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29 Apr 2013
Forex Flash: A new Italian Government has been sworn in on Sunday - Societe Generale
FXstreet.com (Barcelona) - Kit Juckes, Global head of Currency Strategy at Societe Generale notes that a new Italian Government was sworn in on Sunday under PM Enrico Letta.
He adds that it is a coalition government between the centre-Left Democrat and Berlusconi´s centre-Right party. He writes, “This rather ungainly coalition of political rivals is unlikely to be able to pursue the necessary structural reforms that Italy requires. We remain downbeat about the euro’s prospects going forward.”
Meanwhile, in Sweden, Juckes notes that the data releases calendar today will be dominated by the Riksbank April 17 meeting minutes in the morning and US personal income and spending data in the afternoon. He sees that the Riksbank minutes could help shed more light on the dovish decision to lower the repo rate forecast. He writes, “We are long NOK/SEK. Apart from these we have Swedish retail sales, German CPI inflation, and US pending home sales among others.
He adds that it is a coalition government between the centre-Left Democrat and Berlusconi´s centre-Right party. He writes, “This rather ungainly coalition of political rivals is unlikely to be able to pursue the necessary structural reforms that Italy requires. We remain downbeat about the euro’s prospects going forward.”
Meanwhile, in Sweden, Juckes notes that the data releases calendar today will be dominated by the Riksbank April 17 meeting minutes in the morning and US personal income and spending data in the afternoon. He sees that the Riksbank minutes could help shed more light on the dovish decision to lower the repo rate forecast. He writes, “We are long NOK/SEK. Apart from these we have Swedish retail sales, German CPI inflation, and US pending home sales among others.