Further comments by Italian prime minister Conte in parliament He hasn’t really gone into details yet, and isn’t likely to given that he’s speaking ahead of a confidence vote later in the day. So far the market is a bit mixed in reaction to his comments. BTPs and the MIB index fell on the back…
Comments by new Italian prime minister Giuseppe Conte Conte and his government is set to face a confidence vote later at 1700 GMT, and is expected to pull through with a thin majority in the Senate vote.
Brent is now down by more than 1% to $74.16 while WTI is down 0.29% to $64.57 The news broke out earlier by Bloomberg – citing people familiar with the matter. The request is said to have asked OPEC to increase output by at least 1 mil bpd – or about 1% of global production,
Comments by S&P Global Ratings Despite both Spain and Italy being involved in their own respective political drama, this shows that the situation is very much different. In essence, Spain is still in the EU’s good books while Italy is pretty much starting to write their name on the “naughty list”.
Latest data released by Markit/ADACI – 5 June 2018 A slight beat relative to estimates, but the composite reading stays flat compared to April’s print. If anything, at least it doesn’t continue to trend further downwards. A minor data point.
Comments by European Commission president Jean-Claude Juncker in Brussels Right, and that is why there’s no issues with the US on trade. Oh wait. This never gets old:
Latest data released by Markit – 5 June 2018 Decent beats there for Spanish PMI figures. A minor data point though, but at least it does not add to the woes faced by the euro that Q2 will also be facing another soft patch.
Stocks in Europe are met with tepid sentiment to start the day Slightly softer tones all around in early trades. The market appears to be lacking a catalyst at the moment. Focus turns back to Italy with Conte set to present his new government’s agenda to parliament later ahead of the vote of confidence.
Latest data released by the French Treasury Agency – 5 June 2018 Low-tier data. Nothing that will impact the euro at this point in time.
GBP/USD rises to a session high of 1.3379 And is looking to test the 1.3400 handle once again. Yesterday’s highs stalled near the figure level as offers kept a lid on the pair and it fell towards the confluence of the 100-hour (red line) and 200-hour (blue line) moving averages.