Macron beats Le Pen; world markets breath

Oh la la… Centrist Emmanuel Macron has won the French elections on Sunday, defeating far-right Marine Le Pen with more than 66 percent of the votes.
Macron, a former economy minister of the current leader Francois Hollande, is seen as a pro-EU business-friendly politician. For such reason, markets (and top officials in Brussels) have been speculating over his presidency for long time.
His victory arrives at a crucial time for the European Union. While Brexit negotiations carry on, threatening to break the European bloc, Macron comes in as a warrior for unity that intends to rebuild the union and reinforce its key values.
“Europe and the world are waiting for us to defend the spirit of Enlightenment, threatened in so many places,” said Macron to the crowd as he acknowledged the results.
With Macron set to take a seat at the Elysee, markets are able deeply breath and move forward without fearing of a Frexit. Uncertainty levels are expected to go down quickly as En Marche! political and economic agenda seems totally aligned with the European leadership.
As Macron takes office on May 14, world markets will redirect their attention to other key aspects of the presidency, such as the appointment of his cabinet and how he will relate to US President Donald Trump or UK Prime Minister Theresa May.
“Congratulations to Emmanuel Macron on his big win today as the next President of France. I look very much forward to working with him!” tweeted Trump late hours on Sunday.
While there are obvious differences between the three leaders just mentioned, they all agree that countries benefit from low corporate taxes and less government intervention.
It is relevant to note that Macron had never run for elected office before, making him a rather fresh face in the political scene. That could be the reason why gold, a safe haven asset, has held previous gains earlier this morning, without retreating after Macron’s win was confirmed.