France's next legislative election remains scheduled no later than June 2029 unless President Macron dissolves the National Assembly under Article 12, a step traders monitor amid the current hung parliament and minority government led by Prime Minister Sébastien Lecornu. Recent passage of the long-delayed 2026 budget has eased immediate fiscal pressure and reduced short-term incentives for dissolution, while attention has shifted to the 2027 presidential contest where polls show Marine Le Pen and Jean-Luc Mélenchon dominating first-round scenarios. Macron's low approval ratings and the fragmented center create conditions for potential snap elections around or after the presidential vote, though constitutional limits and party calculations currently favor stability through the remainder of the term. Key upcoming catalysts include further presidential primary developments and any signals from the Élysée on legislative timing.