Inflation fears weigh on appetite and US earnings in focus [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

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.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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