News from Italy supported the Euro
During the European trading session the US dollar shows mixed trading against other major currencies. Plus traded British pound, the Euro (+0,31%), canadian dollar (+0,17%) and Australian dollar (+0,09%). The leader among them is the pound (+0,9%).
Market participants have ceased to react to negative news from the UK and France. Thursday will be a vote of no confidence to the government of France. Today or Thursday in the British Parliament can pass a vote on the question of a vote of no confidence in the Prime Minister Theresa may.
Pound rises as if traders have started to lay in the price of the resignation of may and the abolition of the Brexit. According to rumors, the upcoming vote of 158 parliamentarians intend to Express their support for Theresa may. About his distrust of her, I want to declare 33 of the same party.
Some positive news for the single currency. The Italian authorities intend to agree on the target level of the budget deficit at 2%. If this information is confirmed, the Commission may approve the proposed by Italy’s draft budget.
The pair EUR/USD increased to 1,1364. The price met with resistance for the passage of which need a little consolidation to the time frames below 30 minutes, the buyers were able to regroup. Given that the external background for majors mixed, growth can be restricted to the current level. The price is near the trend line. The situation is similar to yesterday, the day before the collapse of the 90 points. Beware.
Don’t forget that Thursday will be the ECB meeting and press conference, Mario Draghi. Before important events the price is at a comfortable level.