UK rating review and Spanish elections in focus – TDS

Sandeep Kanihama FXStreet Contributor

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.

Key Quotes

“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.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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