EUR/USD – Under Pressure As Markets Remain Wary
EUR/USD remains under pressure, and has edged downwards, as it trades close to the 1.31 line. The markets continue to be nervous about the political crisis gripping Italy. With no clear winner in this week's parliamentary elections, there are fears that a prolonged deadlock could result in economic fallout in Italy and the Eurozone. There was some good news as investors showed a strong demand for 10-year Italian bonds, although yields did move higher. In the Eurozone, French Consumer Spending disappointed, hitting a five-month low. German numbers continued to look good, as Unemployment Change beat the estimate. US key releases have looked sharp this week, and the markets are hoping for more good news from today's key releases – GDP and Unemployment Claims.
As the shock begins to wear off the Italian elections, the markets have settled down, but remain jittery. Even by Italian standards, the election was a shocker, with no clear party emerging as a clear winner. The 5...
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.