Italy

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Salvini may have thrown a boomerang – Special Report

Posted on August 26, 2019 at 2:03 pm GMT

Matteo Salvini, the right-wing League Deputy Prime Minister, fired up a political crisis in Italy after pulling support for the coalition government earlier this month, forcing the Prime Minister Giuseppe Conte to resign and the marriage with the leftist Five Star Movement (M5S) to break down. Starting consultation with the main political parties, President Sergio Matarella will push efforts to form a new alliance and avoid snap elections before the 2020 budget discussions with the EU start. The plan, however, [..]

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Forex News – Euro makes strong rebound as initial panic over Italian ‘No’ vote subsides

Posted on December 5, 2016 at 12:17 pm GMT

Italians overwhelmingly rejected plans to reform the country’s constitution on Sunday, forcing the resignation of the Italian prime minister and triggering a fresh political crisis for the Eurozone. Voters decided against reducing the power of the Senate that would have simplified the process for the government to pass through legislation. However, the outcome of the vote was seen more as a rejection of the Prime Minister’s economic policies than the proposed changes to the constitution itself. A ‘No’ vote was [..]

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UK industrial output slumps at end of 2015; similar picture across Europe

Posted on February 10, 2016 at 1:19 pm GMT

It was a poor month for industrial production in Europe’s major economies in December as output slumped towards the end of the year. In the UK, industrial production contracted by 1.1% over the month in December – the biggest monthly drop since September 2012. Expectations were for a much smaller fall of -0.1%. Manufacturing also had a bad end to the year, with output declining by 0.2% month-on-month versus estimates of a 0.1% rise. On a year-on-year basis, industrial output [..]

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European Session – Sterling outperforms as politics pressure Euro and Dollar

Posted on September 30, 2013 at 11:32 am GMT

The European Session showed little change following from the risk-off sentiment in Asia as political tensions from US to Italy keep investors on edge. Also, disappointing China manufacturing PMI data weighed on sentiment. In the United States, the government is at the brink of a shutdown at midnight tonight (US time) on a failure of an agreement between the House Republicans and the Democratic Senate to pass a budget bill unless Obamacare is delayed by a year. In Italy, the [..]

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Forex News – Euro weighed down by Italy’s downgrade

Posted on July 10, 2013 at 10:23 am GMT

The euro remains weak a day after Italy’s sovereign credit rating was lowered by Standard & Poor’s. Europe’s third largest economy has been downgraded by one notch from BBB+ to BBB. Italy is now two notches above junk status following the rating downgrade, with a negative outlook that suggests a further downgrade is possible. In a statement the S&P cited concerns for the Italian economy which has been mired in the worst recession since the Second World War. The euro [..]

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US Session – Dollar weak after US data, speculation for more Fed easing

Posted on April 29, 2013 at 7:47 pm GMT

Euro held onto gains in the US session as optimism after Italy formed a new government flowed across the Atlantic over to North American trading. The news that Italian Prime Minister formed a coalition government ended political uncertainty that resulted after inconclusive elections two months ago. EURUSD hit as high as $1.3115, regaining from last week’s losses when euro was hurt by weak German business confidence data. Focus turns to the European Central Bank policy meeting. There is growing speculation [..]

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European Session – Euro rallies above $1.31

Posted on April 29, 2013 at 12:43 pm GMT

Euro rallied against the dollar after being buoyed by relief that Italy has finally formed a government, ending two months of political uncertainty following an inconclusive February election. Italy’s Prime Minister Enrico Letta put together a coalition government comprising of the two major political parties of the centre left and centre right. The news also helped the success of the Italian government bond auction today, where Italy sold 6 billion euros of debt at lowest yields since October 2010. Borrowing [..]

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Forex News – Euro lifted by lower Italy bond yields and formation of Italy government

Posted on April 29, 2013 at 10:00 am GMT

Italy formed a new government on Saturday, after Enrico Letta took over as Prime Minister, ending two months of political uncertainty and gridlock after February’s inconclusive elections. 46-year-old Letta is a moderate leader of the country’s center-left Democratic Party, and his cabinet is a mix of center-right and center-left officials. center-right leader and former Prime Minister Silvio Berlusconi is included in the alliance. German Chancellor Merkel called Letta to congratulate him, invited him to visit Berlin. Currency markets reacted positively [..]

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European Session – Euro above $1.30 as Italy election impasse ends

Posted on April 24, 2013 at 1:36 pm GMT

The euro ended the European session flat, after recovering quickly from a brief sharp drop on the back of disappointing news from Germany’s IFO, showing a deterioration in business sentiment in Europe’s largest economy. The index printed at 104.4 versus 106.4 expected. Helping support euro is the fact that Italian and Spanish debt is performing especially well over the past several days, with yields falling to quite low levels. Part of this is due to the fact that the election [..]

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