USD Takes Shelter From The Mistral

cashbackforex

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A long time ago, in a galaxy not that far away (clue: France), a couple sit at a sushi bar. "Nicolas! Nicolas!" Angela nudges her small, compact, if austere, partner. His attention has drifted towards his on-screen candle and the incredible bulls and bears jostling for his royal (oh yes) attention (hey, look, it's a living, ok?).

They are interrupted.

It's Yoda, and before they can explain that - thanks, but no thanks, you don't need to bother with the Force - Nicolas finds that both he and his partner are levitating. Is he impressed by the power of the Force? Will Hollande be sleeping in the Elysee anytime soon? My eye.

In short, if that's possible, the markets wobble in anticipation of tomorrow's French presidential election debate. Should it appear German Chancellor Merkel (ah... Angela...) is about to lose her last austerity advocate, will the euro again dismiss this threat? We also have a European Central Bank Press Conference on 3rd May. With over half of Europe slipping into a recession, dare Draghi reduce the minimum bank rate?

She frets, she scores.

On Friday we get the latest US unemployment rate, estimated to remain unchanged at 8.2%. This will be followed by the Non-Farm Employment Change Report. The early estimate is for an increase of 176K jobs, but recent estimates have been falling short of expectations.

The market this week, then, is a trading affair, with ample volatility responding to the bullish and bearish cross currents.

Okay, so, like, and just to be clear here, Yoda is left resigned and alone, a 900-year old has-been, reduced to the role of "that guy", butting into other people's conversations with unwelcome barfly tricks. That's one depressed Jedi. Wonder what currency he's on...?
 
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