The markets were little changed this morning after the weekend elections from Germany and New Zealand. The German election results saw Angela Merkel winning another term as widely expected, but the fringe parties were seen making some inroads. This prompted Ms. Merkel to comment that she expected a better result but said that the good thing was that the status quo remains unchanged.
New Zealand also held elections over the weekend, and exit polls showed no clear winner. The election results are expected to be announced later in the week.
On the economic front, calendar today is marked mostly be speeches from central bankers. BoJ’s Kuroda will be the first to speak, followed by a number of FOMC member speeches. The ECB President Draghi will also be speaking later today.
