Analysts at Danske Bank note that political uncertainty continues in Italy as premier-designate Giuseppe Conte has given up forming a government after the Italian President Sergio Mattarella last night rejected the proposal for finance minister by the incoming government of Five Star and the League. Key Quotes “This raises the prospect for new elections, which would add to market anxiety towards Italy. Moreover, on Friday, Moody’s placed Italy’s credit rating on negative watch. This is likely to be negative for Italian government bonds when the market opens this morning. After the rejection of the euro-sceptic Paolo Savona as finance minister, there was some relief in the EUR/USD.” “Recently, the market pricing of the first ECB hike has been postponed amid political uncertainty in Italy and the market adapting to a slow normalisation. On Friday, according to Reuters, ECB sources indicated that the growth moderation 3has not weakened the ECB’s resolve to end a bond-buying scheme later this year but could make it more cautious about signalling interest rate hikes. The first 10bp deposit rate hike was postponed further and is now expected by the market in autumn 2019, and 20bp in spring 2020.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD clings to gains but lacks strong follow-through FX Street 5 years Analysts at Danske Bank note that political uncertainty continues in Italy as premier-designate Giuseppe Conte has given up forming a government after the Italian President Sergio Mattarella last night rejected the proposal for finance minister by the incoming government of Five Star and the League. Key Quotes "This raises the prospect for new elections, which would add to market anxiety towards Italy. Moreover, on Friday, Moody's placed Italy's credit rating on negative watch. This is likely to be negative for Italian government bonds when the market opens this morning. After the rejection of the euro-sceptic Paolo Savona as finance minister,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
