The French election has come to an end but markets seem to be unaffected in the news that macron is the new French President. However, the Euro spiked against the U.S. Dollar, which peaked to a $1.10 in the session for a six-month high, but later subsided in the session.
Although there were little to now movement in the markets, the Nikkei 225 surged by 2.3%, but analysts say that a lot of the gains were simply an aftereffect to the global markets during last week’s extended Golden Week break in Japan. South Korea’s Kospi also gained 2% while, Australia’s ASX200 were also in the bull by 0.6%, which was largely thanks to the gains in raw material and energy.
China being one of the most powerful drivers in the world economy, closed the sessions in mixed positions. The Shanghai composite slipped, as did its Shenzhen counterpart, following the release of trade data which, even though shows quite a strong. Saw that both imports and export miss forecasts. Stock rose a little in Hong Kong.
The U.S. Dollar edged slightly higher against a basket of major, traded rivals Crude oil prices rose on the back of new hopes for output cuts, with Brent adding about 1.48%.
The rest of the day brought speeches from Cleveland Federal Reserve President Loretta Mester and her colleague from St. Louis James Bullard. The data schedule is light, with only the Canadian housing starts and the U.S. employment-change index due.