Macron won the first round and will meet Le Pen. The market favorite helps the euro. What should we look out for next?
Here is their view, courtesy of eFXnews:
NAB FX Strategy Research notes that comments on the latest results of the first round of voting in the French presidential election which showed certainty of a Le Pen/Macron one-two, with Le Pen not scoring much more than pre-election poll predictions of the low to mid 20 percents
This outcome, according to NAB, represents a victory for French opinion polls suggesting that markets are happy to buy that Emmanuel Macron will be confirmed as the next president in two weeks’ time as almost a fact.
NAB also note that for the first time in modern French history, the 2nd round run off on June 7th won’t include a candidate from any of the mainstream French political parties.
“This in turn makes the elections for the national assembly (on June 11th and 18) of particular importance in terms of the new President’s prospects for enacting legislation,” NAB adds.
EUR/USD is trading circa 1.0850 as of writing.
Share
