Analysts at TD Securities point out that the Fitch rating agency will be reviewing the UK’s AA (neg watch) rating, likely quite late in the day and will be a key event today.
“While the possibility of a no-deal scenario has reduced, the path ahead still remains unclear. Thus, we do hold a cautious stance ahead of the review.”
“Spanish elections are on Sunday. We expect PSOE to win the most seats, but with EU and local elections coming in late-May, talks are unlikely to yield a coalition agreement before June. Market reaction is likely to be relatively limited in part due to the lingering coalition uncertainty but also because both main parties are relatively traditional.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.