Italian President Mattarella: Conte has resigned, consultations to begin tomorrow at 15:00 BST

Italian President Mattarella says that Conte has announced his resignation on Tuesday.
Consultations to begin tomorrow at 15:00 BST.

Ross J Burland FXStreet

Italian Premier Giuseppe Conte announced his resignation Tuesday following the collapse of his 14-month-old populist government. Conte blamed a rebellious and politically ambitious deputy prime minister who triggered a political crisis in a gambit to force early elections that could bring the right-wing, anti-migrant leader to power.

FX implications:

The euro will not be in favour all the while politics continue to drag it down. Should any early elections sweep Salvini into the premiership, financial markets could be rattled by his Euro-skepticism and a mix-up with Brexit and a dovish ECB...downside risks prevail.

EUR/USD

Overview
Today last price	1.1097
Today Daily Change	0.0019
Today Daily Change %	0.17
Today daily open	1.1078

Trends
Daily SMA20	1.1146
Daily SMA50	1.1223
Daily SMA100	1.1219
Daily SMA200	1.129

Levels
Previous Daily High	1.1114
Previous Daily Low	1.1076
Previous Weekly High	1.1232
Previous Weekly Low	1.1066
Previous Monthly High	1.1373
Previous Monthly Low	1.106
Daily Fibonacci 38.2%	1.1091
Daily Fibonacci 61.8%	1.1099
Daily Pivot Point S1	1.1065
Daily Pivot Point S2	1.1052
Daily Pivot Point S3	1.1027
Daily Pivot Point R1	1.1103
Daily Pivot Point R2	1.1127
Daily Pivot Point R3	1.114

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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