French Centre Candidate Gets Election Boost

French centrist presidential candidate Emmanuel Macron’s election campaign took a step forward on Sunday as the Socialist party chose a champion with a hard-left agenda and the centre right battled to contain a scandal over fake pay.

Thousands of supporters gave embattled conservative candidate Francois Fillon and his wife, Penelope, a rousing ovation at a rally in a show of support after his campaign was thrown off track by allegations of misuse of public funds relating to employment she carried out.

The ruling Socialists produced the last main candidate for the election, due to take place in April and May. They chose leftwinger Benoit Hamon for the ticket, a move likely only to boost the chances of winning for Macron, an independent.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.