The populist tsunami that slammed into Britain last year, before sweeping across the Atlantic to the United States, may have faded on the shores of France on Sunday.

Despite a strong performance from far-right leader Marine Le Pen in the first round of France's presidential election, the bigger news was the success of Emmanuel Macron, an independent centrist who rode to victory with a counter-intuitive campaign that embraced globalization, immigration and the European Union.

The polls suggest Macron will beat Le Pen soundly in the second-round runoff on May 7. If he does, it could open the door to more ambitious reforms of the French economy and an elusive compromise with Germany on overhauling the troubled euro zone.