2012.05.0804:59:00UTC+00Research: Markets are Likely to Move Into Ranges

Quotes from Credit Agricole CIB Research:

-As Hollande's election has been largely priced in, European markets performed relatively well but Greece remains the major concern. Elsewhere, US Consumer Credit for March surged by USD21.36bn, the largest rise since Nov 2001, boding well for the consumption outlook. 

-Sentiment was boosted and US equities pared back their earlier losses, with S&P Index reversing to slight gains. Today's calendar is relatively light, with only German Industrial Production for March and US NFIB Small Business Optimism scheduled. Without important data driving the flow, markets are likely to move into ranges.