America News Agency

The market is in a state of flux, and each professional is responsible for monitoring the central bank decisions and data releases that could significantly impact the market.

The pan-European Stoxx 600 index is on course for a more than 1.5 percent weekly gain, its best performance since early May.

Equity markets have shaken off much of last week’s negativity after populist, far-right parties made strong gains in elections to the European Union Parliament. Even France’s CAC 40 index is heading for a weekly gain after being hammered by the country’s shock election announcement. However, the euro remains on the back foot as investors brace themselves for a potential far-right victory in the euro zone’s second-largest economy.

Options volatility suggests traders see more risk of big currency movements stemming from France than they do for the British pound due to the U.K.’s upcoming election.

This week's attention turned to central bank action, as the Swiss National Bank announced it would cut interest rates by 0.25 to 1.25 percent. The SNB became the first major central bank to cut rates during this cycle back in March.

The Bank of England meanwhile kept interest rates unchanged at a 16-year high of 5.25 percent.

Data released Friday showed British retail sales volumes rose 2.9 percent in May, well ahead of expectations for a 1.5 percent increase and rebounding from a dour April performance when shoppers were deterred by wet weather.

Other releases Friday include French business confidence and German and British flash purchasing managers’ index figures across manufacturing and services. Asia-Pacific markets were lower Friday after Japan’s May core inflation data came in slightly cooler than expected.