United States

Politics, home sales, consumer confidence and GDP analysis

WEEKLY MARKET COMMENTARY  | 

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Political risk will dominate the concerns of global investors this week with the returns from the first round of the French presidential election on Sunday, April 23, and the likely U.S. government shutdown looming on Friday, April 28, to mark Donald Trump’s first 100 days in office. In particular, as the French candidates from the far left and far right emerge victorious and move to the second round of the election, investors should anticipate an intense period of volatility across asset classes early in the week as markets and investors adjust to the risk scenarios implied by the outcome of the French plebiscite.

Beyond politics and policy, the first estimate of Q1 2017 U.S. gross domestic product (GDP) on Friday April 28, a spate of housing data, consumer sentiment estimates and durable goods orders figure to drive pricing action during the week. On a global basis, Canadian retail sales and first quarter GDP will be published this week. The European Central Bank will meet on Thursday, April 27, and the U.K. first quarter GDP will be published on Friday, April 28.

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