Now that his second round victory has been secured, the first test comes just hours from now when markets re-open in the Far East.
I would be surprised if there is any rush to dump French government bonds and bank shares.
The prevailing wisdom is France's problems like much of the Eurozone are so complex that for all his rhetoric Hollande has little room to distance himself from Mrs Merkel's austerity programme to save the euro.
His room for manoeuvre being limited, the world's money men and women seem confident he will be unable to implement key elements of his tax-and-spend manifesto.
On this side of the Channel, Labour's Ed Miliband and Ed Balls would be wise not to crow too loudly about the Socialist victory.
It could be that come the next UK General Election in 2015, Hollande might have been shown to have failed on his promises to the French people.