Macron Faces Challenge in Securing Parliamentary Majority

Winning the French presidential vote may have been the easy part for Emmanuel Macron.

Now, the 39-year-old, who on Sunday defeated the far right National Front’s Marine Le Pen with a resounding 65 percent of the vote, has five weeks to turn his year-old En Marche! — or On the Move! — political movement into a vehicle capable of winning a majority or at least garnering enough seats in parliament to govern or form a coalition.

Without that, Macron could find himself a figurehead from the get-go, incapable of putting into action his campaign promises of economic modernization. That in turn might embolden populists who France has managed to keep at bay this time, but may not be able to again. The narrower margin of victory over the National Front compared with previous elections shows that parties that see France’s central role in the European Union may not get many more chances.

Bloomberg

Commodities Ressens L’Amour on Monday

Normalcy Returns to Currency Markets

USD/CAD Canadian Dollar Higher After Oil Bounce and Dollar Selloff

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.