HELLO FROM EURO FX Italian Politics and a positive end to the week for the Pound
It appears as though Italian politics are causing the Euro a problem as the Pound has shown signs of improvement and even EURUSD exchange rates are close to their lowest levels in months.
Both the Italian parties the 5 Star Movement and Lega have both proposed plans to leave the EU in the future and this is clearly a cause for concern.
They have also suggested that they will look to increase pensions for older Italians as well as considering a plan to create an amnesty for some tax offenders in Italy.
Recently European Central Bank President Mario Draghi suggested that political tensions could cause problems for the Eurozone and therefore the single currency so a change in Italy could potentially cause a ripple effect in the months ahead.Yesterday, the Eurozone announced Construction Output data and this showed a fall which caused the single currency to fall against the Pound providing a good opportunity this week to buy the Euro at its highest level.
Later on this morning the Eurozone will release the latest set of Trade Balance data and this will give us a key insight into how the economy on the continent is performing.
Overall, I think we could see a positive end to the week for anyone looking to buy Euros.
EURO FX RATES TODAY
EURO = 0.8600
STG = 1.1225
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