Populist Fears Weigh on Eurozone

France’s two-stage presidential election system is expected to favour Macron, who is the current favourite on betting markets. But a Le Pen victory remains a possibility, said OANDA senior trader Stephen Innes.

“Once this wave of populism starts to spread, the fear is it will prove extremely contagious,” Mr Innes said.

“If you look at the overall landscape, there’s a build-up of political risk that continues to weigh not just in the United States but also on the continent. These risks are sitting idle in investors’ minds. So if anything negative happens, you get this sort of reaction.”

The Sydney Morning Herald

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Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes