All Eyes on the First-Round Voting of the French Election
|The first round of the French presidential election will be held this Sunday, April 23rd. The market consensus for the first-round of the election is that the Centrist Macron and the far-right wing Le Pen will both capture enough votes to proceed to the second round, but this is very much still a four-horse race.
Recent polls have shown there is still the possibility that the far-left wing Mélenchon could be a contender and make it into the final two, though vastly different from Le Pen, his policies would be likely to have a similar result to Le Pen with the markets seeing rallies of safe havens (such as gold, the yen and the Swiss franc), with lower European stocks and a falling Euro.
The far-right Le Pen looks set to make the second round, the markets will be keeping any eye out for any possible increase of more than her expected share of vote, this would likely lead to some worry within the markets which are likely to be spooked by the possibility of a Le Pen presidency.
The independent centrist candidate Macron is in favour of free trade and the integrity of the EU. HIs measures aim to change the country’s long-standing bureaucracy and excessive government control to revive the sluggish economic performance. At the moment, Macron or his compatriot Fillion are the best outcome for the Euro and the single market.
Non-voting share and undecided voters are likely to play decisive roles in this election. The IFOP polls showed there are about 31% non-voting and 28% undecided voters. We are a long way from the finish line but the future fate of France and to some extent the Euro itself will be a little closer after Sundays first round of the election.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.