business Climate: Tuesday, 13:00. A drop of 0.1% m/m is forecast.
4. Spanish Unemployment Rate: Thursday, 6:00. The fourth-largest economy in the euro-zone still suffers from a very high level of unemployment, but this has been improving. In Q4 2016, the unemployment rate stood at 18.6%. The same rate is estimated now.
5. German GfK Consumer Climate: Thursday, 6:00. A tick up to 9.9 is projected.
6. Spanish CPI: Thursday, 7:00. A bump up to 2.5% is expected.
7. ECB rate decision: Thursday: decision at 11:45 and the press conference is at 12:30.
8. German retail sales: Friday, 6:00. A modest advance of 0.1% is likely now.
9. French CPI: Friday, 6:45. A rise of 0.2% is projected.
10. Spanish GDP: Friday, 7:00. A similar expansion is predicted now: 0.7% once again.
11. Monetary data: Friday, 8:00. The ECB tracks the money in circulation (M3 Money Supply) and private loans. M3 has growth at an annual rate of 4.7% in February. Private loans had accelerated their growth rate to 2.3% back then. M3 is expected to rise at the same pace while the volume of loans will likely accelerate to 2.4%.
12. CPI Flash Estimate: Friday, 9:00.

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