EUR/USD: The decline is accelerating, concerns about the Italian markets

© Reuters. EUR/USD, Euro-Dollar

Italy seems new to worry the markets on Thursday, with the key being a downward impact on EUR/USD.

The rate on 10-year Italy appears, in fact, rise this morning, a sign of the concern of the traders, while the index Italian FTSE MIB lost more than 1%.

This concern would be due to the appointment of Bagnai, Eurosceptic, the head of the Finance Commission of the Italian Senate.

On the pair EUR/USD, this has resulted in a break below the support zone of 1.1530-35, with a low of 1.1521 for now putting the Euro in the face of the next potential supports in the short term at 1.1520, 1.15 and 1.1480.

On the side of the banks, it should be noted that Commerzbank (DE:CBKG) has issued a negative opinion on EUR/USD this morning, referring to potential targets at 1.1510 and 1.1407 (moving average 200 weeks).

Remember to finish that this Thursday will be the occasion for a response to Jens Weidmann at 11: 45am, as traders will closely watch, in view of possible comments hawkish, Weidmann is to categorize this side of the spectrum of the monetary policy, in contrast to other ECB members who have spoken in recent days.

The index of the Philadelphia Fed at 14: 30 will also be likely to have an impact on the pair EUR/USD.

Like this post? Please share to your friends:
Leave a Reply