French Race Opens Up as First Round Voting Nears

The four-candidate battle to reach the runoff in France’s presidential election is putting pollsters to the test as never before.

With just a few days to go before Sunday’s first round of voting, every poll for the past month has shown independent Emmanuel Macron and the National Front’s Marine Le Pen taking the top two spots. Macron would then easily win the May 7 runoff, polls show. Yet both front-runners have been steadily slipping over the past two weeks, and Republican Francois Fillon and Communist-backed Jean-Luc Melenchon are now within striking distance.

It’s a challenge for French pollsters, who have a near-perfect record in forecasting the vote share for the top five finishers in the first rounds in 2007 and 2012 and the subsequent runoffs. Until recently, the expectation was that France wouldn’t have an electoral shock like Britain did with Brexit and the U.S. went through with the election of Donald Trump.

Bloomberg

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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.