The Spanish Senate approved invoking Article 155 of the Spanish Constitution. They basically gave a free hand to the Spanish government to act. PM Mariano Rajoy is expected to remove Catalan President Carles Puigdemont from his job. VP Oriol Junqueras will probably be removed as well.
The approval by the Senate also allows the suspension of the Catalan parliament and also the Catalan broadcaster TV3. Madrid previously announced that they will call fresh regional elections within 6 months.
Expected after Catalonia´s declaration of independence by the Catalan parliament earlier.
The Spanish government is convening after it received the green light and will decide on the measures. Initially, reports came out that the government will meet at 19:00 local time.
EUR/USD is stabilizing around 1.16 after the news from Spain and the upbeat US GDP that sent it lower.
more comingGet the 5 most predictable currency pairs