Inflation fears weigh on appetite and US earnings in focus [Video]
|On Sunday, the results from the first round of the French presidential election showed that Emmanuel Macron obtained 27% of votes, closely followed by the right-wing Marine Le Pen, who got 24% support.
The EURUSD gapped higher at the open as an early reaction to the French first round results that favoured a final Macron victory, but the pair rapidly paired gains to sink below the 1.09 level.
The US dollar index remains strong at the start of a week which will probably print a further advance in both consumer and producer prices. European and US equity futures kicked off the week on a bearish note, as the barrel of US traded near $95pb, as Bitcoin fell to $42K on limited risk appetite.
Earnings season kicks off, with big US banks due to announce their first quarter results this week, and the earnings are seen sharply down from a year ago due to lower trading revenues, and negative impact of Ukraine war on activity.
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