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When we look at the last week's developments, the markets have experienced a busy calendar. First and the most important issue was the presidential elections in France. According to the results of the first round of presidential elections held on April 23, Emmanuel Macron will be the first with 23,75% of the vote in the second round, and Marine Le Pen will be the second with 21,53%. These first round results were so important for the European and world economy, because possible Le Pen's victory may have caused a risky atmosphere in the global markets because of his ultra nationalist policies. The uncertainty that the French elections have created in the global markets, especially in the Euro, has turned positive. This optimism may continue throughout the week, but after a while we think that the second round of market prizes will lead to more prudent pricing.

On the other hand, Germany has achieved the best economic growth of the last five years in 2016. Likewise, the Eurozone economic confidence index, announced on April 27, reached 109.6. The Bank of Japan did not change policy interest rates as expected. In the update on key economic indicators, the forecast for 2017 inflation was drawn to 1.4 % from 1.5 %. With the increase in production and export issues, the economy is expected to experience a moderate growth atmosphere.
 

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