Categories

June 6, 2018

IronFX, Daily Report: New Italian PM alarms the markets & UK’s Labour Party favors single market with EU

Check out today’s economic highlights.

This article is originally referred from IronFX News.

New Italian PM alarms the markets

  • The new PM of Italy delivered his first speech in the Italian Senate alarming the markets and passing a confidence vote.
  • Italy’s PM Mr. Conte promised a minimum “citizen’s income”, as well as curbs on immigration and a “radical change”.
  • The speech caused a sell off for Italian bonds causing the EUR to rise.
  • Should the new government go ahead with it’s plans, it may clash with Brussels as the Italian economy remains in a fragile position.
  • After passing the confidence vote in the Lower house today, the new government will be fully empowered.
  • Should there be further negative headlines about Italy and the Eurozone, we could see the common currency weakening as instability rises.

UK’s Labour Party favors single market with EU

  • Media reports stated that UK’s Labour party leader Corbyn, placed an amendment to Theresa May’s Brexit legislation.
  • The amendment would force the UK government to practically pursue in the Brexit negotiations for the UK to remain in the single market with the EU.
  • The amendment is to be voted on, probably next week and will require votes from the conservative party to pass.
  • Should there be any further instability in the UK political scene about Brexit we could see the pound weakening.

Today’s other economic highlights

  1. US: Trade Balance for April, Survey: -49.00B Prior: -49.00B, 12:30 (GMT), Neutral to bearish for USD
  2. US: EIA weekly crude oil inventories, Survey: -1.824m Prior:-3.620m, 14:30 (GMT), could strengthen oil prices
  3. Canada: Building Permits for April, Survey: +2.0% mom Prior:+3.1% mom, 12:30 (GMT), could weaken CAD
  4. Canada: Trade Balance for April, Survey: -3.4 B Prior:-4.14 B, 12:30 (GMT), could strengthen CAD
  5. Canada: Ivey PMI for May, Survey: 69.7 Prior:71.5, 14:00 (GMT), could weaken CAD
  6. Speakers: ECB’s Peter Praet (07:00, GMT) and BoE’s Ian Mc Cafferty (16:00, GMT) speak

IronFX Daily Report ‘June 6th’

Original Source: IronFX News

All Forex Brokers

  • IFC Markets
  • FxPro
  • IronFX
  • Axiory
  • FBS
  • Land-FX
  • MyFX Markets
  • Titan FX
  • Traders Trust
  • XM
  • LMFX
  • FXDD
  • ForexClub
  • KVB Kunlun
  • Tradeview
  • EightCap
  • FXOpen
  • HotForex
  • FXGiants
  • LQDFX
  • Fortrade
  • CM Trading
  • InstaForex
  • FXPRIMUS
  • ForexMart
  • Valutrades
  • AvaTrade
  • Yadix
  • RFXT
  • easyMarkets
  • JustForex
  • Swiss Markets
  • FXTM
  • HYCM
  • FP Markets
  • SimpleFX
  • IC Markets
  • Evolve Markets
  • Tickmill
  • Markets.com
  • Z.com Trade
  • UFX
  • Anzo Capital
  • LiteForex
  • 4xCube
  • OctaFX
  • Tifia
  • XTB
  • AAAFx
  • NordFX
  • FXGlory
  • Capex
  • ClickTrades
  • TopstepFX
  • HotForex ZA (South Africa)
  • XMTrading

All Crypto-Currency Exchanges

  • CEX.IO
  • HitBTC
  • Paxful
  • BitMEX
  • C-CEX
  • Binance
  • Cryptopia
  • YObit
  • Wisebitcoin
  • Bibox
  • BKEX
  • CoinPark
  • CoinEx
  • IRONX
  • CoinField
  • bybit
  • Bitpanda

This website uses cookies

By using our site, you acknowledge that you have read and understand our Privacy Policy (Cookie Policy), and our Terms of Service.