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.

EUR/USD sticks to positive bias above 1.1800 as trade jitters undermine USD

The EUR/USD pair builds on the previous day's modest gains and attracts some buyers for the second straight day on Thursday amid a softer US Dollar. Spot prices, however, lack bullish conviction and trade around the 1.1815-1.1820 area during the Asian session, up 0.10% for the day.

GBP/USD bounces as soft CPI boosts BoE cut bets

GBP/USD rose 0.42% on Wednesday, recovering toward 1.3600 in a session shaped by softer-than-expected UK inflation data and broad US Dollar weakness. The pair had been consolidating in a tight range between about 1.3450 and 1.3520 for the past few days following the sharp pullback from the late-January high near 1.3870, and Wednesday's move pushed price action back onto the high side of key moving averages.

Gold retains positive bias amid sustained safe-haven demand, softer USD

Gold attracts some buyers for the second straight day as trade jitters and geopolitical tensions ahead of the US-Iran nuclear talks underpin demand for safe-haven assets. Apart from this, a softer US Dollar further supports the bullion, though the underlying bullish sentiment could cap gains. Bulls might also opt to wait for acceptance above the $5,200 mark before positioning for any meaningful appreciating move.

AUD/USD rises toward three-year highs on RBA rate hike bets

AUD/USD remains stronger for the third successive session, trading around 0.7120 during the Asian hours on Thursday. The pair advances toward its three-year high of 0.7147, last touched on February 12, as the Australian Dollar strengthens following hotter-than-expected inflation data from Australia, reinforcing expectations of further interest rate hikes by the Reserve Bank of Australia this year.

Nvidia delivers another monster earnings report, and forecasts big things to come

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.