The Traderszone Network

The euro has almost no upside until Le Pen is out of the way. Barclays expects Macron landslide, but a hung parliament.

People’s Bank of China not seemingly fussed by round 1 of the French election, but strengthening the yuan against the USD alongside stronger currencies elsewhere

BOJ JGB buying operations
– Bought 1 – 3 years at same amount as previous operation
– Bought 5 – 10 years at same amount as previous operation
– But reduced purchase amount in the 3 – 5 year window, 320bn this time vs. 350 bn last time
Markets are wondering if this is some sort of ‘taper’ from the Bank of Japan, The BOJ did tell us they would be purchasing at the odd smaller amount in April (announced so at the end of March) 

As interest rates continue to head higher, banks should earn more money from net interest income. Yet, even though the Federal Reserve has raised rates twice since the beginning of December, Citigroup‘s (NYSE: C) net interest margin fell in the first quarter, meaning that it generated a lower net yield from its portfolio of interest-earning assets this year than it did in the first quarter of 2016.

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What was about from Friday’s closing levels up through above 1.0925 got wiped out early
It’s a wee bit sparse now, well, sparser.
– Sellers 1.0900 starting to tiptoe in, then 1.0950

AUD/USD
– Sellers 0.7590 & 0.7600
– Buyers 0.7480/90/00
Board should get more interesting as Europe/UK/ US get active
Currently .7563
NZD/USD
– Sellers from current levels up through 0.7100
Ditto

According to BFM, the top two candidates in the runoff will be Emmanuel Macron and Marine Le Pen. They will face off on May 7. CNN’s Jim Bitterman and Hala Gorani report.