French election is likely to dominate European markets - Scotiabank

According to the analysts at Scotiabank, the nearness of France’s election is likely to dominate European markets in the absence of much else aside from a handful macro releases.

Key Quotes

“France’s first-round of Presidential elections will be held on April 23rd and is therefore still more than two weeks away. If—as is highly likely—a majority is not secured, then the second round will be held on May 7th. If you still believe in polling despite ghastly performances over the years, then Emmanuel Macron and Marine Le Pen each hold 23.5% of the vote according to the latest poll by Elabe, and Francois Fillon trails at 19%. Another poll by Opinion Way showed Le Pen in the lead for first round voting at 26% with Macron at 24% and Fillon at 20%.”