French Presidential Election
A final runoff of the French presidential election will take place on May 7. All traders will be awaiting final results to decipher the future of the euro and the Eurozone as this election is held within a context of growing Euroscepticism. The victory of the far-right candidate Marine Le Pen in the second round would provoke a big selloff in EUR/USD. The market recovery followed by such election outcome might not be as swift as it was after Donald Trump was elected the US president. If the pro-euro centrist Emmanuel Macron wins, the euro should strengthen. Political analysts see Macron’s win as more likely and this result is already partially priced in the euro’s rate.