Emmanuel Macron was elected French president on Sunday with a business-friendly vision of European integration, defeating Marine Le Pen, a far-right nationalist who threatened to take France out of the European Union.
The centrist's emphatic victory, which also smashed the dominance of France’s mainstream parties, will bring huge relief to European allies who had feared another populist upheaval to follow Britain's vote to quit the EU and Donald Trump's election as U.S. president.
This, however, is as expected and markets have already priced in the details.
In the week ahead traders will be focused on… nothing. All the major themes are done. Life is good, and everyones happy. For now...
No data of importance ahead. At least until Thursday when we get word from BLS on US PPI.
Friday brings with it CPI and retail sales, as well as the start of an actual event of interest in the form of a G7 meeting.
The North Korean Situation hasn’t gone away and the the subject is likely to come up at the meeting. We’ll have to see what comes of it but for now we’re left with the trading of flow…