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Emmanuel Macron and Marine Le Pen advanced to the French presidential runoff on May 7 after the first round, with Macron at about 23.7 percent and Le Pen at about 21.7 percent. The euro reached a five-and-a-half-month high against the dollar, and polls showed Macron favoured at roughly 62 to 38 percent.
A likely Macron win reduces the tail risk of a euro-area shock that would weigh on the euro. Currency moves of this kind change the dollar cost of European feed imports only modestly.
cnbc.comGemma ActonApr 24, 2017After 18 past bullish geopolitics events, Euro (USD per EUR) moved a median +1.9% over 5 sessions (83% higher; middle half +0.9% to +2.0%), and +2.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Macron and Le Pen advancing to the runoff, with Macron favoured in polls, lowered the odds of a eurosceptic victory and lifted EUR/USD to a five-and-a-half-month high.
