本周在欧洲的政治市场的焦点，因为在法国和希腊的选举结果的不确定性增加了另一个水平，欧元的未来和当前的紧缩计划。在法国，萨科齐奥朗德的过渡尚未产生了很大的张力，作为奥朗德并没有正式走马上任，并命名，直到本周的内阁，但希腊是整体与其他的故事，从一开始去主导市场的头条。周一开始，希腊保守党领袖迅速宣布，他将致力于“修改”救助政策，而希腊民​​主左翼领导人Kouelis插话说，他将免费希腊救助方面的政策目标，不会有助于衰弱政策的延续......国际货币基金组织官方立即回应，他们将扣留的援助下档如果没有敲定新的紧缩措施，从而开始了另一个缺口紧张...... 对在本周结束前，所有三个形成一个新的联合政府的尝试失败后，留下新的选举将在6月的选项越来越可能。除非在希腊的局势是稳定的，在此期间，欧盟/国际货币基金组织/欧洲央行的“三驾马车”说，已经取消了计划5月中旬访问希腊，援引政治动荡......周三，EFSF的证实，它将在未来的付款总额支付机构单时，欧元对希腊在雅典带来的倒有几分紧张。 在西班牙，市场担忧西班牙银行体系的资本状况，迫使马德里开展广泛的措施来支持银行，并执行“部分收购”Bankia，全国第三大银行按资产。贸易商甩欧元和大宗商品，推到平常的避风港的资金。产量5年，10年和30年期德国国债下跌到新鲜的所有时间低点，下降1.5％，低于10年的堤岸，在一个点上。 在日本，翅最少津实重申其需要，它必须仔细观察投机性流动的外汇货币价格变动的看法。他指出，近期日元的实力和在日经股市的跌幅后，在欧洲选举的不确定性是由于我个人的看法是，因为日本市场封闭，上周因黄金周假期，日元的优势留下央行选中，这是非常可能我们会看到一些弱点，现在，日本的市场是开放营业... 在澳大利亚，联邦财政预算案预测释放这一周，2012/13年期间保持了一个15亿美元的盈余，但其2011/12年度的赤字从$ 37.1B，前11月，国库部长斯旺看到赤字扩大至$ 44.4B已发出警告这仅仅是开始，它会继续成长......然而，本财年的预算盈余将给予一些减免的低收入和中等收入家庭，并重申，它将使澳洲联储降息如果需要额外的空间......这dded一些更悲观情绪，为央行进一步降息的揣测澳元是主要的共识......当然，四月就业变化的数字比预期要好很多，但真正令人惊讶的是失业率，下降0.3％至4.9 ％（5.2％）和提供支持澳元兑美元一双，因为它保持了脚跟以上的平价水平。 58.2K与10.1KE就业变化的数量比预期要好在加拿大，添加了大量的需求，为CAD，失业率维持在7.3％，但积极的就业变化的大部分收益分别为43.9K的全职工作，只有14.3K的兼职工作，以弥补58.2K图......展望未来，我希望看到进一步为CAD的需求。 原文： Politics in Europe were the focal point for the markets this week, as the election results in France and Greece added another level of uncertainty to the future of the Euro and the current plan of austerity. In France, the transition from Sarkozy to Hollande has not generated a great deal tension, as Hollande does not officially take office and name a cabinet until this week, but Greece is whole other story with headlines dominating the market from the get go. Starting on Monday, Greece Conservative Leader quickly announced he will aim to “modify” bailout polices, while the Greece Democratic Left leader Kouelis chimed in saying that he will target policy to free Greece from bailout terms, will not aid continuation of debilitating policies… IMF Official immediately responded in that they will withhold the next tranche of aid if new austerity measures are not finalized, thus kicking up the tension by another notch… Towards the end of the week, all three attempts to form a new government coalition failed, leaving the option for a new election in June more and more likely. In the meantime, unless the situation in Greece is stabilized, the EU/IMF/ECB Troika said to have canceled the planned mid-May mission to Greece, citing political turmoil… On Wednesday, EFSF confirmed that it will pay out the next tranche totaling 5.2B Euro to Greece on time, which brought the tension in Athens down a bit. In Spain, market fears about the capital position of the Spanish banking system forced Madrid to launch extensive measures to support the banks, and to execute a “partial takeover” of Bankia, the nation’s third largest bank by assets. Traders dumped the euro and commodities, pushing funds into the usual safe havens. Yields on 5-year, 10-year and 30-year German bonds fell to fresh all-time lows; the 10-year bunds dropping below 1.5% at one point. In Japan, Fin Min Azumi reiterated its view of need that it must carefully observe fx currency price movements for speculative flows. He noted that recent JPY strength and decline in Nikkei equity market were due to uncertainty after elections in Europe… My personal opinion is that since Japanese market was closed last week due to Golden Week holiday, JPY strengths were left unchecked by BOJ, it is very likely that we’ll see some weakness now that Japan’s market is open for business… In Australia, Federal Budget projections were release this week, which maintained a surplus of A$1.5B for 2012/13 period but widened its 2011/12 deficit to A$44.4B from prior deficit of A$37.1B seen in Nov. Treasurer Swan has warned that this is just the start and it will continue to grow… However, the budget surplus this fiscal year will give some relief to the lower and middle income families and reiterated that it will give the RBA additional room for rate cuts if needed… This dded some more bearish sentiment to the AUD as speculations for further rate cuts by the RBA were the main consensus… Of course, the Apr Employment Change figure were much better than expected, although the real surprise was the Unemployment rate, which dropped 0.3% to 4.9% (from 5.2%) and provided support for the AUDUSD pair as it maintained a foothold above the parity level. In Canada, the better than expected Employment Change number at 58.2K versus 10.1KE added lots of demand for the CAD… The Unemployment Rate stayed at 7.3%, but the majority gains of the positive employment change were full-time jobs of 43.9K, with only 14.3K of part-time jobs, to make up the 58.2K figure… Going forward, I’d expect to see further demand for the CAD.