Euro ignores Catalonian confusion

Peter A Rosenstreich Swissquote Bank Ltd

Who won yesterday’s election – the Catalexit crowd or the Remain-in-Spain supporters? It’s not clear! Both sides are claiming victory, and the parliament is split. Separatist parties took 70 of the 135 seats, but the pro-Spain Citizens Party won the most seats, 36. So the wrangling looks likely to continue.

Amidst all this, the Euro yawned. EUR/USD is stable, as traders are pricing in the least disruptive outcome.

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Please note this will be the last report until January 8th 2018. Have a happy holiday season.

Author

Peter A Rosenstreich

Swissquote Bank Ltd

Peter Rosenstreich is Swissquote Bank’s Head of Market Strategy and manages the global strategy desk; he has held various positions in several banking institutions in the United States, Europe & Asia.

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