FXStreet – in view of the clear Vorsprings of Macron against Le Pen in the polls for the runoff election there is relief in the markets, the market analysts of the French Bank BNP Paribas.
This was first noticed in Asia, where the Yen is often seen as a safe haven, depreciated, so the Japanese share rose. Even bigger the gains in Europe were in the past. In France as in the Euro STOXX 50 Bank stocks are at the top. Bond yields will rise “safe” countries (USA, Germany, Netherlands, Switzerland). In France, Italy and Spain, the risk premiums decreased, so that the yields here. The Euro has appreciated against the US Dollar and the British pound.
According to the last surveys Macron’s prospects for the second round are good. Up the score at 7. May is announced, is not excluded that a certain amount of fluctuations because investors could always speculate about a possible win chance of the Euro-sceptic Marine Le Pen. What can be achieved by Macron as the President, politically, is, however, unclear. Much will depend on the composition of the Parliament with which he must work.
** FXStreet News Editorial, FXStreet**